Foreign Affairs LIVE: Innovative Finance
The Council on Foreign Relations
58 East 68th Street
The global financial crisis left an indelible mark on the reputation of finance and the financial services. Yet, an emerging strand of finance, innovative finance, serves as one of the most powerful tools we have for the common good. Visionary leaders in this field seek to build a new funding paradigm at a time when aspirations to meet global challenges like climate change, energy poverty and social inequity far exceed the resources of traditional funders.
Foreign Affairs, with support from the Rockefeller Foundation, is featuring some of the most cutting-edge thinkers in the field of innovative finance today in an evening program hosted at the Council on Foreign Relations in New York on June 8. The program will highlight emerging instruments and case studies such as microinsurance, pay-for-success securities, catastrophe bonds and social impact bonds. A panel discussion and interactive session with the audience will focus on the concepts and practical implications behind these innovations designed to yield both significant investor returns and social value. This event will convene investors, finance executives, philanthropists, economists and development professionals to exchange ideas and gain insight into the work being done in innovative finance practices today.
Interview: Christopher Egerton
Interview: Kenneth G. Lay
Interview: Saadia Madsbjerg
Interview: Dr. Joanna Syroka
5:00- 6:15pm | Check-In and Welcome Reception
6:15-6:30pm | Keynote Address
Peter Blair Henry, Dean, NYU Stern School of Business
6:30-7:30 | Innovative Finance: Margins to the Mainstream
Christopher Egerton-Warburton, Partner, Lion's Head Global Partners
Kenneth G. Lay, Senior Managing Director, The Rock Creek Group
Saadia Madsbjerg, Managing Director, The Rockefeller Foundation
Kyung-Ah Park, Head of Environmental Markets Group, Goldman Sachs
Moderator: Alan Murray, Editor, Fortune
7:30-8:30 pm | Networking Reception
Peter Blair Henry is the Dean of New York University’s Stern School of Business and a former Professor of International Economics at Stanford University. He is also the author of TURNAROUND: Third World Lessons for First World Growth (Basic Books, 2013). In 2008, Peter led Barack Obama’s Presidential Transition Team in its review of international lending agencies such as the IMF and World Bank. A member of the Federal Reserve Bank of New York's Economic Advisory Panel, a member of the board of the National Bureau of Economic Research (NBER), the Council on Foreign Relations, and Citi, in 2015, Henry was awarded the Foreign Policy Association Medal, the highest honor bestowed by the organization. Peter received his PhD in economics from MIT and Bachelor’s degrees from Oxford University, where he was a Rhodes Scholar, and the University of North Carolina, where he was a Morehead Scholar and a finalist in the 1991 campus-wide slam dunk competition. Born in Jamaica, Peter became a US citizen in 1986. He lives in New York City with his wife of 20 years and their four sons.
Christopher (Edge) Egerton-Warburton is a founding partner of Lion’s Head Global Partners, a London and Nairobi based investment banking firm that specializes in finance for emerging markets, with a focus on sustainable development. In this capacity Mr Egerton-Warburton serves as the fund manager of the Global Health Investment Fund (“GHIF”), a $108mm investment fund structured by JPMorgan Chase & Co. and the Bill & Melinda Gates Foundation, which received anchor investments from Grand Challenges Canada (funded by the Government of Canada), the German Ministry for Economic Cooperation and Development (acting through KfW) and the Children’s Investment Fund Foundation. The GHIF’s mission is to finance late-stage drugs, vaccines and diagnostics for infectious diseases and maternal health challenges that disproportionately burden populations in the poorest countries of the World.
Prior to establishing Lion’s Head, he spent 14 years at Goldman Sachs within the Debt Capital Markets group, where in his last role he was head of the sovereign, supranational and agency team. Mr Egerton-Warburton has been a participant in the field of innovative financing for health for the past 10 years. He is a board member of the International Finance Facility for Immunisation, a multilateral development institution - The International Finance Facility for Immunisation – on behalf of the governments of France, Italy, Norway, Spain, South Africa, Sweden and the UK, which has raised over $3bn to fund the immunization programmes of GAVI. He had served as the lead banker on the establishment of IFFIm whilst at Goldman Sachs. He holds an MA in biochemistry from Oxford University.
