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Future of Finance 

16 May 2014

Hilton Amsterdam
Apollolaan 138

Registration   14:30
Symposium  15:00
 Networking drinks  17:30
  Dinner  18:30


 Event Photos



In the aftermath of the worst financial crisis in living memory, the financial industry faces a loss of trust and mounting regulatory pressures, contributing to lower margins and stalled growth.  Quoting Albert Einstein, "It is clear that we cannot solve these problems with the same thinking that we used when we created them". Join CFA Society Netherlands and Amsterdam Institute of Finance in discussing how to shape a trust-worthy, forward-thinking financial industry for the future.

The End Goal:  to create a market where clients’interests come first, markets function at their best, and economies grow.  How can the financial services industry move beyond a lack of trust?  What do ethics , integrity and governance mean to this purpose, and mean in reality?  Can we align our  interests  to move to the next level of success and positive impact?  The Future of Finance is a unique opportunity to learn and engage with international experts and other professionals  on this  crucial matter.  

Join the movement on May 16.

Read a report of the event It Starts with You

Download the presentations of:

George Moller: Ethical Dilemmas 

Raghu Rau: Behavioural Ethics

Roger Urwin: If not us, who?

Theo Vermaelen: Ethics a Contractual Approach

Jaap Winter: Governance at a Crossroads


Our Speakers

 George Moller

Ethical Dilemmas

"Immoral behavior is one of the most important causes for  financial calamities and yet we have banned ethics from our teaching and vocational training. Collective immoral behavior is the root cause of systemic risk. So ethics is not soft it is core to risk management and it belongs in the toolbox of every modern manager. And above all discussing ethical dilemmas is fun."

George Möller is author of the Book ‘Banking on Ethics’(Waardenloos) and writes a quarterly column on Financial ethical questions in the Financial News a London based Wallstreet journal publication. 

Drs. George Möller is Chairman of the Supervisory Board of the Netherlands Authority for the Financial Markets. He was CEO of Robeco Groep N.V. in Rotterdam from July 2004 to September 2009. He previously worked inter alia at Euronext and MeesPierson in London. Drs. Möller had a seat on the Tabaksblat Commission, which drew up a Corporate Governance Code and he was a non executive Board member of Liffe (London). He is also Chairman of the Advisory Council of the Amsterdam Institute of Finance.

Beside his involvement with the AFM he serves on the Board of national and international Institution as a non-executive Director.  He is the Chairman of the Supervisory Board of Leiden Medical Centre (LUMC). He is on the Board of NasdaqDubai (UAE) and on the Board of one of the world largest trendfollowing’ hedge funds Winton Futures Fund (WFF) based in BVI.


 Raghavendra Rau

Raghu Rau A Question of Behavior

Professor Rau is the Sir Evelyn de Rothschild Professor of Finance at the Cambridge Judge Business School. He is also the current president of the European Finance Association (2014), Head of the School's Finance & Accounting subject group, and a member of the Cambridge Corporate Governance Network (CCGN). Professor Rau has taught at a number of universities around the world, including the Institut d'Etudes Politiques de Paris (Sciences PO), Purdue University, the University of California at Los Angeles and most recently, the University of California at Berkeley. He was also Principal at Barclays Global Investors, then the largest asset manager in the world, in San Francisco from 2008-2009.


Professor Rau is a co-editor of Financial Management, and an Associate Editor of the Journal of Banking and Finance, the International Review of Finance and the Quarterly Journal of Finance. His research has frequently been covered by the popular press including the New York Times, the Financial Times, the Wall Street Journal, and the Economist, among others.

 Roger Urwin

Roger UrwinCulture and Leadership: keys to restoring trust.

Roger Urwin assumed the new post of Global Head of Investment Content at Towers Watson in July 2008 after acting as the Global Head of the investment practice from 1995 to 2008. Roger joined Watson Wyatt in 1989 to start the firm's investment consulting practice and under his leadership the practice grew to a global team of over 500. His prior career involved heading the Mercer investment practice and leading the business development and quantitative investment functions at Gartmore Investment Management. Roger’s current role includes work for some of the firm's major investment clients both in the UK and internationally. He leads the firm’s work on transformational change and has conducted major strategic reviews  at a number of global leading funds. He is also involved with the Towers Watson thought leadership group (Thinking Ahead Group). His investment innovations include three global firsts: the origination of the first target date DC funds (in 1988), the risk budget framework (in 1999) and the governance budget framework for assessing asset owner organisational effectiveness (in 2007).

