Explaining the Banking Crisis: What Happened, Its Wide Implications and Lessons Learned
Numerix Roundtable Discussion
15 years after the 2008 financial crisis, we are back in the banking soup.
Silicon Valley Bank—the 16th-largest U.S. bank by assets—built a portfolio that ultimately cracked under stress, resulting in its failure and seizure. Two days later, Signature Bank became the third largest bank to collapse in U.S. history. The financial sector then experienced the bailout of the U.S. regional lender First Republic Bank and the takeover of the troubled Swiss bank Credit Suisse by its rival, UBS.
In this video, a number of key questions and issues are discussed by a Numerix panel of financial industry experts representing the banking, insurance, asset management and hedge fund industries. Subjects covered include:
- How did this crisis unfold?
- Who is to blame? The banks, the Fed, regulators, or all three?
- The impact of inflation to the banking industry
- The threat of a recession
- How the financial markets reacted
- The effect of poor risk management and substandard asset liability management
- Importance of having the right risk technology systems
- Lessons learned
Featured Speakers
Neil Chinai
Neil Chinai is recognized in the financial services and fintech communities as a thought leader and disruptor. Neil is currently advising several early stage fintech firms and financial service software providers on product strategy, business plans, IT infrastructure and fundraising. Additionally, through his extensive network, he facilitates product sales and client engagements.
Neil has over 25 years of IT experience working with Tier 1 banks driving business growth, IT and operational transformation, delivery on regulatory mandates and evolving organizational models. He brings a depth of product knowledge across capital markets, investment banking, security services, lending and structured products. Neil led the adaption of technology enablers for front office applications, analytics, data science, digitalization, blockchain, and cloud integrations.
Neil is formerly the Managing Director and CIO of Global Fixed Income and Americas Capital Markets and Banking at HSBC. Neil’s previous experience spans Barclays Capital, Merrill Lynch and UBS. Neil’s vast experience covers overseeing technology function across growth initiatives, costs optimization, risk control, offshoring into India and China, and delivering on IT strategy.
In his early days, Neil worked in Front Office IT functions where he learned the front office in capital markets firms and dealt with complex pricing, risk management, electronic trading, devops, operations, and derivatives workflow functions. Thought out his career, Neil has had a passion for innovation and industry standardization through his work on FPML, FIX and ISDA’s Common Domain Model, and promoting adoption through strategic partnerships with market infrastructure providers and fintech.
Barry Seeman
Barry Seeman is a strategic, well-connected executive and team leader with a 30+ year track record of business management, business strategy and development, sales, risk management, derivatives trading, and improvement of profitability for complex financial services operations. He is the founder of Bear Run Partners, a specialized consultancy firm, applying capital markets, asset management and client management experience to impact companies in their strategic growth plans, product development, project management and client expansion.
Kevin McPartland
Kevin McPartland has over 20 years of capital markets industry experience with deep expertise in market structure, regulation and technology impacting the fixed-income, FX and equity markets. Prior to joining Coalition Greenwich, Kevin was with BlackRock, where he was a Director in the Electronic Trading and Market Structure group. Prior to Blackrock, he was a Principal at TABB Group, where he founded and led the firm's fixed-income research practice. Kevin also spent time at J.P.Morgan, UBS and Deutsche Bank in varying capacities. Kevin has presented at a wide range of industry conferences, is quoted regularly in the financial media and has provided live and taped commentary on various TV and radio outlets. In addition, he provided testimony discussing the Dodd-Frank Act in 2011 to the U.S. Senate’s Banking Committee and three times to the U.S. Commodities and Futures Trading Commission (CFTC), mostly recently in 2015.
As Chief Marketing Officer and Executive Vice President of Global Marketing & Corporate Communications, James leads the company’s global marketing and corporate communications efforts, spanning a diverse set of solutions and audiences. He oversees integrated marketing communications to clients in the largest global financial markets and to the Numerix partner network through the company's branding, electronic marketing, research, events, public relations, advertising and relationship marketing.
Since joining Numerix in 2008, James has launched the organization’s award-winning thought leadership program, bringing to light challenges and insights from Numerix market experts. He also hosts the Numerix Video Blog, tackling the challenges pressing the derivatives markets—from regulatory issues to trading strategies.
Prior to joining Numerix, James served as Managing Director of Global Marketing and Communications for Fitch Ratings. During his tenure at Fitch, he built the firm’s public relations program, oversaw investor relations and led marketing and communications plans for several acquisitions. Prior to Fitch, James was a member of the communications team at Moody's Investors Service.
