Highlights of Past Events - 2014

[02/12/14] The EACC’s Annual Economic Update with St. Louis Fed President James Bullard & Nicolas Véron of the Peterson Institute for International Economics & Bruegel

On February 12th, 2014, the EACC held its annual Economic Update at the New York Stock Exchange with speakers James Bullard, President of the St. Louis Federal Reserve Bank, and Nicolas Véron, a visiting fellow at the Peterson Institute for International Economics as well as co-founder and senior fellow of Bruegel. The event proved fascinating and successful, with over 200 people in attendance including prominent business leaders, foreign trade representatives, economists, journalists, and numerous representatives from various consulates.

In a debate, moderated by Sassan Ghahramani, founder and CEO of SGH Macro Advisors, the discussants focused on the state of the economies in the Eurozone and the US, monetary and fiscal policy, opportunities, interest rates, and the general macroeconomic outlook for each economy. Furthermore, each shared personal insights on growth and combatting unemployment, including guidance and policy recommendations.

James Bullard is president and chief executive officer of the Federal Reserve Bank of St. Louis, positions he has held since 2008. In these roles, he participates in the Federal Open Market Committee (FOMC) and directs the activities of the Federal Reserve’s Eighth District head office in St. Louis and branches in Little Rock, Ark., Louisville, KY., and Memphis, Tenn. An economist and monetary policy scholar, Dr. Bullard has been with the Bank since 1990.

Nicolas Véron is a scholar both at Bruegel, which he co-founded in 2002-04, and at the Peterson Institute for International Economics, which he joined in 2009. Most of his research is about financial systems, financial reforms, and political economy in European and global policymaking. He has been a consultant to the International Monetary Fund and World Bank, a financial policy expert for the European Parliament, and has given testimony on several occasions at the US Senate. In September 2012, Bloomberg Markets included Véron in its second annual 50 Most Influential list, with reference to his early advocacy of European banking union.

Photo credit: Dario Cantatore/NYSE Euronext

[02/20/14] Newsmaker Breakfast with the Minister of Economy of the Republic of Lithuania Evaldas Gustas

On February 13, 2014, the EACC held a private breakfast with Evaldas Gustas, the current Minister of Economy of the Republic of Lithuania, in a special event co-organized with the Consulate General of Lithuania in New York. The meeting focused on the many attractive investment opportunities in the Republic of Lithuania.

In a comprehensive presentation, Minister Gustas highlighted the strength of the Lithuanian economy citing key facts and figures, while delving deeper into what makes Lithuania unique for investors. The Minister’s presentation was followed by a lively question and answer session in which business leaders had the opportunity to voice their individual needs and interests to which the Minister and his team responded. Additionally, the Minister touched on the country’s goals and accomplishments during Lithuania’s presidency of the Council of the European Union.

Evaldas Gustas was appointed Minister of Economy in 2013, just before Lithuania took helm of the EU Presidency in the second half of the year. Prior to his role as Minister, Mr. Gustas served in a number of executive positions in the Ministry of Interior of Lithuania. Additionally, Mr. Gustas worked for the Lithuanian Central Bank and before his roles in the public sector, held various positions in the private sector.

[05/19/14] Pan European Days at the New York Stock Exchange

In cooperation with EACCNY, Euronext hosted its 2nd annual Pan European Days at the New York Stock Exchange on May 19, 2014.

This high-profile forum brought together over 200 businesses executives and investors – among the 50 companies with up to €400 billion in market capitalization that are listed on Euronext’s continental European markets (Amsterdam, Brussels, Lisbon and Paris), and around 250 investors from the United States.

Sponsored by Euronext in partnership with the European American Chamber of Commerce New York as well as key European investment banks ING, KBC, Millennium BCP, and Société Générale, Pan European Days provided leading European companies a platform to directly address the financial community in the United States.  It also offered investors an opportunity to directly interact with CEOs and CFOs of Europe’s leading Euronext-listed companies, and learn more about opportunities on NYSE Euronext markets with around 500 one-on-one and small group meetings.

Pan European Days started with a half-day conference on both the current state of European economy as well as economic developments in the European market, bringing together European government officials, chief economists from leading financial institutions, and investors.

Official Welcome by Diederick Zandstra, Head European Corporate Client Group, EURONEXT

Panel 1Is Europe Fixed?.

  • Jose Brandao Brito, Chief Economist, MILLENIUM BCP
  • Mark Cliffe, Chief Economist, ING
  • Michala Marcussen, Global Head of Economics, SOCIÉTÉ GÉNÉRALE
  • Siegfried Top, Senior Economist (Europe), KBC
  • Moderator: Stephen Adler, President & Editor in Chief, REUTERS NEWS

KEYNOTE ADDRESS by Bertrand Badré, Managing Director & CFO, WORLD BANK GROUP


Panel 2A Top-level discussion by European finance officials & industry leaders on the current economic developments of the European Market.

  • Isabel Castelo Branco, Secretary of Treasury, Portugal
  • Manuel Ferreira de Oliveira, CEO, GALP ENERGIA
  • Moderator Zachary Karabell, Commentator, SLATE MAGAZINE, Head of global strategy at ENVESTNET & author of “The Leading Indicators: A Short History of the Numbers That Rule Our World”.

SPECIAL ADDRESS: His Excellency João Vale de Almeida, Ambassador of the European Union to the United States

On May 20th, 2014 a select group of sponsors and guests were invited to witness the ringing of the opening bell by Isabel Castelo Branco, Secretary of Treasury, Portugal, among them James Rosener, President of the European American Chamber of Commerce.

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[09/23/14] High-Level Breakfast Briefing on the European Banking Union

EACCNY in partnership with Fordham University hosted a indepth briefing on the European Banking Union and its effects on the global financial markets.

