Next edition of Innovation for Financial Services

The website for the 2014 edition of Innovation for Financial Services is now online here!
The pictures from the 2013 edition are also available here.

Innovation for Financial Services

"Innovation for Financial Services" is a series of specialised international events for people working with innovation in the financial services sector. The aim is to visit prime financial services centres across the world, building connections between financial services professionals and academics and enabling them to present and discuss the latest developments relating to innovations for, and within, the financial services sector.


The 2013 Innovation for Financial Services Conference will take place in Singapore on 24 & 25 October 2013. Hosted by Singapore Management University (SMU), this Conference includes various keynote speeches, parallel sessions, discussion panels, and interactive sessions on innovation for financial services, both from a practitioner and an academic point of view. It will provide excellent opportunities to discuss and share experiences with academics, practitioners and policymakers, together with a taste of the international character of Singapore, enjoying its modern architectures that are combined with traditions such as harmony between man and nature.


Confirmed Speakers

Please click their affiliation details for more information.

Tamara Henderson
Senior Economist, Brief Asia Economics
Bloomberg L.P.

Dr. Henderson (PhD, CFA) is an economist with buy- as well as sell-side experience, covering G3 economies and the emerging markets over a span of 25 years. She has focused on FX and rates strategy over the last 13 years and has accumulated a strong track record for her trade ideas.

In previous roles, she worked as a strategist for ANZ Banking Group and was deputy head of the International Monetary Fund's Investment Unit. She is a CFA Charterholder and the author of Fixed Income Strategy: A Practitioner's Guide to Riding the Curve, published by Wiley. She contributes to the Asia Brief, which is a daily newsletter provided to Bloomberg clients and subscribers.

Peter Gill
Vice President, Banking & Financial Markets - ASEAN

Mr. Gill (MBA) is a seasoned executive with over 28 years of banking strategy consulting, systems integration, and sales experience. He has worked with clients globally to help them achieve competitive advantage through business and technology innovation. Some of his clients include HSBC, ING, Merrill Lynch, Australia New Zealand Bank, National Australia Bank, Royal Bank of Canada, Toronto Dominion Bank and Canadian Imperial Bank of Commerce.

He is currently the Vice President of Banking and Financial Markets for IBM ASEAN. He is responsible for the strategy, execution, business results and client satisfaction for the full range of IBM's Banking and Financial Markets business in ASEAN. Prior to his current role, he was the Client Director for a top 50 Canadian Global Bank, Global Client Partner for many banks in Canada and Australia, as well as the lead Partner for IBM's Canadian Financial Services Strategy Practice.

He has authored several papers by leveraging his experience in transforming large enterprises that have been published in many journals. He is frequently referenced in the press and continues to chair and present at numerous industry conferences. He holds an MBA from the Schulich School of Business, York University and a BA from the University of Toronto.

Fernand Grulms
Member of the Management Board
Luxembourg Bankers Association

Mr. Grulms holds a Masters degree in finance and quantitative economics from the University of Liège in Belgium. He also took courses in actuarial science at the University of Louvain la Neuve. He is a certified pension actuary registered with the Luxembourg social security supervisor IGSS. He worked for several banks in Luxembourg and has gained 30 years' experience in finance. He was the Chief Economist of the ABBL and later managing director of PECOMA, an actuarial and pension consulting firm in Luxembourg. Back to the ABBL, he was appointed by the Luxembourg Government as the CEO to launch the Development Agency "Luxembourg for Finance" in 2007.

As from July 2013, his mission at "Luxembourg for Finance" came to an end and he returned to the ABBL as Member of the Management Board in charge of Economics & Studies, Relations with the Members as well as Private Banking and Commercial Banking. He lectured on "Techniques & Mathematics of Finance" at the University of Luxembourg from 1987 to 2004. As from May 2013 he has joined the teaching staff of the Luxembourg School of Finance where he is a lecturer in the Master in Wealth Management program. He is the founding Chairman of the Economist Club Luxembourg.

Andrew Khaw
Senior Director, Industry Development Group
Infocomm Development Authority of Singapore

Mr. Khaw oversees the Industry Development Group whose intent is to work with industry, agency partners and industry bodies to position Singapore for a competitive future in the global infocomm industry. His group comprises the Enterprise Infocomm and Consumer Infocomm sectors, Entrepreneurship and Start-ups, Manpower Development, International Operations as well as promotion of infocomm adoption for Small and Medium-sized Enterprises (SMEs).

