May 2, 2023

Leading financial experts to explore security of the banking sector at inaugural Gong Talks event

Former Federal Speaker and Member for Cunningham Stephen Martin AO to lead discussion on challenges facing banks

It’s a question gaining traction after the recent collapse of Silicon Valley Bank and Signature Bank and takeover of First Republic Bank and Credit Suisse – if we are facing another Global Financial Crisis, is my bank secure?

Tonight (Tuesday 2 May 2023) leading financial experts, including former Federal Speaker and Member for Cunningham Professor Stephen Martin AO, will gather at the University of Wollongong (UOW) for the first UOW Local Gong Talks event to answer this very question.

Professor Martin is the Chairman of the Bank of China and has had a career spanning academia, and business and economic development. He will join banking and finance experts Professor Millicent Chang and Dr Paul Mazzola for a panel discussion and Q&A which will be moderated by UOW Senior Deputy Vice-Chancellor and President (Innovation, Enterprise and External Relations) Professor Alex Frino.

Discussions will focus on financial crises, corporate governance and insider trading. Professor Martin said he understands why people are concerned about bank failures.

“People are right to be concerned about bank failures in the northern hemisphere, but fortunately Australian governments and our financial regulators have put rules in place that mean our banks are strong, well-capitalised and profitable,” Professor Martin said. 

“The massive failure of regulators in the United States and Europe were the culprits in the Global Finacial Crisis.

“Consumers need to be vigilant however in this era of breaches in cyber security.”

The inaugural Gong Talks event is an initiative of UOW Local, a flagship program aimed at building stronger connections within the community. UOW Local Manager Tania Brown said Gong Talks provides an opportunity to bring local community together with subject matter experts and Faculty staff to share and discuss topical issues of relevance to the community.

“We see UOW as an anchor institution of the Illawarra and through UOW Local we hope to provide more opportunities, like tonight, for community members to learn more about the University and increase engagement on a range of levels,” Ms Brown said.

“The recent volatility in the banking sector with the collapse of two institutions, and rising concerns about security of Australian financial institutions provided a worthy topic for our first Gong Talk.”

UOW Senior Deputy Vice-Chancellor and President (Innovation, Enterprise and External Relations) Professor Alex Frino will bring his own unique perspective to the event as he moderates the discussion.

Professor Frino is a distinguished financial economist whose expertise also extends to corporate actions of major listed companies (mergers and acquisitions, initial public offerings and other equity offerings); interpretation of the release of company financial reports (profit and loss and balance sheets); and corporate risks (including cyber and operational risks).

“Tonight’s first Gong Talk will provide a platform for leading finance experts and community members to  collectively examine the challenges facing the banking sector,” Professor Frino said.

“It’s a wonderful opportunity to come together for an insightful and thought-provoking conversation on our very own UOW campus.”

The event will take place this evening from 7pm – 9pm in the Jillian Broadbent Building, Room G10. For more information about UOW Local please contact tania_brown@uow.edu.au