On 6 March 2019, UniCredit’s London premises at Moorgate was home for the “GSS London Roadshow”, a whole day designed to inform clients and partners of UniCredit Global Securities Services, to discuss developments currently impacting the CEE securities markets and to share insights and updates on regulatory and market infrastructure going on in the region.
The program attracted not only UK based visitors, some of the guests travelled to catch up with the GSS team from other parts of Europe, enhancing the networking function of the event. Throughout the day attendees were hosted by Júlia B. Romhányi, Global Head of Securities Services and by members of the GSS Relationship Management Central Team, while our GSS locations were represented by delegates from the majority of our markets.
After meeting and greeting over a cup of coffee, Júlia kicked off the event by welcoming guests who devoted the day to find out about all the novelties and developments going on in the GSS universe and she gave an outline of the current market position of UniCredit GSS and of the fundamentals the team works by every day. She claimed: “CEE is a very competitive region in terms of providers. It is even more important to ensure a sustainable business model, competing on service quality and building a strong, long term business model accordingly”.
After Júlia’s introduction, Dan Bucsa, UniCredit’s Chief CEE Economist provided a broad overview on the macroeconomic scenario of the CEE region. This time, quite conveniently, a special focus was devoted to Brexit and its possible effects. Moving on, Federico Pirola, from UniCredit ICT and Security Office, covered the importance of cyber security for the industry today.
Simone Del Guerra, Global Head of Financial Institutions Cash and Trade Sales, shared an extensive overview on the business perspective with a special focus to Global Transaction Banking and the tailor-made products and services that UniCredit offers in order to satisfy the local and cross-border needs of international financial institutions.
The afternoon sessions began with a panel moderated by the Head of Global Sales and Relationship Management, Beáta Szőnyi where market representatives engaged in a discussion about ongoing and future regulatory changes which effect all participants of the industry in the CEE region. Local specifics and strategies to adapt to the new regulations were outlined in connection with CSDR, with special focus on the securities settlement discipline regime and Shareholder Rights Directive II.
Another panel discussion, led by Dario Mariotto, Global Sales and Relationship Manager explored recent market infrastructure changes and developments with the help of the relevant delegates revolving around the main players of the market architecture, the CCPs, the CSDs and the Stock Exchanges.
John Gubert, a person so well-known in the securities services business, currently chairman of GTL Associates Ltd. gave a fascinating speech on the future perspectives of the industry. Looking at the future landscape from different angles, such as clients, products, infrastructure, regulations and technology he concluded that the consolidation of the industry among investors, global custodians and broker dealers will continue, with growing focus on dependable contingency at all parts of the value chain.
Recapturing the various topics of the day, Júlia, in her closing remarks emphasized that the current face of the industry inevitably requires everyone at GSS to be prepared facing many challenges going forward and to stay flexible, innovative, risk aware and do things right from the very first place. She emphasized that UniCredit will continue enhancing its product line, focusing on people and the development of the know-how, continuing to keep the customer in the center. Next time, if you are also interested in learning of the latest developments, please join the GSS team at one of the upcoming events of which you will be informed.
Head of Secretariat
Global Securities Services Hungary