Before joining IDA, he was the Vice President, New Markets with Ascendas Pte Ltd, leading the company's business development in markets such as Middle East, North Africa and Russia. He was with IE Singapore from 2002 to 2007, where he worked closely with companies in the ICT, Electronics & Precision Engineering, Infrastructure, Education and Healthcare sectors. He was instrumental in helping companies in these sectors expand beyond the shores of Singapore. Among his many achievements at IE Singapore were: the formulation of internationalisation plans for Singapore's interactive digital media sector and the creation of the S$30million International Partners (iPartners) programme for consortium formation to serve overseas markets.

Prior to IE Singapore, he was with the Economic Development Board (EDB) where he started his career in 1994. During his tenure at EDB, he contributed to promoting investments in the Engineering sector and attracting investors in the US Midwest where he was based for three years. He graduated from the National University of Singapore with a Masters of Mechanical Engineering in 1993.

Eric Lemieux
Chief Executive Officer
Finance Montreal / International Financial Centre Montreal

Mr. Lemieux (MBA) is Chief Executive Officer of the International Financial Centre and Finance Montréal since 2012. A high level manager and entrepreneur, he holds an MBA from Laval University and has also completed the Advanced Management Program at Harvard Business School. He was as Vice President at Desjardins Financial Group, where he held, among others, positions of: Vice President Personal Banking; Vice President, Wealth Management; and Vice President Technology Property & Casualty Insurance.

Anne-Laure Mention
Head of Research Unit
Public Research Centre Henri Tudor

Dr. Mention is leading a research unit focusing on innovation economics and management within the Public Research Centre Henri Tudor, Luxembourg. She is actively involved in research projects, mainly focusing on innovation and performance measurement and management in the financial and business to business services industries.

Her research interests mainly concentrate on open and collaborative innovation, intellectual capital measurement and management, innovation and technology management. She has been a Visiting Researcher at McGill University, Canada and Ferrara University, Italy. She received an IBM Faculty Award for the project entitled:Towards accrued transparency of operations in the fund industry’ in 2011 focusing on organisational innovation and an award for the project entitled Measuring the impact of Open Innovation in 2013. She is also a founding member of WICI, LUXIC, and the Deputy Head of the ISPIM Advisory Board.

She is also a member of several scientific committees and editorial boards and a member of the New Club of Paris. She is one of the founding editors of a new journal focusing on innovation management.

Steve Monaghan
Chief Innovation Officer
DBS Group

Mr. Monaghan is currently Chief Innovation officer at DBS Group. Prior to this, he was CEO of Competitive Capital, a boutique advisory firm specializing in bank turnarounds, working capital advisory and mobile payments.

In the past, he conducted the nine-month $100 million return to profitability turnaround in the retail banking operations of Japan’s Shinsei Bank. He has also been head of consumer finance at OCBC, head of e-commerce at Citibank Singapore and ran one of Citibank's global settlement businesses. He filed for and was awarded Citibank's first mobile payments patent and was on the CEO's global working capital team.

Jeff Nicholas
Head of Channel Innovation
Standard Chartered Bank Singapore

Mr. Nicholas has nearly 20 years’ experience in banking, payments, e-commerce and technology. As Channels Innovations Head at Standard Chartered Bank, he drives new solutions for a rapidly changing world across “Consumer Bank Digital Channels” including mobile and internet banking, software development methods and technologies. 

Prior to joining SCB, Jeff held technology leadership positions at, Citibank, PTI and Arthur Andersen; building expertise in e-commerce, security technology, smart card payment systems, and EMV. He is currently based in Singapore, but has lived and worked in America, Europe, and Asia.

Rajendra Srivastava
Provost and Deputy President (Academic Affairs)
Singapore Management University

Dr. Srivastava is Professor of Marketing and a leading authority on the impact of marketing on business performance. He is frequently invited as a keynote speaker on topics such marketing metrics, value of market-based intangible assets (brands, channels) and management of growth and risk.

His research contributions, assessing the impact of marketing strategy and financial performance, are used globally to examining marketing productivity. His work linking market-based assets and market-facing processes to shareholder value in the Journal of Marketing received both the 1998 Maynard Award for the article judged to contribute most to the development of theory in marketing and the MSI/Paul Root Award for the article judged to contribute most to the practice of marketing—the only time a single article has won both awards – as well as the AMA/Sheth Foundation Award for long-term impact on marketing.

A graduate of the Indian Institute of Technology, he received his MBA and Ph.D. from the University of Pittsburgh. He has provided executive training and consultancy services for companies spanning North America, Europe, Asia and Africa.

Eric Tan Heng Chong
Lecturer on Financial Innovation
Nanyang Technological University/NBS

Mr. Tan Heng Chong (MBA) was formerly General Manager, Asia Client Services at RBC Dexia Investor Services in Singapore, and Head of Institutional Banking and Custody & Clearing at HSBC in Singapore. Upon graduating from NUS in 1981, he worked as an electronic warfare engineer with the Ministry of Defence, Singapore. He subsequently joined the MBA program at University of Michigan Ross Business School.

