\n
\nA mediados de julio, el Consejo Consultivo de Mercado de Capitales del Ministerio de Hacienda de Chile y el Comit\u00e9 de Emisores de Valores de AmCham organizaron la tercera versi\u00f3n del Chile Day (en la Bolsa de Valores de Nueva York). Por primera vez, se unieron a los emisores chilenos de deuda y acciones varias autoridades de Gobierno -encabezadas por el ministro de Hacienda Andr\u00e9s Velasco- as\u00ed como tambi\u00e9n representantes de bancos, corredoras de bolsa, bolsas, depositarios, auditores, agencias de calificaci\u00f3n de riesgo crediticio, fondos de pensiones, compa\u00f1\u00edas de seguro, administradores de activos y firmas de abogados de Chile. En definitiva, a los m\u00e1s de 150 participantes de Chile se unieron una cantidad similar de contrapartes internacionales. <\/p>\n
M\u00e1s que el \u00e9xito en la asistencia, lo que distingue al Chile Day 2009 es haber logrado que el evento fuera un esfuerzo p\u00fablico-privado. Los inversionistas de Nueva York no s\u00f3lo pudieron reunirse con altos ejecutivos y equipos de relaciones con inversionistas de Chile para revisar su estado financiero y futuros planes de expansi\u00f3n. Esta vez, tambi\u00e9n tuvieron la oportunidad de reunirse con los reguladores de los sectores burs\u00e1til, asegurador, bancario y de fondos de pensiones o conversar con el titular del Servicio de Impuestos Internos de Chile sobre, por ejemplo, los \u00faltimos incentivos para instrumentos de renta fija para los inversionistas extranjeros. <\/p>\n
El evento tambi\u00e9n entreg\u00f3 a los participantes chilenos la oportunidad de o\u00edr presentaciones de distinguidos oradores tales como el analista econ\u00f3mico del momento, el doctor Nouriel Roubini (quien comparti\u00f3 c\u00e1tedra como profesor de la Universidad de Nueva York con Velasco durante la d\u00e9cada de los 90); el vicepresidente ejecutivo del Banco de la Reserva Federal de Nueva York, William L. Rutledge; y el legendario banquero William R. Rhodes, actual primer vicepresidente de Citigroup.<\/p>\n
Sin embargo, el prop\u00f3sito de esta versi\u00f3n del Chile Day era mucho m\u00e1s que las excepcionales 24 horas vividas en Nueva York, que fueron coronadas con el ministro Velasco presidiendo el tradicional toque de campana de la apertura de las operaciones de la bolsa de valores en Wall Street. Igualmente importante fue la percepci\u00f3n com\u00fan generada entre los participantes del sector p\u00fablico y privado en cuanto a que los Chile Days deber\u00edan sucederse en otros centros financieros alrededor del planeta, ya sea en centros tradicionales (como Nueva York o Londres) o bien en centros emergentes (como Dubai o Shanghai). <\/p>\n
En este proceso, una nueva instituci\u00f3n debe emerger para entregar una respuesta manejada profesionalmente para un evento que demostr\u00f3 el inter\u00e9s de la comunidad financiera internacional en conocer m\u00e1s sobre un peque\u00f1o y distante pa\u00eds como Chile, atra\u00edda por la seriedad de su pol\u00edtica econ\u00f3mica y las capacidades de su capital humano, un factor que es especialmente importante en la industria de servicios financieros. Por tanto, el objetivo no es s\u00f3lo aumentar el inter\u00e9s de los inversionistas extranjeros en los emisores chilenos, sino que promover adem\u00e1s a Chile como un lugar atractivo desde el cual desarrollar servicios financieros para la regi\u00f3n.<\/p>\n
Varias lecciones surgen del Chile Day 2009. La m\u00e1s importante, a mi juicio, es que el esfuerzo conjunto entre los sectores p\u00fablico y privado es m\u00e1s que la suma de las iniciativas independientes que cada uno de ellos hace y este deber\u00eda ser un punto de partida decisivo en un intento serio por ver al sector de servicios financieros de Chile unirse a otras industrias -como la minera o la vitivin\u00edcola- en su reconocimiento a nivel mundial.<\/p>\n
Axel Christensen es asesor de Barclays Global Investors y Cruz del Sur Inversiones, parte del Grupo Angelini. Adem\u00e1s preside el Consejo Consultivo del Mercado de Capitales del Ministerio de Hacienda. <\/b><\/i>
\n
