European SSA forum

The second European SSA forum from OMFIF’s Sovereign Debt Institute will bring together leading European sovereign and public sector borrowers with global fixed income investors to address the key issues affecting the market. These are high-level, strategic discussions in a collaborative setting, which do not shy away from difficult subjects and in which interactive debate between attendees is facilitated by OMFIF’s moderators.
The first forum in September 2022 brought together the heads of the French, German, Italian and Dutch debt management offices along with senior funding officials from the European Union, European Investment Bank and KfW. Topics of discussion included liquidity challenges facing sovereign borrowers and the impact of the EU’s €800bn funding programme on other large borrowers in the region. Over 350 attendees joined the event virtually, with investors and issuers making up around half of the audience.
The liquidity challenges faced by public sector borrowers is an area that the SDI has focused on throughout 2023, beginning with the publication of our survey of more than 30 leading issuers in January, which highlighted the need for a re-set in the relationship between primary dealers, issuers and investors.
The September forum will go further in exploring how the relationship between borrowers and their intermediaries can evolve with the use of incentives, and how banks are coping with their obligations in tougher market conditions. It will examine investor relations in more volatile markets and the challenge of finding clear issuance windows.
It will also hear directly from leading investors on how their approach to investing in high-quality, public sector assets has evolved and what issuers need to do to maximise their participation in debt programmes. The agenda will include a dedicated session on the development of the retail government bond market and a discussion examining the sustainable finance market.
Speakers
Patrick Barbe
Head, European Investment Grade Fixed Income
Neuberger Berman
Patrick Barbe
Head, European Investment Grade Fixed Income
Neuberger Berman
Patrick Barbe is head of European investment grade fixed income at Neuberger Berman. He also serves as a senior portfolio manager on that asset class. Previously, Barbe was head of European fixed income at BNP Paribas Asset Management. He started his career as a portfolio manager of dedicated mutual funds for a BNP Paribas subsidiary
Charlie Berman
Founder and CEO
Agora
Charlie Berman
Founder and CEO
Agora
Louise Bergstrom
Funding and Investor Relations Executive
Swedish Export Credit Corporation
Louise Bergstrom
Funding and Investor Relations Executive
Swedish Export Credit Corporation
Louise Bergstrom is funding and investor relations executive at Swedish Export Credit Corporation. She has extensive experience from the fixed income market, both from the banking side in London and as a funding and investor relations executive on the Treasury side for a variety of Swedish enterprises.
Niall Bohan
Director, Asset Debt and Financial Risk Management
European Commission
Niall Bohan
Director, Asset Debt and Financial Risk Management
European Commission
Niall Bohan is director, asset, debt and financial risk management at the European Commission. Bohan was head of the banking unit with responsibility for implementation of the Capital Requirements Regulation and Directive. He assumed responsibility for management of the unit responsible for the capital markets union.
Bertrand De Mazières
Director General for Finance
European Investment Bank
Bertrand De Mazières
Director General for Finance
European Investment Bank
Bertrand de Mazières is director general for finance at the European Investment Bank. He was previously elected president of the Euro Debt Market Association. He has held senior positions in the French ministry of finance and
previously served as financial attaché at the French embassy in Washington.
Arnaud Delestienne
Director, International Capital Markets
Luxembourg Stock Exchange
Arnaud Delestienne
Director, International Capital Markets
Luxembourg Stock Exchange
Arnaud Delestienne is director of international capital markets and a member of the Executive Committee of the Luxembourg Stock Exchange where he leads the overall commercial strategies and international primary market activities. He was appointed to various associations, including the International Organisation for Standardisation and the International Capital Market Association.
Marjan Divjak
Director General, Treasury
Ministry of Finance, Slovenia
Marjan Divjak
Director General, Treasury
Ministry of Finance, Slovenia
Marjan Divjak is director general of the Treasury at Slovenia’s Ministry of Finance. His responsibilities include funding, liability management, state budget liquidity management and single Treasury account operations. He previously worked in the middle office of the Treasury directorate. He has also been an adviser in the office of the prime minister.