In 1985, he was recruited on campus by Continental Illinois Bank (now Bank of America Merrill Lynch) as a management associate. In 1989, he joined HSBC and by 1995 he was heading the Business Development team. In 1997 he was appointed as Head of the Institutional Banking business unit for the Singapore branch. Under his management, the HSBC custody business unit was ranked the industry’s top Singapore sub-custodian by the Global Investor journal for 5 years running. In 2003 he joined RBC as its Regional General Manager for Client Services and he helped set up RBC’s Beijing Branch. In 2006, RBC entered into a global joint venture with Dexia Bank in the investor fund services and he was transferred to RBC Dexia as General Manager. He left RBC Dexia in 2008 and acted as a management consultant for KMC Berhad, a food manufacturer in Johore Bahru, Malaysia until 2009.

He is now a consultant, training bank executives. He has taught senior executive programmes conducted by the Nanyang Business School, NTU. The NTU programmes included training executives from CIMB, ICBC and Government of Thailand Savings Bank. Apart from NTU, he has also worked with Google in training their executives. He is sits as an independent Director on the board of a foundation.

Stuart Smith
Chief Service Innovation
Institute of Systems Science at NUS

Mr. Smith is an expert in service transformation and innovation. His experience spans major private and public-sector clients around the world. He originally trained as an environmental technologist at Imperial College of Science Technology & Medicine, London. After graduation, he was employed as a consultant advising organisations on environmental monitoring and policy. He built up an expertise in environmental informatics including GIS, environmental monitoring networks and computer models.

During the boom, he was headhunted to join a major global telecoms firm working in an "Internet Centric" service strategy team. Reporting into the Board, this team developed and delivered some of the most ambitious service innovation projects of the time primarily using internet based technologies. His primary role was to scout new technologies and provide change leadership in adopting these approaches particularly in HR and ICT functions. Since returning to the consulting world, he has acted as CEO of Wood Holmes creating a niche innovation company that works around the world on complex service innovation, digital innovation and sustainability consulting.

In addition, he has expanded the practice internationally with interests in mainland Europe, India and Singapore. Clients include some of the biggest corporate brands and governments including CISCO, Akzo Nobel, BBC, Marks & Spencers, ACAS, O2, Bouygues, Deloittes, HSBC, SABIC, British Telecom, and UK Design Council. He has presented keynotes at several conferences as well as publishing a number of papers and articles on service innovation.

Francesco Lagutaine
Regional Head, Customer Franchise
Citi Asia Pacific

Mr. Lagutaine is Citi’s Asia Pacific Head of Customer Franchise responsible for marketing, client experience and loyalty, decision management and e-Business. Most recently, he led the development of a new go-to market strategy establishing Citibank as a high street retail branding Asia Pacific. This included a complete redesign of Citibank branches, developing a new philosophy of service and customer interactions and redefining the end to end customer experience seamlessly across digital and physical channels.

Prior to his Asia Pacific appointment in June 2009, Francesco was based in New York as Citi’s Vice President, Global Marketing responsible for Strategic Communication for all markets outside the U.S. In that role, he led the development and market launch of Citi’s new global banking offering. This included the development of a product positioning strategy, specific customer driven product solutions, an on-line product delivery channel and a 360 marketing communications platform. The marketing launch covered 16 markets, 10 of which werein Asia Pacific. Francesco joined Citi in January 2005 and he was part of the core team that led the development and roll out of Citi’s brand re-launch across 43 markets in 2007.

Fresh out of law school, he started his career at Lowe & Partners, a top advertising agency in Frankfurt (Germany). He then moved to Saatchi & Saatchi in Germany and then, in 1994, to London, where he worked on pan European accounts, Procter & Gamble and HP. In 1998 he moved to HHCL + P and in 1999 he moved to San Francisco as Global Account Director for Pepsi for Goodby, Silverstein & Partners (GSP). In 2003, he moved to Ogilvy & Mather in New York as Senior Partner, Global Account Director.

Roy Teo
Asia Pacific Head of Technology Risk

Mr. Teo advises the bank’s senior management on technology risks across the region, including Singapore, Tokyo, Hong Kong, Korea, Taiwan and India.

Prior to joining Barclays, he spent 10 years in Monetary Authority of Singapore and his last position was the Head of Technology Risk Supervision Division. His responsibilities included the development of strategies, programs, standards and guidelines for the purpose of regulating and supervising financial institutions in respect of technology risk management requirements and information security processes. He managed a team of 12 technology risk specialists who conduct onsite inspections and offsite reviews to monitor the technology risk management capabilities and the effectiveness of information systems security practices prevailing in the financial sector.

