Washington, D.C., October 28, 2015 – Dr. Lawrence H. Summers, who served as the 71st Treasury Secretary under President Clinton, director of the White House National Economic Council under President Obama, chief economist at the World Bank, and president of Harvard University, will headline RICS’ fourth Summit of the Americas, “DC2016,” in Washington, D.C. next April 3-5. Dr. Summers, who is considered among the United States’ leading economists, is currently the Charles W. Eliot University Professor and President Emeritus at Harvard.
Dr. Summers was the only Treasury Secretary in the past half-century to leave office with a budget surplus, and his tenure at the department coincided with the longest period of sustained economic growth in U.S. history. In addition, he has played a role in addressing every major financial crisis in last two decades.
During next year’s RICS’ Summit of the Americas, taking place April 3 to 5, 2016, Summers will deliver a keynote speech on the economy in which he will address the economic cycle and provide his insights into what we can expect in the global market over the next three years, as well as the movement of capital across asset classes. He will also moderate a panel with a number of renowned industry leaders that will address how to understand the underlying mechanisms of asset pricing; identify and detect emerging bubbles; and assess the impact of highly volatile markets with boom-and-bust cycles.
President Clinton said that Dr. Summers “has the rare ability to see the world that is taking shape and the skill to help to bring it into being.” In this context, it will be most fitting that he’s headlining the Summit of the Americas, whose purpose is to bring industry leaders together to discuss where the industry is headed and how to find creative and effective ways to respond to key current and future challenges. The aim is for these leading international property and construction professionals to come away with best practices and insights that will shape the agenda for the year ahead, as well new business opportunities uncovered at the Summit.
The RICS Summit of the Americas is the premiere annual international conference for leaders in the built environment whose expertise spans the full real estate life cycle, and Dr. Summers’ presence will be an important addition.
President Obama has said, “I will always be grateful that at a time of great peril for our country, a man of Larry’s brilliance, experience and judgment was willing to answer the call and lead our economic team.” In this sense, Summers’ leadership in crafting the U.S. response to international financial crises around the world, such as those in Mexico, Brazil, Russia, Japan, and Asian emerging markets, will be relevant to the majority of Summit attendees who work transnationally. Many RICS members lead in emerging markets by addressing infrastructure and development needs through major private and public-sector projects, as well as international real estate investment and valuation work.
Neil Shah, managing director for RICS in the Americas, said, “We are delighted and honored that Dr. Lawrence H. Summers will headline next year’s Summit of the Americas. His vast knowledge, experience and record of successfully tackling tough issues, especially in the economic sphere, will cap a roster of world-class speakers and help elevate the discourse throughout the conference.”
Larry Summer’s five years as president of Harvard represented a time of major innovation for the university. RICS aims to be at the forefront of what’s taking place in the industry and always one step ahead through innovative thinking, collaboration and research, such as with the recent “RICS Futures” initiative that explores key drivers affecting the industry, which was launched at last year’s Summit of the Americas, LA2015. Summers’ record as an innovator at Harvard will be a helpful frame for RICS’ members and their mission to perform to the highest global professional and ethical standards, and serve in the public interest.
For more information on the Summit, please visit RICS Summit of the Americas: DC2016.