The Business Council U.S.

The financial industry expects a friendlier regulatory environment in the next administration, but PNC CEO William Demchak cautions against setting expectations too high. Demchak expects changes to liquidity requirements, a smoother path to M&A and “perhaps the elimination of some of the more frivolous lawsuits and charges and changes to fees and other things.” https://lnkd.in/eZVTeExG #finance #banking #regulation

“We are sitting in the middle of the greatest change in the history of transactional finance.” That’s what Ken Moelis of Moelis & Company recently said at a Financial Times event. He discussed the financial world's evolution in recent decades — including the effects of regulation, the 2008 financial crisis and 2023’s collapse of SVB. “I think what people are missing is the entire transaction finance world is radically changing from a bank-centric market where it was for most of my career to alternatives, life insurance, pension funds, sovereign wealth, match funding,” he says. https://lnkd.in/dfD_PfVr #finance #banking

Chevron CEO Mike Wirth expects a lower regulatory burden on energy companies during the next administration, although the US will continue developing different kinds of energy across the board. “The US is an energy superpower. We have a strong diverse energy economy, and it is fundamental to our economic competitiveness,” he says. “We need all of these solutions.” https://lnkd.in/epyrFieR #energy #oilandgas #energyindependence

Expect a 25-basis-point cut to interest rates this month, says Roger W. Ferguson, Jr., vice chairman of The Business Council U.S. and chair emeritus of The Conference Board. After that, he expects the Fed will enter “wait-and-see mode” on further cuts. https://lnkd.in/ejw7QFZi #federalreserve #interestrates #economy

Congratulations to AMD CEO Lisa Su for being named CEO of the Year by TIME! https://lnkd.in/ekiwXrWf #ceos #womenceos #ai

As people live longer, the need arises for financial education so people can properly save for retirement, says TIAA CEO Thasunda Brown Duckett. This challenge continues to evolve, especially with the shift from pensions to 401(K) plans. “I don't think it's about a failure or a success. I think it's always about iterating and always about looking at, how do we work with government? How do we work in industry to continue to understand what is getting in the way for people to allocate to their retirement, but also stay in their retirement plans in a way that it can ultimately work for them for the long term?” she says. https://lnkd.in/egxEewGY #retirement #401k #financialplanning

Nokia hasn’t made cellphones in years, but that’s still how many people recognize the company. This presents an opportunity, says CEO Pekka Lundmark. “The big challenge is to explain to all of these enterprise verticals. We are attempting to capture from their mind the fact that they all know the name Nokia and reposition it as a B2B technology leader, as a trusted partner for critical networks,” he says. https://lnkd.in/eK-fEKa9 #branding #leadership #ceos

The promise of AI is extraordinary, but people shouldn’t think that it’s taking over our society, says Salesforce CEO Marc Benioff. “Has the AI taken over? No. Has AI cured cancer? No. Is AI curing climate change? No. So we have to keep things in perspective here,” Benioff says. “We have incredible tools to augment our productivity, to augment our employees, to improve our margins, to improve our revenues, to make our companies fundamentally better, have higher fidelity relationships with our customers. But we are not at that moment that we've seen in these crazy movies. And maybe we will be one day, but that is not where we are today.” https://lnkd.in/eHbEU669 #ai #artificialintelligence #genai

ExxonMobil CEO Darren Woods was at the recent COP29 conference to discuss the role of fossil fuels in the energy transition — including the economics involved. “That’s the challenge of the transition. It's going to be more expensive. And today, the market won’t bear that additional cost,” he says. “And so as a company that has a responsibility to invest and generate a return, I’ve got to find ways to do that without market forces that exist today, without the demand or the customer base that’s willing to pay for it.” https://lnkd.in/eDD8rkbA #emissions #cop29 #energytransition

Veolia CEO Estelle Brachlianoff is optimistic about the business world’s shift from recognizing climate change to taking action against it. "Twenty years ago, we thought a few things were absolutely impossible, and I've seen them happening. We thought we couldn't recycle things, which now we can recycle," she says. "We are much more efficient in many, many ways. We are even using gen AI to save energy on water. Would you think that would be possible 20 years ago?" https://lnkd.in/eAUVirK2 #climatechange #ecology #environmentalservices