Steffen Dyck
Senior Vice President, Sovereign Risk Group
Moody’s Investor Service
Steffen Dyck
Senior Vice President, Sovereign Risk Group
Moody’s Investor Service
Esther Finnbogadóttir
Head, Funding and Debt Management
Ministry of Finance and Economic Affairs, Iceland
Esther Finnbogadóttir
Head, Funding and Debt Management
Ministry of Finance and Economic Affairs, Iceland
Esther Finnbogadóttir is head of funding and debt management at the Icelandic ministry of finance and economic affairs. Prior to this, she worked for the advisory company Analytica and its predecessor, the risk advisory division at Askar Capital, mainly in risk, debt and asset management advisory. She is also a member of the board of directors of the Nordic Investment Bank
Bálint Fischer
Chief Business Development Officer
Dorsum
Bálint Fischer
Chief Business Development Officer
Dorsum
Bálint Fischer is chief business development officer at Dorsum. His duties involve wealth management and helping financial institutions in their digital transformation in this domain. Fischer has been working as a business-side decision maker for banks, brokerages and investment management firms, with an interest to innovate with the latest fintech solutions.
Felipe Gordillo
ESG Senior Analyst
Mirova
Felipe Gordillo
ESG Senior Analyst
Mirova
Felipe Gordillo is environmental, social and governance senior analyst at Mirova. Previously, he was a senior ESG analyst at BNP Paribas Asset Management and a member of the Climate Bonds Standard Board and the Principles for Responsible Investment’s sovereign engagement working group.
Davide Iacovoni
Director General, Public Debt
Ministry of Economy and Finance, Italy
Davide Iacovoni
Director General, Public Debt
Ministry of Economy and Finance, Italy
Davide Iacovoni is director general of public debt at Italy’s ministry of economy and finance. He was a director of Poste Italiane and, since 2009, he has been an untenured professor at the University of Padua for public economics and financial markets.
Samir Ismayilov
Principal, Capital and Financial Markets Development
European Bank for Reconstruction and Development
Samir Ismayilov
Principal, Capital and Financial Markets Development
European Bank for Reconstruction and Development
Samir Ismayilov is principal of the capital and financial markets development team at the European Bank for Reconstruction and Development. He led technical assistance projects on securities market policy initiatives and reforms in EBRD’s regions, managed contractual aspects and provided regulatory and transactional assistance to its teams for local currency bond issuance /investments.
Robert Koller
Founder and Chief Executive Officer
NowCM
Robert Koller
Founder and Chief Executive Officer
NowCM
Robert Koller is founder and chief executive officer of NowCM, a debt issuance platform. He has experience in primary capital markets and programming and IT processes. As a lawyer, he has vast expertise in debt capital markets, regulatory and funds as well as in the social impact area
Zoltán Kuráli
Chief Executive Officer
Government Debt Management Agency, Hungary
Zoltán Kuráli
Chief Executive Officer
Government Debt Management Agency, Hungary
Zoltán Kuráli is chief executive officer of Hungary’s government debt management agency. He worked at various commercial and investment banks, including BNP-Dresdner and Citi before moving to Deutsche Bank, where he held various management and senior investment banking positions.
Sven Lautenschläger
International Funding Officer
L-Bank
Sven Lautenschläger
International Funding Officer
L-Bank
Sven Lautenschläger is international funding officer at L-Bank. Before joining the refinancing division, he worked in risk controlling for Dresdner Bank S.A., Luxembourg and L-Bank. He has also acted as Chair of the State Project Finance Company of Baden-Wuerttemberg. He is responsible for all longterm-funding activities of L-Bank and running LBank’s investment and liquidity
portfolio
Alexander Liebethal
Vice President, Capital Markets and Head, New Issues
KfW
Alexander Liebethal
Vice President, Capital Markets and Head, New Issues
KfW
Alexander Liebethal is vice president of the capital markets department of KfW. His responsibility is managing KfW’s funding activities in structured notes and private placements. He was involved in the KfW’s Euro benchmark
programme and global issues in the dollar market. Moreover, apart from debt capital markets, he oversees KfW’s shareholdings in Deutsche Post and Deutsche Telekom.
Yanick Loirat
Head, Euro Sovereign Investments
Neuberger Berman
Yanick Loirat
Head, Euro Sovereign Investments
Neuberger Berman
Yanick Loirat is head of euro sovereign investments at Neuberger Berman. He is also a senior portfolio manager of that asset class. Previously, he was a portfolio manager of dedicated mutual funds for BNP Paribas Asset Management, and later head of euro sovereign rates and inflation. He also worked at Ixis Corporate and Investment Bank and at Société Générale.
