Emerging Markets Business Conference - Guide

EMERGINGMARKETSBUSINESSCONFERENCE

POLAND - COLOMBIA - MALAYSIA

EMBCEMERGING MARKETS BUSINESS CONFERENCE

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The Emerging Markets Business Conference aims to create a dynamic and internationally visible forum in which future leaders engage the most pressing issues facing the emerging markets.

It is the ambition of mine and the whole organizing committee - since the very beginning of the EMBC - to build durable bonds and foster relationships among young global leaders, both in academic and business means.

WeWe want to provide the participants with hands-on knowledge and unique practical experience on the most current issues regarding the rapidly developing economies shared by the Speakers coming from different environments - including academic, business and politics.

However,However, it is not only the day when the discussions about the future of the emerging markets take place, but – more importantly - it is the event that brings us all together – delegates from all over the world representing the top students from renowned universities – to engage in a dialogue about the future.

OnOn behalf of everyone involved in the EMBC – with great pleasure - I would like to thank all of you who have decided to join us here today and emphasize that I am looking forward to foster our collaboration throughout future initiatives and common ventures.

Welcome to the Emerging Markets Business Conference 2013.

Yours faithfully,

Marek FraniakEMBC ChairmanEMBC Chairman

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What is Emerging Markets Business Conference?

EmergingEmerging Markets Business Conference is the biggest conference on emerging markets in CEE region, organized by students from the Warsaw School of Economics (SGH) and University of Warsaw. On the 26th of June, most prominent and experienced Polish and foreign economists, financiers and businesspeople will gather in the Warsaw Stock Exchange in order to talk about new perspectives that the world is facing due to the growth of new economic powers. The participants will include most talented and ambitious students from Poland and other fast-growing markets – young people who are eager both to learn from the best and to share their innovative ideas with the world. Thanks to great media coverage, the valuable ideas share their innovative ideas with the world. Thanks to great media coverage, the valuable ideas presented at the conference will be communicated to a wider audience.

Why the Emerging Markets?

The world is changing extremely fast and the economic leaders of today, such as Germany, UK or the US, are slowly passing the leadership to the so-called emerging economies. Investors, seduced by strongly growth-oriented solutions implemented in those countries are currently placing more and more money in CIVETS countries and other promising emerging economies, including countries from Central Europe e.g. Poland. However, they are not always aware of all the risks involved and do not grasp the whole picture of what is going on in the countries they are investing in.DuringDuring this one-day-long conference, students from all over the world, will have a chance to learn more about this exciting issue and understand both sides of the problem: the chances and the challenges that the fast-growing economies need to face in order to avoid a crisis similar to the one Asian Tigers had to deal with in the 1990s. Not only the knowledge will be shared, but also new ideas will be shaped, so that emerging markets, Poland included, make the most of its priceless resources and continue to develop at a fast rate.

What do we talk about?

TheThe conference will focus on a wide range of topics covering the areas of economics, finance, business consulting and law, and will be held in the form of lectures, panel discussions and workshops. The speakers will talk both about the major challenges faced by emerging economies and their unused social and natural resources, as well as about current investments and financial transactions performed on those markets. Discussion will cover the barriers faced by foreign investors willing to invest in emerging markets.TheThe conference is going to be closed by a cocktail party, to which both students and guests are invited. This will provide the conference participants with great network opportunity.

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• Ryszard Petru, Partner, PwC

• Jaroslaw Dmowski, Partner and Managing Director, BCG

• Adam Czyzewski, Chief Economist, Orlen

• Pawel Maslakiewicz, Sales Managing Director, LOTOS Group

• Marcin Piatkowski, Senior Economist, World Bank

• Jakub Leonkiewicz, Executive Director, J.P. Morgan

• Filip Szubert, Investment Director, Penta Investments

• André Schuurman, Director and Head of Strategy, KPMG

• Tomasz Braun, Board Member, HSBC

• Nuno Sereno, CFO, Jeronimo Martins

• Piotr Bielski, Senior Economist, BZ WBK

• Brian Pinto, Chief Economist, GLG Partners LP


Nuno Sereno started his career at Jeronimo Martins, Portugal in 2002 as Internal Audit Director. In 2008 he became Supply Chain Director in the Pingo Doce chain.

At the begining of 2011 he was appointed CFO and Board Member of Jeronimo Martins Poland.

He specializes in mergers and acquisitions, Diversified Industries Groups. Before joining JP Morgan, he worked at Roland Berger in Berlin.

Jakub Leonkiewicz reveived his Masters in Finance and Banking from the Warsaw School of Economics.

