Discussion Series “Binder Grösswang impulse”: “Where is the Capital Market Headed?”
At the latest discussion in the series "Binder Grösswang impulse", on 29 November 2012, moderator Angelika Ahrens (ORF economics department) posed the question "Where is the Capital Market Headed?" to an illustrious panel of experts: Dr. Dirk Notheis, CEO of Morgan Stanley Bank AG, Andreas Schieder, State Secretary at the Federal Ministry of Finance and Dr. Peter Untersperger, CEO of Lenzing AG. As always, the panel discussion took place at the firm's premises in Vienna.
Dirk Notheis spoke about the growing impact of politics on the financial markets and mentioned, in this connection, that it has become more difficult for business owners to utilise the capital markets with confidence.
Untersperger expressed the opinion that the recurring tense situation between managerial finance and the real economy has made it obvious, for the second time within a very short period, how closely related and fragile these markets are. He believes, however, that there is a growing realisation that the market is not always right and that the state should not always remain in the background. The capacity to act and make effective decisions, both of which unfortunately are often lacking, are needed now more than ever, Untersperger emphasised: "In Europe and the USA, at least, the various market theories are having an intense and dramatic impact not only on the markets but also on business enterprises and individuals. At a time when political opinions, currencies, interest rates and share prices are all fluctuating – sometimes wildly – from one day to the next, the need for trust and clear communication is greater than ever before. Clear and positive thinking is required.
Among the guests who participated actively in the discussion were: Johannes Attems (Vorstandsmitglied Österreichische Kontrollbank AG), Peter Brandner (Senior Advisor, BMF), Christian Büttner (Geschäftsführer Independent Capital GmbH), Gabriele Csoklich (Leiterin Finanzierung, Head of Treasury and Finance ASFINAG), Freimut Dobretsberger (Aufsichtsratsvorsitzender A-Tech Industries AG), Hannes Enthofer (Geschäftsführer Finance Trainer International), Werner Fleischer (Vorstandsmitglied VERBUND Austrian Power Trading AG), Rudolf Jettmar (CFO, Österreichische Post Aktiengesellschaft), Hans-Georg Kantner (Leiter Insolvenz, Kreditschutzverband von 1870), Reno Kroboth (Geschäftsführer, Independent Capital GmbH), Michael Martinek (Vorstandsvorsitzender, Schelhammer & Schattera AG), Erich Obersteiner (Managing Director, UBS Niederlassung Österreich), Angelika Swoboda und Markus Richter (beide ÖBB-Holding AG), André Tissot (Generaldirektor Société Générale), Gilbert Trattner und Stefan Urmann (beide ÖBB-Infrastruktur Aktiengesellschaft), Harald Triplat (Mitglied des Vorstandes, card complete Service Bank AG), Anton Ulmer (Executive Director, Morgan Stanley), Oliver Zenz (Vorstand, GrECo International AG).
The discussion series "Binder Grösswang impulse" was initiated in the spring of 2009 by the commercial law firm Binder Grösswang. The discussions, led by panels composed of outstanding personages, focus on topics of current interest and are held three or four times annually in exclusive surroundings at the firm's premises in Vienna.