International Monetary Conference

Established as an international arm of the American Bankers Association in the early 1950s to act as host for a conference of the principal officials of the large American and foreign banks. Its spiritual director was Herbert V. Prochnow, Chicago's banking legend. For decades the chief executives of the world's hundred largest banks from the private sector could use the IMC to get acquainted, exchange views with their peers, and listen to central bank governors and other financial officials.

This year's IMC meeting at the Hotel Adlon in Berlin--under the presidency of Jacob Wallenberg, chairman of the board of Sweden's SEB--says a lot about the dramatic changes and upheavals in the world of global banking. To use the time of the top executives in global banking most efficiently, the IMC was followed, on June 4-5, by the spring meeting of the IMC's sister organization, the Institute of International Finance (IIF), at the same location.^[1]

Notes

^ Bankerspeak: behind-the-scenes chatter at the recent International Monetary Conference - Letter From Berlin The International Economy, Summer, 2003 by Klaus C. Engelen