Polish economist. In December 2011 was designated a Partner at PricewaterhouseCoopers.

In 1997-2000 he was an advisor to Leszek Balcerowicz, the then Deputy Prime Minister and Minister of Finance. In 2001-2004 he worked as an economist for the Polish and Hungarian issue at the World Bank, where he was responsible for reforms of public finance, regional policy and investment climate. Until 2008 he occupied a position of the chief economist at Bank BPH, and then worked in the executive functions of BRE Bank and PKO BP.

SinceSince May 2011 he is the chairman of the Association of Polish Economists. He graduated from the Warsaw School of Economics.

He is primarily responsible for managing the existing Penta’s projects in Poland and for analysing new investment opportunities on the Polish market.

Currently Filip is overseeing Penta’s frozen food project – Iglotex Group and the investment in EM&F Group. Filip has been working for Penta since 2008 as an Investment Manager. He was in charge of the acquisition of Iglokrak, one of Poland’s leading frozen food manufacturer and distributor, and its merger with Iglotex. In the new entity, Iglotex Group, Penta is supporting further market consolidation. Before joining Penta he used to work for McKinsey & Company as an Engagement Manager and as a Senior Consultant at BRE Corporate Finance.

FilipFilip graduated from the Warsaw University of Technology with a specialization in Management and Marketing and holds an MBA from Kellogg School of Management. He is also a Chartered Financial Analyst (CFA).

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André Schuurman is a Director at KPMG Poland. He heads KPMG’s Strategic, Commercial and Operational Due Diligence team in CEE, helping clients understand the strategic issues facing businesses they acquire and to increase confidence in their targets’ projections. André also is responsible for Market Entry support for foreign companies considering investing in the CEE region and is the lead author of several studies about inward foreign investment.

André has over 15 years experience in strategy development and due diligence. Before joining KPMG in 2005, he worked for OC&C Strategy Consultants and DiamondCluster (now part of Oliver Wyman).

André holds an MBA from IMD and an MSc in Economics from Erasmus UniversityAndré holds an MBA from IMD and an MSc in Economics from Erasmus University

Senior economist at the World Bank office in Warsaw, resident scholar at Tiger economic think-tank and assistant professor of economics at Kozminski University in Warsaw.

Former Chief Economist at PKO BP, the largest bank in Poland, Advisor to Poland’s Deputy Premier and Minister of Finance and Economist in European Department at the International Monetary Fund in Washington.

Marcin has done his Ph.D research study at Harvard University.

In the years 1994-2002 he worked at BP Poland in positions related to the sale of lubricants, fuels, network management stations and the BP International in the strategic department. From 2003 to 2005 he was Director of Sales at Lurgi. In 2005-2008, as Executive Director of Wholesale at PKN Orlen and Member of the Supervisory

Boards of Petrolot, Orlen Oil, Uniraf and Mazeikiu Nafta Trading House. Since 2009 he worked at SAWEX Chemicals as Chief Commercial Officer.

He graduated from the Cracow University of Technology the Faculty of Chemistry.

Jaroslaw has over 8 years experience in management consulting.

Before joining BCG, Jarek was a Senior Associate with ABN Amro, an Analyst in the Treasury department at KBC Bank, and an Analyst in the IT Department of Citibank.

Jaroslaw Dmowski received his Masters in Finance and Accounting from the Warsaw School of Economics.


Brian Pinto is a Chief Economist (Emerging Markets) and Senior Adviser in the Poverty Reduction and Economic Management Network of the World Bank Group.

His expertise is in sovereign debt and economic growth.

PriorPrior to this, he served as Adviser to the Managing Director (MDO) for Africa, Europe and Central Asia, and South Asia. He has also worked in borrowing operations, the International Finance Corporation, the Europe and Central Asia Region and the Economic Policy and Debt Department. He lived in Poland at the start of its momentous reforms (1990-92) as well as in Russia, witnessing first-hand its 1998 crisis and subsequent recovery (1998-2001). His publications have appeared in the Brookings Papers on Economic Activity, the Economic Journal, Journal of International Economics, The Review of EconomicEconomic Studies and other professional journals. In 2005, a book he edited jointly with Professor Joshua Aizenman, Managing Economic Volatility and Crises: A Practitioner’s Guide was published by Cambridge University Press.

