The discussion highlights the parallels between the evolution of ETFs and the current development of the crypto space, emphasizing the shared journey towards greater market transparency, resilience, and accessibility, and the crucial role of regulation in fostering investor confidence and innovation.
Mind Map
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คลิกเพื่อสำรวจ Mind Map แบบอินเตอร์แอคทีฟฉบับเต็ม
hello Samara thank you so much for
joining us very lucky to have Samara
today um why don't you tell us a little
bit about your journey in finance and
your role as CIO of ETF and index
investing at Black Rock sure and uh
thank you so much for having me it's
great to be here and to see a lot of you
who I know um I will say given my 30ish
uh year career in markets and finance
I'm not I'm still trying to digest the
fact that all 30 years has been 1.0 and
we're only now entering
2.0 um but uh but I'll I'll sit with
that for a little bit um I really think
of the uh the kind of through line
throughout my career as having a huge
passion for modernizing markets and
making them more EX accessible so when I
uh was at University I was a dual major
in financial engineering but also in
theater all of my work experience was in
theater not onstage but like backstage
sort of stuff but I had no idea when I
started working really the difference
between different Financial firms but I
knew I wanted to see what my financial
engineering major could do in the real
world and I was really attracted at that
time to the Black Rock story which was
at that time a very small I I was
employee number one 134 so this was a
small fixed income portfolio management
firm created by a bunch of saleside
structurers and Engineers that wanted to
make the bond market and risk management
in the bond market accessible to more
people and I liked that story and so I
went to work there um I actually was
gone from Black Rock for about 18 years
because I went to business school and
then I went to Goldman Sachs and spent
that part of my career uh in the
derivatives market and and kind of the
the last turning point I would say that
that brings me here was the global
financial crisis in 2008 so I was
sitting in the kind of Heart of uh the
the derivatives market and specifically
in the postcrisis
response um the uh uh um interest rate
Market which was where I had spent most
of my career really felt a lot of the
the kind of post crisis reforms that
were unfolding in the markets and as
much as you know as a career at that
point derivatives professional I had and
still do have total conviction that
derivatives were not the root cause of
the financial crisis I also had
conviction that the OTC markets could be
made much more transparent resilient and
accessible and I wanted the next part of
my career to be doing that that led me
to doing a lot of Market structure
strategy work at Goldman and then
rejoining Black Rock for these things
they told told me were called ETFs but
when Black Rock reached out to me like I
had to Google what an ETF was CU in 2014
in the bond market like nobody knew what
an ETF was and that tells you the the
kind of trajectory of bond ETFs and ETFs
in general that now you can't have a
credible conversation in the bond market
without knowing what an ETF is and I
think there's probably a a number of
analogues here to to the story of crypto
but really I became convinced over the
course of conversation with black rock
that exchange traded products were
actually a disruptive technology that
was going to bring more access um and
and transparency to markets and so I
came to Black Rock and and you know uh
uh came into the seat that I that I am
now which is Chief investment officer of
ETFs wow thank you yeah certainly a lot
of parallels between what you've
experienced and what we're seeing now in
crypto um if you think about crypto and
traditional Finance you know what do you
think each industry does well and what
do you think they have to learn from
each other so I H knew you were going to
ask me this question and I have to say
I'm pretty sure you answered it as well
or better than I will in your keynote
because this is kind of exactly what you
talked about so I'm glad I had the
opportunity to to listen to it but I'll
make a couple of additional um comments
I think the Arc of Mo you know Market modernization
