Participation

The Meeting was composed of 58 representatives: 18 participants nominated by governments of ILO member States chosen by the Governing Body of the International Labour Office; 20 representatives nominated by the Governing Body after consultations with the Employers' group; and 20 representatives nominated by the Governing Body after consultations with the Workers' Group. Governments of the following countries participated: Argentina, Belgium, Canada, Chile, Ecuador, France, Ghana, India, Japan, Republic of Korea, Luxembourg, Morocco, Nigeria, Slovakia, Spain, Switzerland, and Thailand. The Governments of Panama, the Philippines and the United States were represented by observers. Twenty Employer and 20 Worker delegates participated as well as am Employer adviser and seven Worker advisers. Invitations to participate as observers - with the right to speak but not to vote - were extended to a number of intergovernmental and non-governmental organizations involved with the banking and financial services sector. The full list of participants is included in the Note on proceedings..

The Meeting was also open to the general public, but the right to take the floor was restricted to official delegates, to technical advisers accompanying them, and to representatives of invited intergovernmental and non-governmental organizations.

Purpose of the Meeting

At its 274th (March 1999) Session, the Governing Body decided that the purpose of the Meeting should be:

• to exchange views on the impact on employment of mergers and acquisitions in the banking and financial services sector, using a report prepared by the Office as the basis for its discussions;
• to adopt conclusions that include proposals for action by governments, by employers' and workers' organizations at the national level and by the ILO; and
• to adopt a report on its discussions.

The Meeting also adopted resolutions. The "conclusions" embody the consensus of the Meeting on the topic being considered and on appropriate policy actions. The "resolutions" express the sense of the Meeting on general labour and social issues in the sector concerned, other than those covered by the agenda item, or future activities of the ILO relating to the problems of the sector.

Agenda and report to the Meeting

As a basis for the discussions a report prepared by the International Labour Office, The employment impact of mergers and acquisitions in the banking and financial services sector, also available in pdf format in English, French and Spanish (with summaries in Arabic, Chinese, German and Russian), includes information and analysis of the following issues related to mergers and acquisitions (M&As) in the financial services sector:

• Sectoral characteristics, role and general trends
• Factors driving the process
• Some of the obstacles to success
• Regional and thematic overviews of the employment effects
• Examples of policy frameworks and practices related to worker displacement in a selected number of countries, and applicable ILO instruments
• Working and employment conditions, and
• Social dialogue

At the end of the report is a list of suggested Points for discussion centering around employment, working and employment conditions, training, social dialogue, and priority action(s) to be undertaken by the ILO to assist member States to adopt policies appropriate to the impact of M&As.

Panel discussions

Three themes - covering trends in M&As, gender aspects of M&As, and information and consultation in the context of M&As - were further elaborated in panel discussions involving Meeting participants, ILO specialists and outside experts. Panel discussions are not intended to produce negotiated texts, but their content is summarised in the Note on proceedings of the Meeting.

Note on the proceedings

Following the meeting, the ILO published a Note on the Proceedings, including a report of the discussion and the conclusions and resolutions adopted.

Contact address for more information

Mr. John Sendanyoye,
Financial Services, Professional Services Specialist
Sectoral Activities Department,
International Labour Office,
4 route des Morillons,
CH-1211 GENEVE 22, Switzerland
Tel: +41 22 799 7897; Fax: +41 22 799 7046;
e-mail: sendanyoye@ilo.org or sector@ilo.org