\nIn mid-July, the Advisory Council to the Chilean Finance Ministry and AmCham’s Securities Issuers Committee hosted the third version of the Chile Day. For the first time, Chilean issuers of debt and equity were joined by several government authorities – headed by Finance Minster Andr\u00e9s Velasco – as well as representatives of Chilean banks, stock brokers, exchanges, depositaries, auditors, risk-rating agencies, pension funds, insurance companies, asset managers and law firms. All in all, more than 150 participants from Chile were joined by a similar number of international counterparts. <\/p>\n
More than the success in attendance, what distinguishes the 2009 Chile Day is having achieved this as a joint public-private effort. New York-based investors were not only able to meet with senior executives and investor relationship teams from Chile to review their financial health and future expansion plans. This time around, they also had the opportunity to meet with regulators for the securities, insurance, pension fund and bank industries or to talk with the head of the Chilean tax authority about, for example, the latest incentives for fixed-income instruments by foreign investors. <\/p>\n
The event also gave the Chilean participants an opportunity to hear presentations by distinguished speakers such as the economic analyst of the moment, Dr. Nouriel Roubini (who shared teaching positions with Velasco at New York University during the 1990s), the New York Federal Reserve\u2019s executive vice-president, William L. Rutledge, and legendary banker William R. Rhodes, currently senior vice-chairman of Citigroup.<\/p>\n
However, the purpose behind this version of the Chile Day was much more than the exceptional 24 hours spent in New York, crowned by Minister Velasco presiding over the traditional Opening Bell Ringing at Wall Street\u2019s Stock Exchange. Of equal importance was a common feeling generated among public and private sector participants that other Chile Days should follow in other financial centers throughout the globe, be them traditional hubs (such as New York or London) or emerging ones (like Dubai or Shanghai). <\/p>\n
In this process, a new institution must emerge to provide a professionally-managed response for an event that demonstrated the interest of the international financial community in knowing more about a small and distant country like Chile, attracted by the seriousness of its economic policy and the capabilities of its human capital, a factor that is especially important in the financial services industry. Thus, the objective is not only to increase the interest of foreign investors in Chilean issuers but also to promote Chile as an attractive location from which to develop financial services for the region.<\/p>\n
Several lessons emerge from the 2009 Chile Day. The most important, in my view, are that the joint effort of the public and private sector is more than the sum of the separate efforts that each make, and that this should be a decisive starting point in a serious endeavor to see Chile\u2019s financial services sector join other industries – such as mining or wine production – in becoming recognized worldwide.<\/p>\n
Axel Christensen is an advisor to Barclays Global Investors and Cruz del Sur Inversiones, part of the Angelini Group. He also chairs the Finance Ministry\u2019s Consultative Council on Capital Markets. <\/b><\/I><\/p>\n","protected":false},"excerpt":{"rendered":"
A mediados de julio, el Consejo Consultivo de Mercado de Capitales del Ministerio de Hacienda de Chile y el Comit\u00e9 de Emisores de Valores de AmCham organizaron la tercera versi\u00f3n del Chile Day (en la Bolsa de Valores de Nueva York). Lea la columna de uno de sus asistentes, Axel Christensen.In mid-July, the Advisory Council to the Chilean Finance Ministry and AmCham’s Securities Issuers Committee hosted the third version of the Chile Day. For the first time, Chilean issuers of debt and equity were joined by several government authorities – headed by Finance Minster Andr\u00e9s Velasco. Read Axel Christensen’s column.<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"template":"","news_tax":[],"user_type":[],"class_list":["post-4132","news","type-news","status-publish","hentry"],"acf":[],"yoast_head":"\n