The third annual FinanceAsia Corporate Treasury and CFO Summit, Philippines, attracted 14 speakers and 285 delegates to the Makati Shangri-La. The event focused exclusively on corporate treasury, capital management and trade finance in the Philippines.
The one-day event featured a keynote address by Cesar Purisima, secretary of finance, and Amando Tetango, governor of Bangko Sentral ng Pilipinas. The summit was opened by Aurelio Luis Montinola, president of the Bank of the Philippine Islands.
Amando Tetangco and Cesar Purisima’s keynote addresses were widely covered by the attending media. In light of recent market instability, Amando Tetangco expressed how the BSP is revising reporting requirements for banks and financial services institutions, a move towards tightening speculative activity and market conduct. Aurelio Montinola corroborated the BSP’s statement, saying banks will assist in the financing of legitimate flows to encourage long-term market stability.
Given the latest volatility witnessed in the global stock markets, it was no surprise that Anthony Paner’s presentation on hedging derivatives as a tool to combat currency risk was received with great interest by the audience and scored highest on the delegates’ evaluation reports. Following closely on the scoreboard was the panel on how trade finance can be used for economic growth, which brought together Mylene Caparas and Ravi Saxena from Citi, and was moderated by Jonathan Barlow of FinanceAsia.