Wolfensohn is well-known for an illustrious career, including close work with
Paul Volcker, the former chairman of the Federal Reserve, and a tenure as
President of the World Bank.
Wolfensohn is a sharp cookie, and began by talking about how the world must
look forward and how rapidly the world is changing. He reflected upon the fact
that we must escape our short-termism, and think longer-term. The Northern
Rock’s, Bear Stearns and UBS’s of this world will soon be forgotten and written
into history. China, India, Africa and America will always be here.
On this note, we need to think about the future of the world and the fact that, by 2050, there wlll be another three
billion people on the planet. That’s one extra human for every two around today,
or a 50% hike over today’s numbers in other words.