More than 380 representatives from central banks, finance companies, the academe, and international organizations from more than 25 countries from the Asia-Pacific region and beyond gathered in Taipei for the 40th ABA General Meeting and Conference held on November 18 and 19, 2024 at the Grand Hyatt Taipei.
Focusing on the theme “Asian Banks: Transitioning Toward a Sustainable Future” , the two-day Conference featured Minister of Economic Affairs of the Republic of China (Taiwan) H.E. Kuo Jyh-Huei and the Chairman of the Financial Supervisory Commission H.E. Dr. Jin-Lung Peng as Speakers during the Opening Ceremony, sharing their valuable perspectives on issues surrounding the Conference theme.
In his Welcome Remarks at the Opening Ceremony, ABA Chairman and Vice Chairman of CTBC Financial Holdings Mr. Daniel Wu pointed out that the banking industry is undergoing a shift from traditional to customer-centric and digitally-driven operations, pushed by factors such as changing customer demands, changing operating models, and a digitally-driven market. With the resulting changes in their requirements and expectations, customers are expected to gravitate towards banks that provide the most integrated and intuitive experiences, underscoring the need for banks to ensure a seamless banking experience for their customer base.
He further noted that another issue that poses a daunting challenge for the banking industry is the impact of climate change . He streesed the need to mobilize both our existing and additional resources – technology development, financial resources, and capacity building – to meet the growing need of the region for sustainable finance.
However, Chairman Wu expressed his belief that ABA, as an international organizational platform, can effectively assist member banks in finding solutions to current challenges, allowing the banking industry to successfully digitally transform and move towards sustainable operations.
Welcome Remarks were also delivered by Dr. Ray B. Dawn, Chairman of the Bankers Association of The Republic of China (BAROC) and of Mega International Commercial Bank.
A key feature during Day One of the Conference was the fireside chat between Blackstone Vice Chairman Thomas Nides and ABA Chairman Daniel Wu who shared their personal experiences and observations on the international financial situation. Mr. Nides served as the U.S. Ambassador to Israel from 2021 to 2023. Prior to that, he worked at Morgan Stanley for more than ten years, serving as Chief Operating Officer and Vice Chairman.
During the chat, Mr. Nides pointed out the opportunities and challenges of Asia’s unique economic environment in the post-epidemic era, and provided suggestions for the Asian banking industry to maintain competitiveness and sustainable development in response to economic and geopolitical changes.
The Opening Ceremony was followed by three Plenary Sessions featuring distinguished speakers who dwelt on topics focusing on technology, sustainability and customer experience.
The agenda for the second day on November 19, 2024 started with the Host Bank Session featuring renown chief economist Richard Koo from Nomura Research Institute of Japan, who explained the financial situation of the United States, Japan and China.
Richard Koo’s presentation was followed by the CEO Forum session, B2B networking meetings, and subsequently by the 63rd ABA Board of Directors’ Meeting presided by Mr. Daniel Wu, ABA Chairman and Vice Chairman, CTBC Financial Holding.
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The 40th ABA General Meeting and Conference marked the sixth time that the annual gathering of ABA members was held in Taipei since ABA’s establishment in 1981. Government officials from other Asian countries, high-ranking officers from important international financial institutions in Taiwan as well as bank representatives from Austria, Bhutan, Australia, Austria, Belgium, Bhutan, Canada, China, Germany, Hong Kong, India, Iran, Japan, Malaysia, Maldives, Mongolia, Philippines, Singapore, South Korea, Sri Lanka, United Kingdom, United States and Vietnam joined the event.
