SGG Crossroads: Sir Bob Geldof, Gina Miller and other prestigious speakers shared their perspectives on how the finance industry can contribute to a better society
press release - 29th of June 2018
The inaugural SGG Crossroads event, organized by SGG Group, a leading global investor services firm, was held in Luxembourg on 26 June 2018. The objective of the event, which was co-sponsored by Deloitte, Carne, ING and Baker McKenzie, was to create a thought provoking platform where members of the industry could reflect on how the financial sector could create a better environment for future generations.
In his opening remarks, Serge Krancenblum, CEO of SGG Group, commented: “I wanted to show the positive contribution of the finance industry on society in general and also inspire finance professionals with the outstanding initiatives of our guest speakers. There is a new generation of investors and finance professionals who do not only aim at maximizing profits but also want to have a positive impact on society.”
Mr Krancenblum highlighted that, at SGG, the objective is to create a better society and a sustainable business, two concepts which go hand in hand. Leading by example, he announced that he is pledging 10% of his future exit revenue to charitable causes.
Sir Bob Geldof explained how he was able to leverage his ‘rock star’ status for philanthropic ends and presented the genesis behind the Live-Aid and Band-Aid campaigns. “1 person spending 1 dollar is charity. A million-people spending 1 dollar becomes political, and the needle starts to tremble. With a further push, it brings about change,” he stated. He encouraged the public to consider investments in Africa, showcasing the results of his private equity fund – 8 miles – in bringing about positive impacts in the communities in which the fund invests.
Gina Miller, Founder and head of SCM Direct, a disruptive asset manager, called for much deeper transparency in the financial industry and an inclusive capitalism. “Divided capitalism has not created societies where people thrive. Our duty is to deliver a virtuous circle of value creation, customer confidence and self-fulfilment,” she stated.
Other speakers at the event included Nev Hyman, who presented Nev House, a sustainable social enterprise using recycled plastic to create low cost homes, Roelfien Kuijpers, Member of the Executive Committee at DWS NY, who made the case for increasing the interest of investors in responsible investments, and Myriam Vander Elst, Vice President and Head of Europe at EPIC, who underlined the changing nature of philanthropy and the need for transparency in this sector. In addition, Patrick Scheurle, CEO of BlueOrchard Finance, presented impact finance and how populations in the developing world can benefit greatly from access to financial services; Roger Hartmann, Board Member at Sqope SA, emphasised the importance of compliance and risk for the financial sector, while Itzik Amiel, CEO of The Switch, reminded the audience of the importance of human interaction in creating a better society.
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