Agenda of the CFA Society Poland
Annual Conference

We kindly invite you to have a look at the current agenda of the conference, which will be conducted in Polish or English. Each point in the agenda of the event will be hosted in person. Only the General Meeting of Members will be held in by a hybrid arrangement.

SEPTEMBER 22, 2022

DAY 1. THURSDAY: MACROECONOMICS, PRIVATE EQUITY, CLIMATE AND ENERGY

In-person participation

Until 01:30 PM CEST

Check-in for participants of the 2022 CFA Society Poland Annual Conference

01:30 - 02:30 PM CEST

Lunch

02:30 - 02:50 PM CEST

Welcome remarks to participants of the 2022 CFA Society Poland Annual Conference

Prof. Krzysztof Jajuga, President, the Board of Directors, CFA Society Poland, Ludmiła Falak-Cyniak, CFA, Member, CFA Society Poland

02:50 - 03:30 PM CEST

A keynote speech

Geo-economics, a concept that entered the lexicon for good in the 1990s, is heating up our minds again. Although the term is polysemous and has many definitions, one thing is certain – military power always implies economic power. These are two sides of the same coin. The geo-economic world order is established by several key instruments: trade policy, investment policy, economic and financial sanctions, financial and monetary policy, energy and commodities, aid and cyber. As geopolitical and geoeconomical factors increasingly influence markets, investors need to gauge the impact on investments. Most experts consider political risks unquantifiable, but Joachim Klement, CFA will show how such risks can be quantified and used for risk management.

Joachim Klement, CFA, Head of Strategy, Accounting, and Sustainability, Liberum

03:30 - 04:30 PM CEST

Private equity in practice

Sylwester Urbanek, CFA, Investment Director, Abris Capital Partners

04:30 - 05:00 PM CEST

Coffee break

05:00 - 06:00 PM CEST

A panel discussion on macroeconomic trends

The pandemic, the war in Europe, the globalization crisis and the decentralization of money. The growing interest in macroeconomic affairs is the result of an increasingly complex world, in which the indicators are becoming less and less complex. The reality is far from simple prescriptions like “more/less free market.” Often there is no simple choice, and every option has shortcomings and risks. For all this, economic policy is still driven by people, not algorithms. In addition to the growing influence of China, emerging markets face a number of challenges that will shape the coming decades. First, there is a shift toward protectionism in some developed economies, which itself is rooted in the belief that globalization has brought too many benefits to emerging markets at the expense of low-skilled labor in developed countries. Second, there is the unstoppable march of technological progress, which may make low-skilled jobs increasingly outdated. And third, excess monetary resources resulting from a decade of extraordinary monetary stimulus in the world’s three leading economies have resulted in record capital flows to emerging markets, and thus, perhaps, record vulnerability. In the panel, recognized international macroeconomic strategists will discuss the state of economies in times of great uncertainty.

Charles Robertson, Global Chief Economist, Head of Macro-strategy, Renaissance Capital
Beata Harasim, Senior Investment Strategist, BlackRock
David Lubin, Managing Director and Head of Emerging Markets Economics, Citi
Moderated by: Bartosz Pawłowski, CFA, Vice President, CFA Society Poland

06:00 - 07:00 PM CEST

A panel discussion: Energy. How to power Europe

We live in a world where the expert knowledge of scientists and activists is becoming known as the new faith of Western societies. Doubts about climate change and questions about the consequences of climate change, about which we are not entirely clear, are facing tremendous opposition especially on social media. Energy and climate are the number-one topics, especially in the context of record year-on-year temperatures and the crisis brought on by the war in Ukraine. Have climate issues become only a political and business imperative? Can predictive analytics forecast undesirable climate change in the context of CO2 emissions in the Anthropocene era? Is green energy really green? These questions will be explored at a panel on the energy and climate crisis.

Prof. Samuel Furfari, President, Société Européenne des Ingénieurs et des Industriels
Piotr Danielski
, Vice President, DB Energy
Lars Schernikau, PhD, Speaker & Expert
Moderated by: Piotr Sieradzan, PhD, CFA, Vice President, CFA Society Poland

07:00 - 07:30 PM CEST

The official inauguration of TO BE MORE program for professionals

At the inauguration, the Board of Directors of the CFA Society Poland will present this year’s senior mentors, who will support their mentees from October 2022 to June 2023. The inauguration will feature an invitation-only lineup of C-level professionals who represent banks, mutual fund companies, industry organizations and brokerage houses.

08:00 PM CEST

Evening banquet dinner. Networking meeting for CFA Society Poland Annual Conference participants

SEPTEMBER 23, 2022

DAY 2. FRIDAY: MONETARY/FISCAL POLICY, RISK MANAGEMENT, PASSIVE INVESTING, GEOPOLITICS, GEOECONOMY, ESG

In-person participation

10:00 - 10:05 AM CEST

Welcome remarks to the participants of the 2022 CFA Society Poland Annual Conference

Prof. Krzysztof Jajuga, President, the Board of Directors, CFA Society Poland

10:05 - 10:35 AM CEST

A keynote speech

Rafał Mikusiński, Vice Chairman, the Polish Financial Supervision Authority (UKNF)

10:35 - 12:00 AM/PM CEST

A panel discussion: Fiscal and monetary policy in times of slowdown, inflation and external shocks

We regard both monetary policy and fiscal policy as the most important pillars of macroeconomic government policymaking. Because of monetary policy, risks such as inflation, deflation and exchange rate stability are present in the public space. Currently, Poland is at an interesting juncture. Is the fiscal and monetary strategy of our country enough to guarantee our growth and economic stability? Are modern mechanisms and tools suitable to counter the effects of inflation? And what are the implications of macroeconomic risk in the context of our financial, fiscal and monetary ecosystem? These questions will be addressed by well-known economists, holding key positions in the country today and in the past.

