The global financial system has emerged from an initial period of extreme stress inflicted by the COVID-19 pandemic. The ability of the system to effectively respond to the crisis was enabled in large part by governments’ efforts to stimulate the economy, central banks’ speed at addressing market disruptions, and the resilience of financial institutions. Unlike the global financial crisis 10 years ago, this time around, financial institutions were part of the solution and not the problem. The Global Future Council on Responsive Financial Systems will explore how the financial system can most effectively facilitate the post-COVID rebuild and what potential risks stakeholders need to navigate to avoid threats to financial stability and, ultimately, the economic recovery.

Co-chairs

Alice Law Shing-Mui, Deputy Chairman and Managing Director, Hong Kong Mandatory Provident Fund Schemes Authority, Hong Kong SAR, China

Huw van Steenis, Senior Advisor to the CEO, UBS AG, Switzerland

Council Managers

Kai Keller, Initiative Lead, The Future of Financial Services in China, World Economic Forum Beijing Representative Office