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Credit Suisse Supertrends webinar series 2020Millennials – Reshaping the Future

2/13

I don’t think Millennials are as scary as people think they are, and I don’t think they’re as radical. It’s not that they’re denying cultural institutions, it’s not that they’re unreasonable. We’re thinking about things differently, and it’s important to understand how we think about things. It’s an identity.

Michael Parrish DuDell, Entrepreneur and bestselling author of Shark Tank Jump Start Your Business and Shark Tank Secrets to Success

Credit Suisse Supertrends webinar series 2020 Millennials – Reshaping the Future

Please note that these individuals are not associated with/related to Credit Suisse and do not act for and on behalf of Credit Suisse. Please contact your Relationship Manager for further information.

Millennials – Reshaping the Future 3/13

The rising influence of the Millennial generation is one of the key trends impacting the way the world lives, works and plays. As this demographic ascends into its prime years, their attitudes and spending patterns have undoubtedly reshaped economy.

“Millennials have become a force to be reckoned with both politically and economically. They have a unique perspective on the challenges. They have come of age in an era of rapid technological change, and are often the first adopters of new technologies and forms of education delivery,” said Benjamin Cavalli, Chief Executive Officer, Singapore and Head of Private Banking, South Asia in Credit Suisse, in his opening remarks for the seventh edition of the Credit Suisse Supertrends webinar series held on August 5.

Mr. Cavalli asked: “Given Millennials expanding sphere of influence what are the sort of new growth areas that inves-tors should be looking at to benefit from this generational phenomenon?”

To explore this important topic, CNBC anchor Amanda Drury spoke with Michael Parrish DuDell, entrepreneur and best-selling author of ‘Shark Tank: Jump Start your Business’, to get his views on the Millennial experience and how to respond to it.

How to respond to the Millennial effect

The individuals mentioned above only conduct regulated activities in the jurisdiction(s) where they are properly licensed. Please note that these individuals are not associated with/related to Credit Suisse and do not act for and on behalf of Credit Suisse. Please contact your Relationship Manager for further information.

4/13

We truly are the first generation to ever have the privilege to be able to explore in the ways that we can now. Technology has enabled us in so many powerful ways to truly experience life differently than other generations.

Michael Parrish DuDell, Entrepreneur and bestselling author of Shark Tank Jump Start Your Business and Shark Tank Secrets to Success

Mr. Parrish DuDell believed that Millennials represent more than a youth generation, but rather a “cataclysmic change” in terms of how this group consumes, works and perceives traditional milestones such as employment and marriage. These radical notions threaten older generations, and in particular baby boomers, who perceive them as self-absorbed.

“Any change, whether it’s good or bad, is often seen as a threat. One negative perception is this idea that we’re narcissistic, that we are thinking primarily about who we are, and we’re not very good at thinking about the collective,” he said.

However, he noted that this perception is inaccurate. Rather than self-absorption, Millennials are actually focused on self-exploration.

The myth of narcissism

“So what happens is when people take advantage of that opportunity, when they delay traditional milestones, when they focus more on who they are, on what they find meaningful, they create their own sort of bespoke path. Other generations look at that and say ‘wow that’s narcissism’, but I don’t think that is narcissism.”



Another key aspect of understanding the Millennial generation is the importance of fulfillment to them. Mr. Parrish DuDell broke down the concept into three central themes: personal growth, tribal influence and social impact.

Personal growth is closely linked to trends around learning and development, and speaks to their need for personal development beyond formal education. Tribal influence and social impact,

The need for fulfilment

meanwhile, refer to how Millennials are striving to make their communities and the world better for everyone else.

“When you look at it through these lenses, a company doesn’t have to be perfect in every single aspect, but a company must consider this and they must think about how to create true experiences, both online and offline, that work together to bring about the central theme of fulfillment.”


6/13

Millennials have become a force to be reckoned with both politically and economically. They have a unique perspective on the challenges. They have come of age in an era of rapid technological change, and are often the first adopters of new technologies and forms of education delivery.

Benjamin Cavalli, Chief Executive Officer, Singapore and Head of Private Banking, South Asia, Credit Suisse

Millennials today are a powerful consumer base which businesses can no longer ignore. Mr. Par-rish DuDell argued that it is critical that compa-nies listen and respond to what Millennials have to say, but without sacrificing their authenticity.

“Companies have to understand that their job is not to emulate us, but to empower us. We are a generation that recognises we are empowered with choice, with opportunity, with incredible wealth,” he explained.

“So it’s a generation that you have to listen to. And you have to be able to implement some of these ideas in a way that feels truly authentic to who your brand is, and what you stand for. Because we are quite savvy, and the second you try to spin something, we will recognise it as inauthentic, and that’s the first way to get us to stop listening, and to stop engaging.”

How companies should respond



Mr. Parrish DuDell also spoke about how organizations can work towards reconciling differences between the generations. In particular, he recommended using a technique known as reverse mentoring, where Millennials and older workers can impart valuable knowledge to each other.

“It’s taking somebody who has more experience and taking somebody who’s a Millennial or even a Gen Z as they enter the workforce,

and matching them up. We want to pair you up and we want to create not experiences for traditional mentoring, but for actual reverse mentoring on both sides,” he said.

“Every study will show you the Millennials are hungry to learn, because they feel like the education they got in school is often not relevant in our fast paced world.”

Reconciling generational conflicts


8/13


Mr. Parrish DuDell believed that we are currently in the tail end of Millennials’ influence on the world, and what the experience of the “Millennial effect” has shown is that this powerful group is not as radical as people first think.