Tomasz Braun, counsel at law, graduate of Law Faculty at the University of Gdansk and of Finance and Banking studies at Ecole Supérieure de Commerce de Rouen, Centre de Formation de la Profession Bancaire de Paris and Gdansk University of Technology. For many years now he has been Board Member of the biggest financial institutions in Poland. Prior to that he had worked as legal counsel at a law firm. He also managed implementation of EU programs (Phare/Tacis CBC Project Facility, Ecos-Ouverture Programme). Expert in international regulations and financial projects, mergers, acquisitions, divi-sions and restructurings of companies, compliance, CSR – corporate social responsibility, EU programs.sions and restructurings of companies, compliance, CSR – corporate social responsibility, EU programs.

He has been with the HSBC Group since September 2008, when he was appointed Member of the Management Board and Legal & Regulatory Line at HSBC Bank Polska SA. Since July 2010 he has been Associate General Counsel for Cen-tral-Eastern European countries with HSBC’s presence.

Adam Czyzewski is Chief Economist in PKN ORLEN S.A. since 2007. He specializes in global energy sector challenges and structural change due to long-term policies, and revolutionary innovations, such as extraction of hydrocarbons from unconventional sources.

His prior experience includes management of macroeconomic research and projections at the National Bank of Poland (Director of Macroeconomic and Structural Research Department in 2001-2007); economic research and forecasting at the World Bank (macroeconomist in 1995-2000) and academic research in economics and econometrics at the Polish Academy of Science and the University of Lodz, Poland and Stanford University, USA.

Piotr Bielski started his work in BZ WBK in 2001 as an economist in the economic department of BZ WBK. Currently he works as the senior economist.

Before starting his work in BZ WBK, he worked in PKO Bank Polski for 4 years where he analysed the Polish economy and financial markets.

Piotr Bielski graduated in Quantitative Methods from the Faculty of Economic Sciences of the University of Warsaw.

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NATIONAL UNIVERSITY OF MALAYSIAThe National University of Malaysia is a public university located in Bangi, Selangor which is about 35 km south of Kuala Lumpur. Its teaching hospital, Universiti Kebangsaan Malaysia Medical Centre (UKMMC) Pusat Perubatan Universiti Kebangsaan Malaysia (PPUKM) is located in Cheras and also has a branch campus in Kuala Lumpur. There are 17,500 undergraduate students enrolled, and 5,105 postgraduate students of which 1368 are foreign students from 35 countries.

UniversitiUniversiti Kebangsaan Malaysia is one of five research universities in the country. It was ranked by The Times Higher Education Supplement (THES) at number 185 in its annual ranking of the world’s top 200 universities for 2006. In the Times Inaugural University ranking top 100, it was number 50 in 2012. It is ranked 98th place in the 100 best universities in the world established within the last 50 years. The National University of Malaysia has been ranked among the world’s top 50 universities established within the last 50 years. It is the only university from Malaysia that made it in the 2012 Quacquarelli Symonds (QS) Top 50 Under 50 list ranked in the 31st place. It placed 53rd and 58th in the QS Top 500 Asian University Rankings in 2011 and 2012 respectively.53rd and 58th in the QS Top 500 Asian University Rankings in 2011 and 2012 respectively.

WARSAW SCHOOL OF ECONOMICSTheThe Warsaw School of Economics was founded in 1906 as the first public university of economics and management in Poland. Nowadays it is the leading business school in Eastern and Central Europe with an extensive network of partner universities from all around the world. It offers innova-tive bachelor, master, doctoral and other postgraduate studies in a variety of disciplines, both re-search and business oriented, to over 16000 students. The Warsaw School of Economics estab-lished and maintains close links with business community what helps the students in finding the jobs right after the graduation. With students coming from almost 60 countries, the Warsaw School of Economics has to be considered a truly international university.

UNIVERSITY OF WARSAW UniversityUniversity of Warsaw (UW), founded in 1816, is the best university and a leading research centre in Poland. The high level of scientific research, its connection with the education of students and the diversity and attractiveness of our teaching determines the position of the University in the country and worldwide. University of Warsaw is recognized by prestigious international rankings such as the Academic Ranking of World Universities (AKA Shanghai Ranking), the QS Top Universities, the Times Higher Education World University Rankings and the CHE Excellence Group 2010.

UWUW educates almost 66,000 students. Currently, there are 19 faculties and 26 other units. The University is a member of 43 consortiums and scientific networks and collaborates with ca 1200 foreign institutions. UW offers undergraduate, graduate and post-diploma studies, organizes summer schools and vocational courses, initiates interdisciplinary programmes and introduces new teaching techniques. National and international companies highly value its graduates, among which you can find many prominent persons, successful entrepreneurs and recognized scholars and writers, including Nobel Prize laureates.