Kenneth Lay is Senior Managing Director of The Rock Creek Group, an asset management firm based in Washington D.C. that manages globally diversified portfolios of public and private assets for about 50 major institutional investors. In addition to his strategic and managerial responsibilities in the firm, he works with international institutions and NGOs in efforts to develop new approaches to increasing the scale and reducing the cost of financing for global public goods.
Before joining Rock Creek at the end of 2010, Mr. Lay spent 28 years at the World Bank as Treasurer, as a director heading its programs in countries in Latin American and Southeast Europe and as head of its financial sector practice. Earlier in his career he served as an enforcement lawyer with the U.S. SEC, representing the agency in investigations and in administrative proceedings and in the federal courts.
He holds a BA from Dartmouth College, a JD from the George Washington University, the CFA designation and active membership in the State Bar of California.
As Managing Director, Saadia Madsbjerg leads the Rockefeller Foundation's work on Innovation. Her responsibilities include shaping and scaling innovative finance solutions that change the status quo and raise private sector investment capital for the social sector in promotion of the Foundation's dual goals of building resilience and promoting inclusive economies. To that end, she leads the Foundation’s “Zero Gap” portfolio, which works with grantees to develop new financing mechanisms to address some of the world’s most complex challenges.
Before joining the Rockefeller Foundation, Ms. Madsbjerg was the Senior Vice President for Strategic Planning at the New York City Economic Development Corporation.
Alan Murray, named editor of Fortune in August 2014, oversees the magazine and Fortune.com, with a combined audience of more than 13 million readers, as well as Fortune digital media and Fortune’s conferences. Mr. Murray previously served as president of the Pew Research Center, hosted an eponymous show on CNBC, and served more than two decades at the Wall Street Journal. At Pew, from 2013 to 2014, he oversaw a rapid expansion of the center’s digital footprint and led the entity into an exploration of new data methodologies in its research. At the Wall Street Journal, he served as deputy managing editor and executive editor, online, from 2007 to 2012, with editorial responsibility for the company’s websites, mobile products, television, video, books, and conferences. During his time as Washington bureau chief, from 1993 to 2002, the bureau won three Pulitzer prizes. Mr. Murray holds degrees from the University of North Carolina and the London School of Economics, and completed the Stanford Executive Program. He is on Twitter @alansmurray.
Kyung-Ah Park is head of the Environmental Markets Group, which oversees and supports the global environmental initiatives of Goldman Sachs. In this capacity, she works closely with the businesses on environmental risk management and plays a strategic role in furthering environmental market opportunities. Kyung-Ah also manages the Center for Environmental Markets, which partners with corporates, nongovernmental organizations and academic institutions to facilitate research and develop pilot projects that inform public policy and further market-based solutions to environmental challenges. She serves on the firmwide Physical Commodity Review Committee.
Previously, Kyung-Ah was a vice president in the Industrials Group in the Investment Banking Division and an executive director of Goldman Sachs (Asia) LLC, where she worked in an advisory capacity with clients across the region. She joined Goldman Sachs in 1998 in the Mergers & Acquisitions Department in New York and was named managing director in 2010.
The Rockefeller Foundation’s mission—unchanged since 1913—is to promote the well-being of humanity throughout the world. Today, we pursue this mission through dual goals: advancing inclusive economies that expand opportunities for more broadly shared prosperity, and building resilience by helping people, communities and institutions prepare for, withstand, and emerge stronger from acute shocks and chronic stresses. To achieve these goals, we work at the intersection of four focus areas—advance health, revalue ecosystems, secure livelihoods, and transform cities—to address the root causes of emerging challenges and create systemic change. Together with partners and grantees, The Rockefeller Foundation strives to catalyze and scale transformative innovations, create unlikely partnerships that span sectors, and take risks others cannot.