Friedrich Luithlen
Head, Debt Capital Markets
DZ BANK
Friedrich Luithlen
Head, Debt Capital Markets
DZ BANK
Friedrich Luithlen is head of debt capital markets & syndication at DZ BANK. Luithlen ran the private placement business of the bank, and acted as head of covered bond origination. Luithlen is also responsible for a number of DZ
BANK’S digitalisation projects that aim to streamline transform internal as well as client-facing processes in the primary debt market business.
Jürgen Martinschledde
Senior Portfolio Manager
MEAG
Jürgen Martinschledde
Senior Portfolio Manager
MEAG
Jürgen Martinschledde is senior portfolio manager at MEAG. Previously, he was a portfolio manager at Tecta and portfolio risk manager and quantitative analyst at at Pacific Investment Management Company.
Olivier Pujal
Senior Adviser to the Chief Financial Officer
European Stability Mechanism
Olivier Pujal
Senior Adviser to the Chief Financial Officer
European Stability Mechanism
Olivier Pujal is senior adviser to the chief financial officer at the European Stability Mechanism. He joined the ESM as deputy head of the assets and liabilities management team. Previously, he worked at Société Générale Corporate and Investment Banking and Crédit Agricole SA where he had
management roles in risk management and ALM.
Ioannis Rallis
Head of SSA DCM
JP Morgan
Ioannis Rallis
Head of SSA DCM
JP Morgan
Ioannis Rallis is executive director and head of sovereigns, supranationals agencies and debt capital markets at JP Morgan. He heads the team for regional governments and covers some of the largest public sector issuers in
Europe. As part of his role, he also manages the bank’s primary dealerships in
the euro area.
Cyril Rousseau
Chief Executive Officer
Agence France Trésor
Cyril Rousseau
Chief Executive Officer
Agence France Trésor
Cyril Rousseau is director general for finance at the European Investment Bank. Prior to this, he was chief executive of Agence France Trésor.
Asif Sherani
Managing Director, Head of DCM Syndicate EMEA
HSBC
Asif Sherani
Managing Director, Head of DCM Syndicate EMEA
HSBC
Asif Sherani is managing director and head of debt capital markets syndicate at the Europe, Middle East and Asia syndicate desk in London as well as globally.
He has executed a number of the largest transactions in the European debt capital markets and played a part in the continued growth of HSBC’s public sector DCM franchise. He is now working on the digital transition for capital
markets.
Sergio Sierra
Head of Funding and Treasury
Instituto de Crédito Oficial, Spain
Sergio Sierra
Head of Funding and Treasury
Instituto de Crédito Oficial, Spain
Sergio Sierra is head of funding and treasury at Instituto de Crédito Oficial.
He was part of the team responsible for issuing bonds in different currencies and markets. He participated in the issuance of ICO social bonds and the preparation of the Social Bond Principles by the International Capital Market Association. He was also head of the securitisation and investor relations department.
Markus Stix
Managing Director
Austrian Treasury
Markus Stix
Managing Director
Austrian Treasury
Markus Stix is managing director of the debt management office at the Austrian Treasury. His duties include European Union, International Monetary Fund and Organisation for Economic Co-operation and Development affairs. He is also a steering committee member of the OECD working party on debt management.
Marek Szczerbak
Deputy Director, Public Debt department
Ministry of Finance, Poland
Marek Szczerbak
Deputy Director, Public Debt department
Ministry of Finance, Poland
Marek Szczerbak is deputy director of the public debt department at Poland’s ministry of finance. His main areas of responsibility include the strategy of debt management, financing plans as well as risk management framework, having assessed the economic impact on Poland of adopting the euro.
Rocío Trueba Miralles
Deputy Head, Funding Debt Management
Spanish Treasury
Rocío Trueba Miralles
Deputy Head, Funding Debt Management
Spanish Treasury
Rocío Trueba Miralles is deputy head of the funding and debt management department of the Spanish Treasury. Her responsibilities include devising and executing Spain’s funding programme, investor marketing, supervising
and regulating the Treasury’s relationship with its 19 primary dealers and coordinating the capital markets presence of public-sector sub-sovereign issuers
Thomas Weinberg
Head, Trading and Issuance
Deutsche Finanzagentur
Thomas Weinberg
Head, Trading and Issuance
Deutsche Finanzagentur
Thomas Weinberg is head of trading and issuance at Deutsche Finanzagentur. Before joining, Weinberg worked for the financial markets division, as asset and liability management, international capital markets and head of money markets and foreign exchange at Kreditanstalt für Wiederaufbau.
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