A top-level panel with experts from the European Union and the United States the panelists covered topics such as:

  • The financial architecture in the European Union and the US markets – differences and similarities
  • A status update on the European banking union, the SSM, Single Resolution Mechanism, Stress Tests & the Asset Quality Review (AQR)
  • Implementation of the banking union across Europe & how it is contributing to Europe’s financial stability
  • How will the banking union and the single rule book (for Capital requirements, Deposit Guarantee Schemes and Bank recovery and resolution) effect U.S. market participants.


  • Thomas Wieser, President European Union’s Economic & Financial Committee, The Euro Working Group
    • A Key advisor to the Ministers of Finance of the European Union countries.
  • Douglas J. Elliott, Fellow, Economic Studies, Initiative on Business & Public Policy, Brookings Institution
    • An expert on the financial sector worldwide and its regulation, on pensions both corporate and state and local, and on the eurozone and its economic and financial governance, including the Euro Crisis
  • José Viñals, Financial Counselor & Director, IMF’s Monetary and Capital Markets Department
    • He was previously Deputy Governor at the Bank of Spain and served on a range of advisory and policy committees at the central bank and within the European Union, including as Chairman of the European Central Bank’s International Relations Committee
  • Thomas Philippon, French economist & Professor of Finance, NYU Stern School of Business
    • Specializes in financial economics and is the author of Capitalism heirs. The French crisis of labor. He is an administrator of the European think tank EuropaNova.

[11/04/14] The Benefits of Investing for the Long-Term Despite Pressures by Financial Markets & Shareholders

On November 4th, 2014 EACC New York members and guests heard from Blackstone, McKinsey & Major Pension Funds about ”Leading for the Longterm” in a moderated panel discussion with CEO’s from major US and EU companies, Pension Funds and other market participants on the benefits of looking beyond the next quarter, including a comparison of US & EU approaches to the subject of long-term investing

Short-termism is undermining corporate investment and holding back economic growth. If large asset owners adopt strategies aimed at maximising long-term results, then other key players will follow suit. — Mark Wiseman, CEO, Canada Pension Plan Investment Board.

In the light of current headlines such as Harvard Business Review’s “The Best-Performing CEOs in the World” and the New York Times’ “Weak Results at IBM as Its Strategy Shifts“, as well as developments between CalPERS and hedge funds and the changing investment strategies at private equity funds, we believe that this program was highly relevant.

Panelists included:

  • Dominic Barton, Global Managing Director, MCKINSEY & COMPANY
  • Pat Russo, Former CEO, ALCATEL LUCENT& Member of the Board of Directors, ALCOA, MERCK, HP
  • John Studzinski, Senior Managing Director & Global Head, BLACKSTONE ADVISORY PARTNERS LP

The program did put forward ideas and concrete proposals for both corporate executives and investors to:

  • establish a more effective dialog on long-term objectives and risk appetite, and assure that investments are in line with those objectives
  • actively engage asset owners and build long-term relationships
  • develop and demand long-term metrics on the performance and health of the company
  • adjust the structure of corporate governance to enable long-termism

As one would expect the discussion was highly dynamic and encouraged extensive Q&A and audience engagement with the panelists. Audience members included a select group of ca. 90 c-level executives, executive level representatives from pension and sovereign wealth funds, PE community & selected funds, relevant other financial services, consulting firms, legal advisers.

[11/21/14] EACCNY Newsmaker Breakfast at Bloomberg with the Honorable Stefan Löfven, Prime Minister of Sweden

On November 21, 2014, in partnership with the Embassy & Consulate of Sweden and Bloomberg L.P., the European American Chamber of Commerce New York EACCNY held a private breakfast for the recently-elected Prime Minister of Sweden, Stefan Löfven.

The program was part of a select group of meetings held as part of the Prime Minister’s first visit to the United States, since he has taken office.

At this Newsmaker Breakfast, Prime Minister Löfven was interviewed by Bloomberg TV’s Trish Regan. The Prime Minister highlighted some of his core beliefs about the role of the Swedish government and its role within the European Union, he emphasized the importance of European unity for continued economic recovery.

The conversation also addressed his role as the head of a minority coalition government, the Prime Minister Löfven stressed the importance of the government’s role in supporting education, job creation, and welfare and ultimately creating a “win-win-win” for Swedish citizens and businesses, as well as for the Swedish and European economies in general.

Prime Minister Löfven has served as chair of the Swedish Social Democratic party since 2012, and between 2005 and 2012 was an alternate member of the Executive Committee of the Social Democratic Party. In addition, between 2006 and 2012, Mr. Löfven chaired the Metalworkers’ union IF Metall and between 2002 and 2007 was also an alternate board member of the European Metalworkers’ Federation.

[12/09/14] Private Dinner with António Pires de Lima the Portuguese Minister of Economy

On December 9, 2014 together with AICEP Portugal, EACCNY hosted António Pires de Lima. As the Portuguese Head of the Ministry of Economy, António Pires de Lima is the Government officer responsible for conducting public policies leading to the ongoing economic recovery, under a strong mandate for economic growth and job creation. He was chairman of the Executive Commission of “Unicer, Bebidas de Portugal”, from July 2006 until July 2013 when he took office at the head of the Ministry of Economy.

[12/12/14] Reception with Prime Minister of the Republic of Estonia, Taavi Rõivas, and a Business Delegation of Entrepreneurs and Investors Accompanying him to New York

EACCNY was asked to invite a select group of members to a reception held on December 12, 2014 at Alegro Pianos welcoming the Prime Minister of Estonia on his first visit to New York City.