UNIVERSIDAD EAFITUniversidadUniversidad EAFIT was founded in 1960 by a group of entrepreneurs in Medellín with the goal to create professionals ready to answer the new challenges in management, finance and technology for the development of Colombia with the compromise of its industrial organization and economic growth. Today it educates more than 12000 students who can choose between more than 100 programs in all degrees in 3 branches in Bogota, Pereira and Llanogrande.The university cooperates with 140 universities and organizations in 35 countries around the world.

TheThe National University of Malaysia, founded in 1970, is one of the leading universities in Malaysia. It educates more than 17,500 undergraduates and 5000 graduates in many fields varying from social sciences to medicine and economics. In 2012 it was ranked 50th in the Time Inaugural University top 100 ranking.


CEMS CLUB WARSAW

CEMSCEMS Club Warsaw is one of the largest and most active student organizations at the Warsaw School of Economics. Its main aim is to support CEMS MIM pro-gram at the Warsaw School of Economics and its students. CEMS Club Warsaw was voted the best CEMS Club in the world in 2010. CEMS Club Warsaw consists of the students and alumni of the CEMS MIM program as well as of all the students who are willing to pursue the program in the future. CEMS Club Warsaw supports the integrationof academic and business worlds and it helps numerous corporations to pre-pare and run various promotional events at the Warsaw School of Economics.

WSE STUDENT’S UNION

TheThe Students’ Union of the Warsaw School of Economics is the largest student organization at the Warsaw School of Economics. It engages over 150 stu-dents from various majors and years of studies into projects every year. The Student’s Union organizes several dozen of projects which are co-financed from external sources annualy. Among the most renown projects are: Inspiring Solutions, Chinese -Polish Partnership for Development (currently Chinese- Eu-ropean Partnership for Development), Summer University Warsaw, Warsaw “Juwenalia” Concerts, Rookie Camp “Wetlina”, Student’s Calendar and Guide-Book, “Otrzesiny” Concert, Back2School and others. The Student’s Union is also responsible for maintaining relationships with academic authorities and cultural institutions.

PARTNERS CAMPUS EAFIT

Partners Campus EAFIT is a student organization that fosters social develope-ment projects through international cooperation. Our mission is to connect, serve and change lives, and we are part of an international network called Part-ners of the Americas. As a student organization we have 4 main lines of work: voluntiring, leadership training, internacionalization, and research.

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KPMG firm was established in 1870 and since then it has become one of the largest professional services companies in the world and one of the Big Four auditors.

Now it has its global headquarters located in Amstelveen, Netherlands and employs 45,000 people within three lines of services: audit, tax, and advisory. Its advisory services are further divided into three service groups – Management Consulting, Risk Consulting, and Transactions & Restructuring.

Each national KPMG firm is an independent legal entity and is a member of KPMG International Each national KPMG firm is an independent legal entity and is a member of KPMG International Cooperative, a Swiss entity registered in Switzerland. KPMG International changed its legal structure from a Swiss Verein to a co-operative in 2003.KPMG International is led by:• Michael Andrew, Chairman, KPMG International• Alan Buckle, Deputy chairman, KPMG International• Rolf Nonnenmacher, Chairman, Europe, Middle East, Africa and India Region•• John Veihmeyer, Chairman, Americas Region• Hideyo Uchiyama, Chairman, Asia Pacific Region

In 2011 No.2 among the World's Best Outsourcing Advisors as recognition of the firm's depth of experience, global reach and holistic approach.


Jerónimo Martins SGPS, SA (JM) is a Portugal-based company founded in 1792. The company operates in Portugal, Poland, and, more recently, in Colombia in the ares: food distribution and consumer products manufacturing. Jerónimo Martins began its manufacturing operations in the late 1930s and early 1940s, the first milestone being the opening of the Fima factory (Fábrica Imperial de Margarina, Lda) in 1944, dedicated to the production of margarines and cooking oils.ItsIts business portfolio also includes an area that covers marketing, representation and restaurant services.

Jerónimo Martins also owns the Biedronka supermarket chain in Poland and has industrial facilities in Portugal focused on the production of several Unilever brands, which is carried out through the joint venture company Unilever Jerónimo Martins.

In addition to the largest supermarket chain in Poland, the Group holds the pharmacy chain Apteka Na Zdrowie and a network of drugstores under the label Hebe.

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Penta Investments is a Central European investment group founded in 1994 in Slovakia.

