Day 5 at 6:30AM and the team was bright and ready for our three breakfast presentations for the AFM 415 International Study Trip: Deutsche Bank, Moody's and PwC.
We took the subway to our first destination, Deutsche bank. Though we were all a little intimidated at first, we were greeted with warm smiles from Kevin and Marc. They shared their insights on how the changing labour, political and economic landscapes of Germany interact with one another. The biggest takeaway from the meeting was Kevin's comments on the weakening framework of the EU due to Brexit, and China's increasing power due to their advancement in technology and relaxed regulations. This only further emphasized the importance of the EU to maintain their relationships with countries both in and out of the EU. After an extremely informative meeting, we then were taken to the 37th floor of the Deutche Bank's twin towers to view the scenic Frankfurt's skyline.
Our next stop was Moody's. When arriving, we were greeted by a room full of excited professionals, to which each took turns explaining Moody's offerings and how bond ratings performed in various service lines. My favorite part was during the corporate finance group's presentation by team manager Karoline Metzger. We had the opportunity to do a case study where were able to apply the rating methodologies we learned in a real life situation, making for an excellent learning experience.
We then made our way to PwC, where we had the privilege of talking to the Chairman of PwC SE, Harold Kayser. Mr. Kayser primarily focused on how PwC is digitizing its practices and leveraging analytics, AI, and data to enhance its practices. "Data is the new AI of the future," he said, and he supported this by walking us through the CEO survey, PwC's "Your Tomorrow" program. He showed us various services and industries, such as audit and the automotive industry, to explain how innovation is being applied to these sectors globally.
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We then headed towards the Frankfurt Central Station for the last time and got on the 5:45PM train to Munich, excited for the next day ahead.