He said: “I think what’s happening now is sort of the peak. We’re probably going to experience it for a few more years. I don’t think Millennials are as scary as people think they are, and I don’t think they’re as radical. It’s not that they’re denying cultural institutions, it’s not that they’re unreasonable. We’re thinking about things differently, and it’s important to understand how we think about things. It’s an identity.”

Peak of Millennial effect

10/13

Benjamin Cavalli is a Managing Director, and was appointed to the role of Head of Private Banking South Asia in August 2018, based in Singapore. In addition, he took on the role of Singapore Chief Executive Officer from January 2017.

In his senior leadership role, Mr. Cavalli leads the Private Banking business in South Asia. He also focuses on collaboration opportunities within Credit Suisse to capitalize on the synergies and business opportunities in the region, drive profitable business growth and advance market share.

In his role as Singapore CEO, Mr. Cavalli works closely with the business heads in Singapore to support the bank’s business and client strategy. He also works with the Corporate Functions to ensure that the requisite governance and control framework is in place for the bank’s business in Singapore.

Mr. Cavalli joined Credit Suisse in November 2009 from UBS Wealth Management, where he was a Managing Director and the Head of Key Clients Singapore. He started his career in the Export Finance department at UBS in Switzerland in 1992 and headed the Commodities, Structured Trade and Export Finance at UBS Investment Bank in Hong Kong from 1997 to 2000, before beginning his career in wealth management.

He has over 25 years’ experience in both Investment Banking and Wealth Management across Switzerland and Asia, 18 of which were focused on the Singapore market and in senior management capacity.

Mr. Cavalli is accredited under IBF Advanced (IBFA) by the Institute of Banking and Finance (IBF) in Singapore.

Benjamin Cavalli Chief Executive Officer, Singapore and Head of Private Banking, South Asia,Credit Suisse

The individuals mentioned above only conduct regulated activities in the jurisdiction(s) where they are properly licensed. Please contact your Relationship Manager for further information.



Michael Parrish DuDell is an entrepreneur, keynote speaker, and the bestselling author of Shark Tank Jump Start Your Business and Shark Tank Secrets to Success—the official business books from ABC’s hit show “Shark Tank.”

Ranked as one of the top business authors by Amazon.com and named “one of nation’s leading Millennial voices” by IBM, he is a recognized industry expert and commentator who’s regularly featured across numerous media outlets, including CNN, CNBC, Fox News, Fox Business News, Bloomberg TV and many more.

An award-winning international keynote speaker, Mr. Parrish DuDell delivers high-energy speeches and workshops designed to help businesses and leaders build future-focused organizations and connect to a new generation. He has spoken for and collaborated with some of the world’s most influential brands, including companies like Kraft, Visa, L’Oreal, Toyota, and American Express.

Mr. Parrish DuDell is a contributor to several publications and authors a quarterly small business column for Costco Connection, which has a monthly circulation of 8.6 million.

Previously, he served as editor of GE’s ecomagination.com and the host of GE’s web series Green Room Live. Prior to that, he was the managing editor of The Domino Project — a publishing company founded by marketing luminary Seth Godin and powered by Amazon.com — and the host of The Next Crop, a syndicated video series sponsored by Citrix and Forbes Media.

Mr. Parrish DuDell is a One Young World Ambassador, a member of the Young Entrepreneur Council, and an advisor to numerous companies. Outside of the office, he works closely with an array of social organizations.

Michael Parrish DuDell Entrepreneur and bestselling author of Shark Tank Jump Start Your Business and Shark Tank Secrets to Success

12/13


Amanda “Mandy” Drury has had a 22-year career working at the pinnacle of global business. She has worked extensively with leading television networks CNBC, Bloomberg TV, NBC, MSNBC and Australia’s Channel 7.

Ms. Drury has interviewed political and business heavyweights such as Rupert Murdoch, President Donald Trump, US Commerce Secretary Wilbur Ross, Mitt Romney, John McCain and Jamie Dimon as well as Australian politicians such as Paul Keating, John Hewson, Wayne Swan and Joe Hockey. She also co-anchored CNBC’s “The Call” with current Director of the US National Economic Council, Larry Kudlow, in New York.

Working extensively in the Asia-Pacific arena, she has also interviewed and worked with Prime Ministers, CEOs, central bankers and finance ministers in that region. Ms. Drury has also had the pleasure of interviewing personalities from the celebrity world, such as Kylie Minogue, Curtis Stone, Mike Tyson, and the Sharks from Shark Tank in the US.

In addition, Ms. Drury is a sought-after moderator on the world stage. She has moderated confer-ences for organisations such as Credit Suisse, Charles Schwab, TD Ameritrade, Commonwealth Bank of Australia, Standard Chartered Bank and LinkedIn, as well as for non-profits such as the United Nations on topics ranging from women’s issues, microfinance and climate change. She has also moderated events in emerging industries like New Frontier Data’s Global Cannabis Town Hall.

Ms. Drury is a seasoned MC for events such as Rotary International conventions, Advance Global Australian Awards, Platts Global Energy Awards, and the Gerald Loeb Award for Distinguished Business and Financial Journalism.

She also enjoys being able to contribute her time for charity, volunteering for Rotary, the Wayside Chapel, and emceeing fundraising events for pet rescue shelters, cancer prevention, autism, St Andrew’s Cathedral Choir and local schools.

She is an alum of Melbourne University and has worked in New York, Tokyo, London, Singapore and currently lives in Sydney with her husband and two boys.

Amanda Drury Anchor, CNBC

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