The CFA Institute has called for “capitalism with a purpose for the world” on the tenth anniversary of the global financial crisis, as the organisation gathered over 1,000 investment professionals from across the globe at its annual conference in Hong Kong.
Paul Smith, CEO, said charterholders should do their bit in not only generating value for investors, but also foster an industry that can better serve wider society.
“Our industry’s future hinges on proving to our clients – both institutional or private — that not only are their interests at the core of what we do but that we also recognise that finance plays a pivotal role in helping the communities we serve attain their objectives: financial, environmental and social,” Smith said.
He argued that there were four ways to achieve ‘capitalism with purpose’: increasing levels of trust among investors globally; the rich history of the profession in creating societal and community benefits; lessons learned from emerging economies in addressing public needs within their newer financial frameworks; and the responsibility of CFA charterholders to be model leaders with high ethical and professional standards.
He also called for financial inclusion and enabling more people to access financial opportunity.