It pursues business in the private equity and real estate sectors. It is one of the biggest investment group operating in Central European region, the largest portion of the value of its investments being in the Czech Republic, Slovakia and Poland. PentaPenta invests mainly into the energy sector, retail, health care services, mechanical engineering and aircraft production.

It itself employs 200 people but as many as around 25 000 through companies in its portfolio. 2011 Penta achieved a consolidated net profit of EUR 127 mil.

CurrentlyCurrently one of the most significant investment in Penta portfolio is EM&F Group. The company is listed on the Warsaw Stock Exchange and is a leading distributor of media and entertainment products, clothing, shoes, toys and accessories for children, cosmetics as well as language courses. The Group consists of operating and commercial companies and NFI Empik Media & Fashion S.A. as the holding company. EM&F business model is based on four segments: the Empik Group, the Smyk Group, Language Schools and Fashion and Beauty. The Group develops its business model based on own brands and trading concepts, as well as franchised and licensed brands. The EM&F GroupGroup companies have been successfully building their strong market position for years, have an extensive retail network and a large, stable customer base. EM&F operates in Poland, Russia, Ukraine, the Czech Republic, Slovakia, Germany, Romania and Turkey.


BZWBK is a Polish universal bank formed in 2001 by the merger of Bank Zachodni S.A. and Wielkopolski Bank Kredytowy SA.. It is now seated in Wrocław, Poznań and Warsaw. It is the third largest bank in Poland in terms of assets value and the number of outlets.

Bank Zachodni WBK Group encompasses companies whose core business is brokerage, asset management, investment fund management, leasing, factoring, bancassurance insurance services and private banking

Since 2011, the Bank has been owned by the Spanish Santander Group.Since 2011, the Bank has been owned by the Spanish Santander Group.

On 4 January 2013, Bank Zachodni WBK merged with Kredyt Bank, which led to establishing the third largest bank in Poland by market share. Stronger Bank Zachodni WBK has a network of ca. 1000 branches and provides services to 3.5m customers

Currently, there are 625 BZ WBK branches in Poland. The own branch network is complemented by franchisee partner outlets managed by individuals who cooperate with the bank based on agency agreements and offer select products and services of BZ WBK.

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Grupa LOTOS is an oil company founded in 2003, based in Gdansk, Poland. It is listed in the Polish index WIG 20 with its main activity branches: crude oil production, refining and marketing of oil products.

Grupa Lotos is a producer of unleaded gasoline, diesel, fuel oils, aviation fuels, motor and industrial lubricants, bitumens and waxes. The company is a leader in lubricants on the Polish market.

GrupaGrupa Lotos is a holding composed of Grupa Lotos S.A. - the parent undertaking which manages the refinery in Gdansk - and 18 direct subsidiaries, including Lotos Czechowice, Lotos Jaslo and crude oil exploration and production company Petrobaltic.

LOTOSLOTOS Petrobaltic (formerly Oil and Gas Exploration and Production Company 'Petrobaltic') is responsible for fulfilling the aims of the LOTOS Group within the exploration and extraction of oil and natural gas. LOTOS Petrobaltic is the only Polish firm involved in the exploration and extraction of oil in the Baltic Sea. It has been related to Grupa LOTOS since 2005, when Grupa LOTOS became its majority shareholder. TheThe operating segment of the LOTOS Group focuses on refining and marketing high quality products, while optimising the use of the production capacities and minimising the unfavourable impact on the natural environment.

TheThe commercial activity of the LOTOS Group is carried out both in the parent company and in the subsidiaries.The main aims within the market activities result from the long-term strategy of Grupa LOTOS in this area. The important factors that determine the commercial segment of the LOTOS Group include the regular analysis of changes that take place on the market, care for the comprehensive and constantly extended range of products of top quality as well as continuous improvement of trading processes.


PartnersMarek Piecyk

OfficerMarek Margielewski

ProgramIgor Pielas

PR & MarketingJakub Dabrowski

OfficerIzabela Hawrylko

LogisticsKatarzyna Pietrasik

OfficerDamian Iwanowski

OfficerEwa Narbutt

PartnersJan Kowalski

PR & MarketingSzymon Mlodzianowski

OfficerKatarzyna Blocka

EMBC Vice - ChairmanOscar Liszewski

EMBC ChairmanMarek Franiak

EMBS ChairmanWeronika Czarnecka

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Partners

Strategic Partner

Harvard Project for Asian and International Relations

Honorary Patronages

Media Patronages


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EMBCEMERGING MARKETS BUSINESS CONFERENCE

Documents

Emerging Markets Business Conference - Guide