CEOs at this year’s World Economic Forum Annual Meeting, voted conclusively this morning that new stakeholders, including sovereign wealth funds, hedge funds and private equity funds, have become the new power brokers.
Delegates also agreed that central bankers have lost focus and control of economic governance.
81% of delegates in the studio audience voted with Ibrahim Dabdoub, CEO of the National Bank of Kuwait, for the motion: New stakeholders such as sovereign wealth, hedge and private equity funds, have become the new power brokers.
19% of voters disagreed with the motion, which was put forward by Angel Gurria, secretary-general of the Organisation for Economic Co-operation and Development.
59% of the delegates also agreed that Central bankers have lost their focus and control with respect to economic governance, as put forward by Joseph Stiglitz. 41% disagreed with the motion, which was put forward by Secretary John Snow, chairman of Cerberus Capital Management.
We need a new sheriff to police global financial markets-75% disagreed with this motion, which was led by Nandan Nilekani, executive co-chairman of Infosys Technologies. 25% agreed with George Soros, chairman of Soros Fund Management, who was for this motion.
The CNBC debate, which was moderated by CNBC’s Maria Bartiromo and entitled ‘Who’s In Charge?’, challenged a panel of experts on whether the current global financial architecture is succeeding or failing to address the systemic financial risks facing the world today.