Takeaways from the 13 April seminar at the VMO Group
On 13 April 2023, the VMO Group, a software development company, hosted ‘The World Economy, SVB and Credit Suisse’. A presentation where Mauro Tortone, Director and Advisor at P27, shared his views on the state of the world economy and the developing banking crisis at VMO head office in Hanoi, Vietnam. Hung Mai, Sales Manager at the VMO Group, chaired the event. Around seventy people from VMO attended the event (some in person, some online). Here are some of the takeaways.
- The world economy is adjusting to the post-Covid, deglobalising, climate-challenged world
- Covid kicked off global inflation, and the Ukraine-Russia crisis accelerated it
- Both Covid and Ukraine also accelerated deglobalisation (regionalisation)
- They also made it more difficult to deal with global challenges such as climate change
- The central banks’ response to inflation (raising interest rates) triggered bank failures
- The SVB, Credit Suisse and other bank failures may lead to a credit crisis, but not like in ’07-08
- A more selective approach to opportunities can still uncover great opportunities
About the speakers
Hung Mai joined the VMO Group in Hanoi as Sales Manager in June 2022 and looks after American business clients, among others. He is the former CEO of NccSoft, a network of connected, young and passionate software engineers, and has more than 10 years of software development experience. Hung also worked for KiteSoft and the Harvey Nash Group.
Mauro advises organisations in finance, technology and mobility and leads the Strategy & Finance Practice of P27. His expertise is in strategic change, financial markets and more. Mauro has over 25 years of experience working on projects for banks such as UBS and Deutsche Bank, smaller financials, fintechs and others across Europe, the US and Asia.
For more, please download The World Economy, SVB and Credit Suisse slides.
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