THE ENHANCED ANALYTICS INITIATIVE: INVESTING AS IF THE LONG-TERM REALLY DID MATTER
Research units of investment banks could be forgiven for thinking the world is an unfriendly place! First there was Elliot Spitzer, the reputational crisis and legal fines. Now there is an inexorable drift to unbundling. Even the SEC Chairman, William Donaldson, has weighed in about the short-termism and excessively narrow focus of analysts. So is the Enhanced Analytics Initiative, a project by major buy side clients to incentivise brokers to produce broader research of less tangible performance indicators, a welcome relief? Or is it yet more trouble, albeit well disguised? What do analysts need to do to compete, are they able to do so and who will be the winners? And if analysts really start to understand what drives corporate profitability, what impact will this have on corporations? Dr Raj Thamotheram is Chair of the Steering Committee of EAI and senior adviser to USS, the second largest corporate pension plan in the UK. He speaks and writes widely on issues related to responsible investing and corporate governance and was nominated by Global Proxy Watch, the newsletter of international corporate governance and shareowner value, as one of ten individuals who most influenced the shape of international corporate governance in 2004.
Extinction or Evolution: The Future for Offshore Centres
From the unique position as Europe's oldest continuous democracy, Anne Craine, Treasury Minister of the Isle of Man, will explore what the future holds for offshore centres; how they can survive, even prosper; how they need to adapt and why they serve a valid, even useful role in international finance.