He began his professional career as an e-Business specialist in a Fortune 500 IT Company. Subsequently, he joined one of the Big Four accounting firms based in Hong Kong as a Senior IT Auditor. He has accumulated substantial international experience in handling assignments throughout Singapore, Malaysia, Hong Kong, Macau, China and the United States of America. Overall, Roy has acquired 15 years of knowledge and expertise in information systems security and IT audit. He graduated from the National University of Singapore with a Bachelor of Science in Information Systems and Computer Science.

Marko Torkkeli
Professor of Technology and Business Innovations
Lappeenranta University of Technology

Dr. Torkkeli is Professor of Technology and Business Innovations at the Lappeenranta University of Technology in Kouvola, Finland. His research interests focus on technology and innovation management, strategic entrepreneurship, and growth venturing. He has about 140 publications to his name in these fields.

He is a member of the editorial boards of the Int. J. of Services Sciences, Conradi Research Review and the Int. J. of Innovation Management. He is a Visiting Researcher at INESC Porto (Portugal), a Docent of Technology-based Business at University of Jyväskylä (Finland) and a Docent of Technology and Innovation Management at Helsinki University of Technology (Finland). He serves as the Director of Research of the International Society for Professional Innovation Management (ISPIM).

Vivekanand Gopalkrishnan

Director of Research
Deloitte Analytics Institute Asia

Dr. Gopalkrishnan has nearly 20 years of experience in research, teaching, consulting on the development of practical solutions to real-world issues using analytics. He has advised clients on strategies for driving data-driven insights, and specializes in architecting innovative solutions that mine insights even when the data is not “well-behaved.” His research covers data mining, machine learning and data warehousing, and he has published over 50 papers in these fields.

He continues to actively serve the academic and research communities. He is on the editorial boards and review committees of leading research journals, and on the program committees of top international data mining and information management conferences. As a passionate educator, he continues to guide university academic programmes and research councils in analytics.

Azhar Muhammad-Saul
Head of Asia Pacific Enterprise Content and Distribution Services
Bloomberg L.P.

Mr. Muhammad-Saul is Head of Technical Sales and Client Services for Asia Pacific Bloomberg's Enterprise Content and Distribution business. He leads the Asia Pacific team for Bloomberg’s Enterprise Content and Distribution (ECD) Technical Solutions business.

Based in Singapore, he has nurtured Bloomberg's relationship with industry thought-leaders and client organizations to foster a user community that shares insights, requirements and best practices with ECD leadership, product managers and the network at large.

During his 13 years at Bloomberg, he held various leadership positions in Europe and Asia. As head of Enterprise Solutions sales for London, he was part of defining the Bloomberg Value Solutions (BVS) initiative, a consultancy service which helps customers be more productive on the Bloomberg platform.

Most recently, he was Head of ASEAN sales for the Bloomberg Professional service where he led the development of a price discovery platform for structured products. Prior to joining Bloomberg, he was an investment advisor and partner at J. Rothschild Partners.


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Invited Speakers

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Journal Special Issues

Selected papers will be invited for submission to a special issue of "Technological Forecasting and Social Change" entitled "Capital markets in the 21st century: Transformation through technological change, regulatory reform and financial innovation" and for 2 special issues of renowned innovation management journals.


Why Singapore?

Singapore's strategic location as one of the busiest crossroads in the world makes the island a natural meeting place for conventions and exhibitions. Set in the heart of ASEAN - the Association of South-East Asian Nations - Singapore's neighbours, Malaysia, Thailand, the Philippines, Brunei Darussalam, Laos, Myanmar, Indonesia and Vietnam, are all within a two-hour flying radius. Most Asian capital cities are within a six-hour flying radius, including Tokyo, Seoul, Beijing, Hong Kong, Taipei, and New Delhi.


Famous as the "Lion City", Singapore lies at the focal point of age-old trading routes, where cultures and traditions have come together for almost 200 years, creating an enthralling mix of sights and sounds. Yet, alongside this heritage, skyscrapers reach towards a new century, symbols of a thriving business community based on information technology, an efficient workforce and a sophisticated infrastructure.


Singapore provides a stunning variety of sight-seeing and entertainment, set in a safe, clean and green island city. The island offers a diversity of pubs, discotheques, cinemas, opera theatres, music lounges, tourist attractions and shopping centres to make your stay enjoyable and memorable.


Singapore - where East meets West. Experience the best in business and pleasure!


For more information on Singapore, visit the Singapore Tourism Board website.


Further Information


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