, first, mckinsey's social initiative is an ngo, not directly part of mckinsey so i may not have all of the information about it but i think you're talking about this investment group that is also somewhat a separate part from mckinsey itself. i think the article that came out in the "financial times" didn't have all of the facts and i think made more of a link than is actually there but i honestly can't answer all of the information. i would be happy to provide you with names if you want to get more information about some of it, i think they feel very comfortable that is business is being transacted in a fair, transparent way sand not abusing developing country money in any way. so -- and just also on your question. i agree that we should be thinking about putting ourselves out of business. when i was at care we had the opportunity to see several countries that graduated, if you will, and became self-sufficient and that should be our job. i also think more and more companies that we worked with, particularly multinational companies, global companies that we're seeing that their futu

mckinsey says the region's face a powerful storm.r at mckinsey joins us now to tell us more. about this. what is going on? what is this triple whammy? sector had ag golden decade of wonderful profit growth that accounted for nearly 50% of global profits over the last decade. as we look forward, there are three big factors that might in end the party.-- an were seeing the global macro slowdown in asia, a reduction in boy from banks in terms of growth, so that is one. second, the obvious, which is financial attack from technology players, but more importantly, also from the non-brinks -- nonbanks, which will exhort -- exert pressure on margins. third, the weakening balance sheets, and particular he we have seen over the last 3-4 ofrs nearly $400 billion nonperforming loans cropping up in the balance sheets of banks across asia, so to put that in perspective, between 2007 and 2011, nonperforming loans grew by close to 7%, and corporate balance sheets are also stressed. growthbination of slower , tougher margins, and rising nonperforming

rishaad: stephen engle talking to the director of the mckinsey global institute.bs is telling clients to stay liquid, warning of deeper losses in u.s. credit on the .eels of the, brexit morgan stanley recommending patients, saying the bonds are not cheap enough to warrant risk that market volatility isn't temporary. similar advice, saying the british boat has increased the likelihood of a recession in the u.s. to 34%. let's tell you what we have coming up. it is all on the line, or all online. appfavorite messaging at -- should announce the ipo price. what could be the biggest tech opening of the year. plus, the opening numbers next. ♪ get ready for the rio olympic games by switching to xfinity x1. show me gymnastics. x1 lets you search by sport, watch nbc's highlights and catch every live event on your tv with nbc sports live extra. i'm getting ready. are you? x1 will change the way you experience nbcuniversal's coverage of the rio olympic games. call or go online today to switch to x1. you guy's be good[ bark ] i'll [ bark ]later bye. see ya pal. ever wonder wha

that , and comes to mckinsey following a successful tenure as ceo of care. before that, leadership positions at the cdc, the bill and melinda gates foundation, and service on a broad array of boards and commissions. finally, craig stefansson, who has the challenging task of representing the bank in washington. of the united states and canada, but from where i sit, with a lot on his plate in the engagement with the u.s. government. , and wearly at a time will talk more about this, a change, of a shifting landscape, of new actors. and craig is really central in the u.s. engagement on all that. prior to that position, really an impressive career at the bank, including leading engagements in areas as challenging as afghanistan and recently, myanmar. really an interesting case. those are our impressive speakers, not only in their own backgrounds, but in the diversity they represent in this development enterprise. i hope we can explore more of that. let me just try to lay out what i see as big issues in the development landscape and hope to get your reactions as a

host: there is a story about katie mckinsey about her college career. can you explain that as well? guest: sure. republicans are going after her on how she has characterized her college career. she is one of 10 children depending on the event and situation, republicans have evidence that she said she was the first in her family to attend college. they are bringing that now. she said we meet with candidates all the time. we met with her on january 26 this year before the primary. i looked back at my notes to see what she told us, and she told us that she was the first in her family to attend a four-year college, which is a distinction the campaign is not trying to make. what you told us in our private largely off the record meeting this similar to what we are seeing quickly, but there is enough evidence out there for republicans to make hay that she was not as clear in that. that her iould add is on the record. it is always on the record. guest: we have the notes to tell us to go back and look. will this make a difference in the race? probably not, but it is i think a that's katie mc

we've seen mckinsey reports that show that companies that have diversity around gender and race have35% better likelihood of better financial performance than average and brings out better ideas. if you have a better connection to your end users, if you reflect the composition of our end users then you can avoid the mistakes that other companies have made where they don't think of potential problems that make things more difficult for women and things more difficult for underrepresented groups. fernando: how much of challenge is the pipeline of talent? we know unfortunately there is an unbalanced men-women ratio in many tech focused universities. is that an issue for you and something that you need to tackle as well? sort of the whole eco system? >> certainly the pipeline is a problem, and it would be naive to say that the pipeline doesn't need to be addressed, but it is not the only problem. and it's not a problem that's going to be solved as quickly. we need put attention to it, but it is a longer term investment for us to fix that. a lot of the things we focus on with project incl