Roger Urwin is also the author of a number of papers on asset allocation policy, manager selection and governance and sustainability. He is on the Board of the CFA Institute and an Advisory Director to MSCI Inc. 

Roger has a degree in Mathematics from Oxford University and a Masters in Applied Statistics also from Oxford. He qualified as a Fellow of the Institute of Actuaries in 1983.

 Theo Vermaelen

Business Ethics: a contractual approach

Theo Vermaelen is Program Advisor to Amsterdam Institute of Finance. He is The Henry Grunfeld Chair in Investment Banking at INSEAD where he teaches in MBA, PhD and Executive Programs. Previously Theo held the Schroders Chair in Asset Management and International Finance.
He is a graduate from the Department of Applied Economics at the Catholic University of Leuven (Commercial Engineer) and obtained an MBA and PhD in Finance from the Graduate School of Business, University of Chicago.

Theo Vermaelen has taught at the University of British Columbia, the Catholic University of Leuven, London Business School, UCLA, the University of Chicago, and Maastricht University. He has published several articles on a variety of corporate finance topics such as share buybacks, dividend policy, capital structure, mergers and acquisitions, IPO’s and Coco bonds in leading academic journals. He is the co-editor of the Journal of Empirical Finance and co-manager of PV Buyback USA, a fund that invests in companies that buy back stock because they are undervalued. While he generally teaches corporate finance at INSEAD, since a few years he also teaches an ethics module called: “Ethics and Finance: a contractual approach”.

 Jaap Winter

Jaap Winter Governance: at a crossroads

Professor Jaap Winter is the President of the VU University of Amsterdam and Professor of International Corporate Law at the University of Amsterdam.

Jaap studied Dutch law at the University of Groningen, where he also obtained his PhD. He is a specialist and designer in the field of Corporate Governance and Corporate Governance systems in the Netherlands and in Europe and was a founding member of the Duisenberg School of Finance, where he was the first dean. He was a member of the Corporate Governance Committee chaired by Morris Tabaksblat and chair of the ‘High Level Group of Company Law Experts’, which was established in 2011 by the European Commission to advise on a modern legal framework for Corporate Law and Corporate Governance in Europe.

 Moderator Tom Cummings

Tom CummingsTom Cummings is known for his early contributions to the field of strategy and organization dynamics in the context of next generation business networks and alliances.  He is the author, with James Keen, of Leadership Landscapes (Palgrave McMillan 2008), a book on how to resolve complex challenges through systems thinking, executive leadership practices and the development of human capital. Based on this work he has recently written an article for the SAGE compendium on Civic Leadership on how ‘Practical Wisdom’ through reflection which serves as a way for leaders to draw from their experience in complex situations.
Tom is known for his ability to bring new insights and fresh perspectives to his client engagements. He has been a founder/director/facilitator in the start-up of several successful companies and networks, including Cambridge Energy Research Associates; Technology Resources Group; Paras Ecos; Executive Learning Partnership, Common Purpose Nederland, Leading Ventures, European Climate Foundation and the Global Alliance for Banking on Values, to name a few. He has served in senior executive roles in Shell International; ABN AMRO Bank and Unilever NV, where he has worked on long term planning to develop sustainable business practices through the development of human capital.

In academe, he is the co-director of the Cambridge Judge Business School program on ‘Futures Thinking’ and teaches on the Corporate Supervisory Board program at Nyenrode Business University and is visiting faculty at GIBS South Africa.  At IMD in Switzerland he previously served as program director for the workshop on Business Alliances. Mr. Cummings has written a number of award winning case studies and peer-reviewed publications.  He is currently on the board of Progressio Foundation, and adviser to the Tallberg Foundation Pathfinders project, a long-term research and action-learning network to engage global leaders in human development and sustainability projects in Africa.
Mr. Cummings lives in the Netherlands, is a father of four, and partner of an award winning sculptor, Emilie Cummings-Enneking



Lead Sponsors





T Rowe Price 

 Event Sponsors

Kempen CM 

Are you ready to lend your name and support to benefit the greater good?  We are offering a limited number of sponsorship opportunities.

Cees Harm van den Berg
CFA Society Netherlands
020 545-9056​
Resources and Tools
Check out the multitude or reports and resources available which can help you get involved and initiate change.
Resources for the Dutch Market:
CFA Institute Resources and Tools:
The Integrity List


16 May 2014

Hilton Amsterdam
Apollolaan 138

Registration   14:30
 Symposium  15:00
 Networking drinks  17:30
  Dinner  18:30


To pre-register send an email to