World leaders head to Davos as uncertainty darkens the global outlook

A demonstrator holds a 'Stop The Shutdown' sign during a rally with union members and federal employees to end the partial government shutdown outside the White House in Washington, D.C.

Andrew Harrer | Bloomberg | Getty Images
A demonstrator holds a ‘Stop The Shutdown’ sign during a rally with union members and federal employees to end the partial government shutdown outside the White House in Washington, D.C.

As a legion of heads of state and business leaders head to Davos for the annual World Economic Forum (WEF) next week, world affairs are as unpredictable and unstable as ever.

In the 12 months since the last forum, global trade relations and diplomacy as well as domestic politics have been fractious, to say the least.

Since President Donald Trump first announced tariffs on a selection of Chinese imports last January, the U.S. and China have gone on to impose tariffs of $250 billion and $110 billion on each other’s goods, respectively. Washington is currently witnessing its longest ever shutdown because of an impasse over funding for a border wall and Brexit remains as chaotic and unclear as ever just weeks before the U.K.’s departure from the EU.

The forum released a “Global Risks” report Wednesday in which it noted that “global risks are intensifying but the collective will to tackle them appears to be lacking.”

In continental Europe over the last year, we’ve seen a populist government take charge in one of Europe’s major economies, Italy, and a demise of mainstream politicians that could lead to a power vacuum — and moral crisis — in the region.

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German Chancellor Angela Merkel announced in October that she is to retire from politics and her party continues to cede voters to the left and right, meanwhile an increasingly unpopular French President Emmanuel Macron is dealing with ongoing and often violent protests on the streets of Paris.

John Drzik, president of Global Risk and Digital at risk management firm Marsh, told CNBC that cybercrime, critical infrastructure and environmental threats, as well as changes in geopolitics, are among the biggest risks facing the world right now.

“The rise of nationalist agendas around the world is creating friction among states as well as weakening multilateral institutions,” he told CNBC’s Joumanna Bercetche.

“It’s not just in the U.S., here in the U.K. you have Brexit, but in Brazil, Italy, Austria and Hungary there are lots of populist political figures who are getting elected and changing the agenda to be more protectionist and more nationalist and, as a result, weakening the multilateral bonds that were there and that’s expected to continue into 2019.”

The global economy is not looking too great either as trade concerns continue to concern business and rattle financial markets.

The International Monetary Fund (IMF) cited trade tensions when it downgraded its global growth forecast for 2019 last October. The IMF expects global growth of 3.7 percent in 2019, down 0.2 percentage points from an earlier forecast in its World Economic Outlook report.

The World Bank, meanwhile, sees global growth at 2.9 percent in 2019 amid tightening financial conditions. The European Commission is also downbeat about the region’s growth, forecasting a lackluster 2 percent growth in the EU in 2019.

Globalization 4.0

Against this backdrop, there’s plenty to talk about at this year’s Davos then when the heads and officials of over 100 governments meet, as well as top executives from over 1,000 global companies. Designed to foster private and public cooperation, the forum’s main objective is “to improve the state of the world.” This year’s theme is focused on “Globalization 4.0.”

WEF’s founder Klaus Schwab said in November that the world is experiencing “an economic and political upheaval that will not cease any time soon” adding in a WEF editorial that “the forces of the Fourth Industrial Revolution have ushered in a new economy and a new form of globalization.”

Schwab said that a slow and uneven recovery since the global financial crisis meant “a substantial part of society has become disaffected and embittered, not only with politics and politicians, but also with globalization and the entire economic system it underpins.”

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He said populist discourse had confused globalization, which has been seen to have negative connotations in some populist narratives, with globalism.

“Globalization is a phenomenon driven by technology and the movement of ideas, people, and goods. Globalism is an ideology that prioritizes the neoliberal global order over national interests. Nobody can deny that we are living in a globalized world. But whether all of our policies should be ‘globalist’ is highly debatable.”

Put simply, Schwab said the challenge for global leaders is “to restore sovereignty in a world that requires cooperation.” He advised that rather than closing off economies through protectionism and nationalist
politics, a new social compact is needed between citizens and their leaders, so that everyone feels secure enough at home to remain open to the world at large.”

“Failing that, the ongoing disintegration of our social fabric could ultimately lead to the collapse of democracy,” he said.

