BIS governors’ meeting: climate transition, wealth management and financial sector digitalisation to drive Asian economy, panel hears
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“The rise of the new innovation economy, and the opportunities that we see in this part of the world to rethink financial services, is in its prime,” Filippo Gori, JPMorgan Asia-Pacific’s CEO, said on a panel titled “Banking on Asia for the Long Haul” at the HKMA-BIS High-Level Conference 2023.
Asia is rich with talent in the innovation sector, with roughly one-third of the bank’s global workforce based in the region, Gori said. Developing technology that can support the financial sector, particularly in areas such as payments settlement, will be a major opportunity for the region, he added.
Green finance and the “opportunity and challenges” that an energy transition would bring were also discussed by the panellists.
“Asia-Pacific represents 45 per cent of global carbon emissions, with three of the top five emitters,” Gori said. “You can see how this can be a challenge, but can also be an opportunity for the region.”