host: there is a story about katie mckinsey about her college career. can you explain that as well? guest: sure. republicans are going after her on how she has characterized her college career. she is one of 10 children depending on the event and situation, republicans have evidence that she said she was the first in her family to attend college. they are bringing that now. she said we meet with candidates all the time. we met with her on january 26 this year before the primary. i looked back at my notes to see what she told us, and she told us that she was the first in her family to attend a four-year college, which is a distinction the campaign is not trying to make. what you told us in our private largely off the record meeting this similar to what we are seeing quickly, but there is enough evidence out there for republicans to make hay that she was not as clear in that. that her iould add is on the record. it is always on the record. guest: we have the notes to tell us to go back and look. will this make a difference in the race? probably not, but it is i think a that's katie mc

all three of the former studies and the brookings institute and the mckinsey study came back with theame conclusion about the city of chicago, and we have an economic plan focusing on talent, transportation, and technology, and by investing in those three things, continuing to invest in those three things, continuing to keep chicago at the competitive edge it has as it competes around the globe. in the first three studies, what's also interesting for the city, although we were in the top 10 ranking, we were the only city in the top 10 ranking that was not the respective country's financial or political capital. new york was on the list, berlin, tokyo, and all of them are either political or financial capitals of their countries. chicago is, thank god, not the political or financial capital, but we are the heartland of the united states. i think chicago is the most american of american cities. so the conference were having today, and i have had meetings with colleagues from around the globe, we all face the same challenges, how to find the resources to invest in the future and make sur

mckinsey areth producing a strategic paperwork on the attractiveness of the u.k.l versus -- financial services sector. we will offer clear recommendations about how we should set about the task of reinforcing the u.k.'s competitive advantage. this naturally includes focusing on preserving our position, particularly london's role as the times financial center. government, regulators, and business are all in this together. we need a way to develop our common interests. achieving this, i had the fortune to live recently in asia and australia. we could learn a great deal from the investment and enthusiasm they are developing. inevitably, the u.k. will need to think more globally and look into the wider world. new to us. the u.k. has always been a trading nation with strong historical links to the andicas, the commonwealth, the emerging markets. at the same time, we need to ink about europe. -- to think about europe. a strong u.k. strengthens the world and advances europe. a strong europe and international environment strengthens us. at its foundation is an economic an

are real movers and shakers at the world of sustainability are happy to have helene gayle, ceo of mckinsey social initiative. eric postel from usaid and craig stevenson from the asian development thing. the segment will be moderated by scott morris who has been a committee member since he left his days at treasury and is now a senior fellow at the center for global development. he's also director of their rethinking used the taliban policy initiative i that space o broaden u.s. government approach to development. antiworker issues related to the isi and particularly the relationship between the isi and the united states. with that, scott, i believe it to you. >> thank you, randy. let me start with format. we are going to be having a conversation here, not formal remarks from the podium. i want to briefly introduce what is an excellent panel and really pleased and looking forward to having their insights on the broad topic of global development. i'm going to try my best to do a few minutes of framing of the issues before i turn to them for some questions, and then turn to you all for some q

but i think you're talking about this investment group that is also somewhat a separate part from mckinsey itself. i think the article that came out in the financial times didn't have all the facts and i think made more of a link that is actually there but i honestly can't answer all the information, i'd be happy to provide you with the names if you want to get more information about some of them area feel very comfortable that the business is being transacted in a fair transparent way that is not abusing developing country money in any way so and also, on your question, i agree i think that you should be thinking about putting ourselves out of business and when i was a kid we had the opportunity to see several countries that graduated if you will and became self-sufficient and that really should be our job. i also think more and more companies that we worked with , particularly multinational companies, global companies that we are seeing that their future revenues were going to come from emerging markets really started thinking in very different ways about their responsibilities to the co

up next, roger calling in from mckinsey, alabama. can you tell us why you oppose the death penalty? oppose it, but i think it ought to be up to the state that does it. it -- youe don't get get out of life what you put into it. i remember the brothers that shot and killed their parents and started spending the money and were convicted and then somehow got another trial in turn it around to where the father had touched them naked, so they got it down to second-degree. if you had been a poor man, that would have never happened. host: what if there were more funding for criminal defenders that would help level the representation of people? you can say that, but it never happens. you are not going to be able to a public defender and give them $5 million like the crazy guy in new york who inherited all that property money. they can kill people all over the country and get away with it. the states get to decide for themselves. they've never proven that one innocent person has been killed. you cannot trust people. the police, prosecutors and attorneys -- i would not trust either group of th