12th Nova Conference, November 12 2011
The 12th Nova Conference "Italian Citizenship, European Pass Passport, Global Competition" took place over the week end in New York and saw the participation of over 150 Italian MBA students and alumni from Americas's top schools.
On Saturday in the beautiful setting of Kimmel Center at NYU, Roberto Crapelli – CEO of RBSC Italy - took part in a panel discussion on the Debt Crisis and Sovereign Risk Contagion with Prof Edward Altman Director of Research in Credit and Debt Markets at New York University and Paolo Basilico Founder and CEO of Kairos Capital
Professor Altman presented the results of his groundbreaking research on the link between the health of the private sector and the risk of default of the public sector, and highlighted how probability of default of Italian corporation has significantly increased in the past few months. While the risk of default of the Italian State is at its historic peak, Professor Altman expressed moderate optimism on the possibility for Italy to embark on a season of structural reforms. Roberto Crapelli reminded the audience of the structural difficulties of Italian Corporations in the mids of the crisis. They are smaller than their German and French competitors and more reliant on B2B markets. He then explored the interconections between the health of national champions in strategic sectors and that of SMEs, in Italy, France and Germany. Paolo Basilico stressed how politics were once again at the center of the stage in financial markets and suggested that businesspersons and investors could no longer simply ignore politics and political contextand encouraging the young participants to become more aware of the political context
Edoardo Demarchi Partner and responsible for recruiting then lead an interactive presentation of RBSC identifying the key traits of the RBSC consultants for the future: willingness to challenge the status quo, ability to integrate top notch strategy and operations skills with corporate finance, strong international orientation, natural ability to syndicate the needs of increasingly complex webs of stakeholders (including corporations, banks, public sector and the general public)