Dear TMAC-Toronto Member,
Please join us for lunch on Thursday, February 28th, 2013 as we present:
Internationalization of the Renminbi (“RMB”)
The Internationalization of the RMB should be of interest to most of us, not just currency specialists.
China is by all accounts an economic powerhouse. It is the second largest economy in the world and the
second largest trading nation. Inbound foreign direct investment (FDI) and outbound direct investment
flows rank first and ninth in the world, respectively. However, China’s currency, Renminbi (RMB), plays
virtually no role in China’s international dealings. In 2009, 98% of China’s international payment was
settled in currencies other than the RMB – 80% in US dollar. This reliance on foreign currencies is costly.
China is responding to this risk by promoting the internationalization of RMB. China’s strategy involves a
three-pronged approach: 1) facilitate international trade and investment denominated and settled in
RMB; 2) develop offshore RMB-denominated financial products and encourage investment in these
assets; 3) encourage central banks to hold RMB as part of their foreign exchange reserves.
To explore what impact this will have on your business, TMAC is pleased to have arranged a panel of 3
speakers from HSBC Bank Canada to discuss their perspective on the impact of the Internationalization
of the RMB Currency on their respective lines of business; Payments & Cash Management, Foreign
Currency Trading, and Global Trade & Receivables Management.
SPEAKERS:
Erin Bennett, Head of Payments & Cash Management, HSBC Bank Canada
Erin has 17 years of practical management experience in sales, strategic planning, product management
and product development in the financial services industry. Erin has been working for major Canadian
financial institutions since 1995 with various roles in commercial and retail banking. Through her
experience in many different functions, Erin has developed an excellent understanding of both domestic
and international payment systems from both an operational and technical perspective with a focus on
NAFTA and the EU. In 2010 Erin was appointed to Head of Payments of Cash Management, HSBC Bank
Canada and is responsible for leading a specialized team, including, Sales, Product Development, Client
On-Boarding and Client Services in support of all commercial Client Segments. The team will focus on
delivering high quality working capital solutions for HSBC clients in Canada and around the globe. In
addition to her responsibilities at HSBC Bank Canada, Erin was recently appointed to the board of the
Canadian Payments Association of Canada and is a member of the Senior Payments Group at the
Canadian Bankers Association. With her industry experience Erin holds a Masters degree in Business
Administration, a Bachelor degree in Commerce and a Bachelor degree in Arts.
Wayne Osborne, Director FX Sales Ontario, HSBC Bank Canada
Wayne Osborne is a 25 year participant in the Canadian FX markets. He has worked in Calgary, Halifax,
Montreal and Toronto with one domestic bank and 2 International Banks covering both Institutional and
Corporate clients. He has been with HSBC for over 6 years. He currently runs the corporate sales team
in Ontario. BA honors in Economics from Queens and an MBA in Finance from Saint Mary's.
Ben Arber, Head of Global Trade and Receivables Finance, HSBC Bank Canada
Ben Arber is a transaction banking specialist who joined HSBC 15 years ago after a brief spell in
investment banking in London. His first role with HSBC was leading a trade business in the Middle East.
Ben then worked with HSBC in Hong Kong, Taiwan, Korea and London, before moving to Canada in 2011.
Trade finance and cash management have been Ben's focus throughout his career with HSBC. His firsthand experience of supporting HSBC clients' needs in emerging markets together with insights into what
international partners in business expect from Canadian businesses will help you focus your business
and better manage your risk.
Date:
Thursday, February 28, 2013
Time:
11:30 Registration and Networking
12:00 Lunch and Presentation
Place:
The National Club
303 Bay St., Toronto
(Macdonald Laurier Room-3rd Floor)
Be sure to reserve your place for this event as space is limited. Please RSVP by e-mail to
Vivien Hall-Cho at admin@tmac-toronto.ca no later than noon on Friday, February 22,
2013.
There is no charge for members, however if you cannot attend you may send someone in your
place for free, just one of the benefits of membership with TMAC-Toronto. Just e-mail Vivien to
let her know the name, company and e-mail address of the person you will be sending so that
we can be ready to welcome them.
Guests are also welcome for a charge of $60.00 plus HST($7.80) for a total of $67.80.