[“source=cnbc”]

Research Industry Leaders Eileen Campbell, Andrew Reid and Jennifer Reid Launch Reid Campbell Group and Announce First Two Holdings — Rival Technologies and Reach3 Insights

Image result for Research Industry Leaders Eileen Campbell, Andrew Reid and Jennifer Reid Launch Reid Campbell Group and Announce First Two Holdings -- Rival Technologies and Reach3 Insights

CHICAGO, June 19, 2018 (GLOBE NEWSWIRE) — Eileen Campbell (former Global CEO of Millward Brown) and siblings Jennifer and Andrew Reid (Founder of Vision Critical) have partnered to create Reid Campbell Group, a new holding company that serves as a launch pad for innovation in consumer insights. The newly formed group also announces the launch of their first two companies; insight technology innovator, Rival Technologies and full-service research agency, Reach3 Insights. Reid Campbell Group, Rival Technologies and Reach3 Insights are poised to lead the next wave of market research innovation for the world’s top brands.

Using conversational, mobile-first techniques that consumers use in their everyday lives, Reid Campbell Group companies are particularly focused on integrating the opinions of young and multicultural consumers whose voices often go unheard in traditional market research.

“Research and insights are so fundamental to business success, yet the function is often saddled with a stodgy reputation because we’ve been a bit slow to evolve,” states Founding Partner & Executive Chair of Reid Campbell Group Eileen Campbell. “We need to reflect the rapidly changing communication methods consumers use today to deliver meaningful business results. We are determined to do just that.”

Reid Campbell Group’s first two companies set the tone for the changes to come. Rival Technologies, led by the Founder of Vision Critical and VC Labs, Andrew Reid, is North America’s first company to use conversational chat to gather valuable insights from our ‘Mobile First’ generation. Over time, this technology offers a more personal and consistent way to connect with customers than traditional “ask and answer” questionnaires.

“The more we can mirror human conversations in our contact with customers, the more likely it is that they will provide deep and honest insights,” comments Founding Partner of Reid Campbell Group & CEO of Rival Technologies Andrew Reid.

Reach3 Insights is led by one of North America’s top consumer market researchers, former Ipsos and Vision Critical executive Matt Kleinschmit. Kleinschmit is known for designing and implementing strategic insight platforms for some of the world’s most formidable brands. Accelerated by Rival’s modern technology, Reach3 works on behalf of brands to capture ongoing insights using conversational and other immersive experiences, intelligent analytics and game-changing, storytelling deliverables.

“At the dawn of the millennium, marketing research moved online. In the 2000’s it evolved into online communities & interactive tools. We believe that we are now entering the 3rd wave of modern marketing research, characterized by agile, organic and immersive conversational insights captured at scale through the mediums used by the digital generation,” explains Reach3 Insights Founder & CEO Matt Kleinschmit.

Both Rival Technologies and Reach3 Insights launch with an impressive list of early adopter customers, including Warner Brothers and the NFL. Rival Technologies will continue to enhance their technology and platform to meet expanding client needs, with a full slate of additional enhancements in development. Reach3 Insights will continue to scale to meet the needs of global clients who are seeking more immersive and engaging insights solutions to drive business success.

About Reid Campbell Group
A unique holding company driven to reinvent the staid consumer insights industry, Reid Campbell Group represents the partnership of global insights icons Eileen Campbell (former Global CEO of Millward Brown) and siblings Jennifer and Andrew Reid (Founder and Former President of Vision Critical). The cornerstones of Reid Campbell Group are two companies; Rival Technologies and Reach3 Insights.

Andrew Reid serves as the CEO of Rival Technologies, rethinking research with voice, video, and chat solutions optimized for the ‘Mobile First’ generation. Reach3 Insights, led by one of North America’s top consumer market researchers and former Ipsos and Vision Critical executive, Matt Kleinschmit, is an insights-based consulting agency that leverages Rival’s proprietary technology and designs intelligent research methods to deliver insights at the scale and pace of 21st-century brands. For more information visit: www.reidcampbellgroup.com, www.rivaltech.com or www.reach3insights.com

[“Source-globenewswire”]

Digitas names regional creative leaders

Matt Cullen & Gary Tranter

In case you missed it, Digitas reverted to its original name this week, keeping the unicorn but dropping the LBi after 5 years.