Mateusz Szczurek, Lead Economist for Central and Eastern Europe, the European Bank for Reconstruction and Development
Paweł Borys, President of the Board, the Polish Development Fund (PFR)
Prof. Małgorzata Iwanicz-Drozdowska, Economist, Lecturer, SGH Warsaw School of Economics
Ignacy Morawski, Project Founder and Head of SpotData Team
Moderated by: Patrycjusz Wyżga, Journalist, Wirtualna Polska

12:00 - 12:20 PM CEST

Coffee break

12:20 - 12:40 PM CEST

A look at the passive investment from the local perspective

Izabela Olszewska, Member of the Board, the Warsaw Stock Exchange (WSE/GPW)

12:40 - 01:20 PM CEST

A presentation on passive investing

According to ETFGI, global net inflows into ETFs reached $463.8 billion in the first half of 2022, down 29.6 percent from the same period last year. However, ETFs overall have attracted more new business so far than in the same period in 2019 and 2020. Has passive investing lost its glamour in times of uncertainty in the markets? Join us for two presentations to learn about two perspectives, local and global.

Deborah Fuhr, Managing Partner and Founder, ETFGI

01:20 - 02:20 PM CEST

A panel discussion: Risk management in the era of digitization and cloud solutions

Panel discussion’s details will be announced soon.

Sylwia Samulczyk, President, Asseco Services
Małgorzata Rusewicz
, President, IZFiA/IGTE
Michał Karwasiński, Partner, KSZ Smart Legal, Karwasiński Szpringer i Wspólnicy
Piotr Alicki, President, KIR
Moderated by: Prof. Krzysztof Jajuga, President, CFA Society Poland

02:20 - 03:30 PM CEST

Lunch

03:30 - 05:00 PM CEST

A panel discussion: Are the Cold War times coming?

Geopolitics is the hottest topic of the past few months. Europe, in particular, is currently facing enormous challenges, and the next few years could be dramatized by a number of crises: refugee, currency, energy, legislative and union ones. Geopolitics is hitting business so visibly for the first time in decades, with each country’s GDP declining by several percentage points. This is compounded by the green transition, the post-pandemic transformation of the social zone and the rearmament of Europe. At the same time, we are witnessing a great mobilization of the superpowers – especially the Russian Federation and China are looking for a new identity in the 21st century, returning to their roots – tsarist Russia and old Chinese civilization – one of the most important cultural poles and power centers on the globe.

Jacek Bartosiak, PhD, Founder of the Strategy & Future think tank
Prof. Radosław Fiedler, Head of the Doctoral School of Social Sciences, Adam Mickiewicz University in Poznan
Paul Gamble, Head of Emerging Markets, Fitch Ratings
Leszek Ślazyk, Editor-in-Chief, Chiny24.pl
Bartek Kubaty, Finance Business Partner, UBS
Moderated by: Izabela Sajdak, CFA, Fund Manager, BNP Paribas TFI

05:00 - 06:30 PM CEST

A panel discussion: ESG. Between enthusiasm, skepticism, bureaucracy, war and common sense

Is ESG going to turn out to be the proverbial “hot potato” and share the destiny of CSR policy? Are ESG indicators, which have been labeled a megatrend, only becoming green PR? Environmental, social and governance investing is currently the fastest growing segment of the asset management industry. The year 2022, which really started at the end of February with the invasion of Ukraine, puts ESG practices into big question and shows how vague and ambiguous the concept of ESG is, which leads to many malpractices. The Russian invasion in Ukraine is pushing companies, investors and governments to struggle with incidents that sometimes seem to put E, S and G against each other. For example, governments in Europe are abandoning environmental goals and turning to fossil fuels to reduce dependence on Russian gas. Are we still civilizationally not ready for sustainable investing?

Monika Czokajło, Head of the ESG Office, BGK (the Polish Development Bank)
Prof. Aswath Damodaran, Professor of Finance, Stern School of Business, New York University
Maria Bazhanova, Head of ESG Ratings for Financial Institutions, Sustainable Fitch
Prof. Samuel Furfari, Prezes Zarządu, Société Européenne des Ingénieurs et des Industriels
Mariusz Samordak, CFA, Managing Director (Green Advisory), BOŚ Bank
Moderated by: Paweł Chylewski, CFA, Investhink

06:30 PM CEST

The completion of the 11th CFA Society Poland Annual Conference

07:00 - 08:00 PM CEST

The General Assembly of Members

The meeting is exclusively for regular and associate members of CFA Society Poland. Hybrid participation by a host invitation.

08:00 PM CEST

Integration dinner in a highlander's cottage in the Warszawianka Hotel complex

SEPTEMBER 24, 2022

DAY 3. SATURDAY: ENDING

08:00 - 11:00 AM CEST

Breakfast

By 11:00 AM CEST

Check-out

CFA Society Poland was founded in 2004 and is one of the largest member societies of the international CFA Institute in the CEE region. CFA Society Poland propagates and implements the highest ethical and educational standards in the field of investment industry performance in Poland. CFA Society Poland is an association of professionals involved in the broadly defined making of investments and financial management.