Kingsley Taylor, formerly MD of Organic San Francisco, also assumed the same role at the network’s Bay Area office.

Now the shop has promoted Mike Frease to EVP, ECD in Chicago, where he had been SVP, GCD. At the same time, Morgan Carroll’s role has evolved from managing director, ECD to MD and executive creative chair.

The two will lead the creative team in Chicago moving forward.

“Mike has partnered with our clients to create iconic and award-winning campaigns. The results have been extraordinary—our Gold Lions, Pencils, Effies, and Grands Prix are proof of that,” said Carroll, who got promoted in summer of 2016. “More importantly, the work has embodied our commitment to combine creativity, technology, and data in ways that no other agency can.”

Frease had formerly led the agency’s work for Whirlpool, including the Maytag, KitchenAid and Jenn-Air brands. He joined the agency in 2014 after holding top roles at other Chicago shops including Leo Burnett, JWT and FCB.

The client’s “Care Counts” campaign won 38 medals at Cannes last year, and it also scored Adweek’s top honors for creative innovation.

[“Source-campaignasia”]

Family Office Leaders are Eager for Insights

Family Office Leaders are Eager for Insights

ILLUSTRATION: GETTY IMAGES

Single-family offices serving the financial and wealth management interests of rich families have become a growing force in global markets as wealth has boomed.

In the last 10 years, the number of single-family offices managing wealth management, investing and philanthropic needs for families with at least $200 million has doubled to as many as 15,000, according to Citi Private Bank. Yet little is known about how many of these offices—managing several trillion dollars of assets—operate. Even executives who run single-family offices are often in the dark about what their peers do.

But unlike the past, these execs are not as worried about privacy and confidentiality—they want to reach out and learn from other family offices. They view their role as more as an emissary for the families they serve, rather than a “gatekeeper,” keeping other outside experts at bay, says Stephen Campbell, chairman of Citi Private Bank’s global family office group, and the former chief investment officer of a large Seattle-based family office.

One way the veil can be lifted is by getting family office executives together, which private banks and wealth managers that serve them as advisors and bankers, try to do. In fact, many single-family office practitioners, once happy to work alone, are now eager for insights they can gain from their peers and will seek out opportunities to network with the right people, Campbell says.

“We’ve seen a significant pick up in interest in (learning) what’s working, what’s not working and how they can learn from the mistakes of others,” he says.

A familiar adage in financial services is that, “if you’ve seen one family office, you’ve seen one family office,” meaning, no two are alike. But the truth is, the operations of most family offices are very much the same, he says. Most of them have to manage investment portfolios, estate planning and philanthropy, as well as paying bills and handling legal affairs.

“Where they differ is in areas of culture and values, and in the governance biases and practices of the family,” he says.

Campbell’s insights are well-founded: Citi works with 1,100 family offices, most of them serving a single family. Most also use Citi as their primary bank, he says.

How families communicate with the offices that run their wealth management needs is one area that can differ wildly. One of the families Citi works with, for example, established a family office in a separate jurisdiction from where they lived, a practice that can provide tax advantages. The office was set up nine years ago with a staff to run it, but as of today, no one in the family has ever been there, Campbell says.

At the other extreme, a principal member of another family that works with Citi goes into his family office every Thursday, sometimes with other family members, and they cook a meal together with the staff. “Oddly enough, those are both models that work,” he says.

Citi has found families are willing to share what’s worked for them on a range of topics if they can exchange ideas with families of a similar wealth level and degree of sophistication. Two years ago, the private bank began a “family office leadership program” in New York, which includes 125 family-office executives serving the world’s “most affluent families,” Campbell says. The event has now spread to programs in Hong Kong and Dubai, and elsewhere to accommodate demand.

Because it’s difficult to cover all the topics families want to discuss, Citi is now rolling out a series of articles and white papers on nitty-gritty topics, like, “why family offices are increasingly relying upon bespoke remuneration packages to attract top executive talent” and “how grooming tomorrow’s family leaders can help preserve family wealth and influence and prevent discord in the family.”

There are a lot of “how-to” manuals on how to set up and run a family office, Campbell says, but “the nuance is in how and when to apply these concepts, and that’s what we’re tackling with these articles.”

[“Source-barrons”]