Mauro Crisafulli is Managing Director for Moody’s and Country Manager for Italy. He oversees Moody’s Investors Service operations in Italy with responsibility for directing and coordinating the company’s activities.

Mauro is also responsible for sub-sovereign credits in the EMEA region. In this capacity he coordinates a group of 20 analysts and has overall responsibilities for ratings and research on regional and local governments and related entities, including transit, water, infrastructure companies, and housing associations. In his role he chairs rating committees, helps maintain the quality of ratings, and assures analytical leadership on publications.

Prior to assuming these positions, Mauro served as Group Credit Officer for the sub-sovereign group with the responsibility of ensuring the consistency of global ratings and implementing analytical initiatives worldwide. He was also a member of Moody's Public Sector Credit Committee, in charge of reviewing public sector rating methodologies. He joined Moody’s in 2004.

Mauro has a wide knowledge in credit risk analysis, with more than 25 years of experience in the public sector rating business, including 8 years in Fitch Ratings where he served as director of the public sector team. Prior to that he worked as a Financial Analyst for the City of Milan and for various industrial and service companies. Mauro holds an Economics and Business Degree from the University of Bocconi in Milan.

Colin Ellis is Moody’s first Global Credit Strategist, and a Managing Director in the Credit Strategy team. 

In his current role, Colin provides thought leadership for the rating agency that deepens the understanding of ratings and debt capital markets through rigorous and quantitative research. He leads Moody’s teams working on default and ratings analytics and on global financial analysis, including bank projections and stress testing. Colin is also a member of Moody’s Macroeconomic Board, which sets the global forecasts that underpin Moody’s universe of ratings.

Colin joined Moody’s in February 2012, initially leading the work of the Macroeconomic Board and authoring the quarterly Global Macro Outlook. He subsequently worked in the Financial Institutions Group, developing quantitative forward-looking analyses. For 8 years he was the Chief Credit Officer for EMEA, leading analysis and coordination of credit and ratings across all rating franchises in the region. He was also the ‘Head of UK’ for Moody's Ratings, responsible for the running of Moody’s UK operations, from 2019-2022 including the COVID-19 pandemic. 

Prior to joining Moody’s, Colin held roles at the Bank of England, Daiwa Capital Markets, the BVCA and at Birmingham University. He has published papers on a range of topics including corporate investment and pricing, credit risk, private equity, data uncertainty, stress testing, financial contagion and monetary policy. Colin holds degrees from York University, the London School of Economics and Political Science, and Middlesex University. He is a Visiting Professor at Hult International Business School and LSBU, and is also a Fellow of the RSA.

Sarah has been the lead analyst for most countries in the European Union, and is also a former lead analyst for the United States. She is currently the lead analyst for France and Italy, among other European countries. She is also one of the Sovereign Risk Group’s global spokespeople. 

She joined Moody’s in 2009 after completing a Sloan Fellowship at the London Business School. Prior to this academic sabbatical, she spent seven years at the Financial Services Authority in London where she headed the regulator’s Risk Analysis area and acted as its chief macroeconomist. Before joining the FSA, she worked in Dun & Bradstreet’s Economic Analysis Group for six years, where she was the organisation’s Deputy Chief Economist. 

She holds an MA in European Studies (with a concentration in Economics and Finance) from the Elliott School of International Affairs at the George Washington University in Washington, DC and an AB with a double major in Government and History from Dartmouth College in Hanover, New Hampshire in the United States. She is a CFA Charterholder and is co-chair of the Macroeconomic Committee of the CFA Society France. She is a dual citizen of the United Kingdom and the United States and is based in Paris.

Guy Combot joined Moody’s as Vice President – Senior Analyst with the Financial Institutions Group in September 2018 and is based in our Paris office. He covers a portfolio of French and Italian banks.

Prior to joining Moody’s, Guy worked at CNP Assurances, a leading provider of life insurance in France. After joining CNP Assurances in 1998, he worked in a number of positions including the compliance unit and investment division, before starting his last role as a senior buy-side credit analyst of financial institutions in 2012.

Guy graduated from IPAG Paris Business school with a Master’s degree in Corporate Finance and holds an Accounting post-graduate degree from the Conservatoire National des Arts et Métiers.

Guy is a Financial Analyst (CIAA / EFFAS), and a member of SFAF(French Society of Financial Analysts).

Guy is a French national and speaks fluent Italian and English.

Benjamin Leyre is a senior analyst in the EMEA Infrastructure Finance Group, based in Paris. He has responsibility for a portfolio of Southern European utilities, including unregulated electric and gas utilities, and regulated electric and gas networks. Benjamin has a wide range of utility experience acquired through a number of roles which he uses to comment on sector credit themes. Moody’s has a leading global Infrastructure Finance franchise, rating some US$2trillion of corporate and project finance securities, representing more than 90% of all public bonds globally in the sector. 140 analytical staff cover more than 1,000infrastructure issuers globally. Moody’s EMEA team of 50 specialists is responsible for rating 416 issuers. The rating agency covers more than 11,000 corporate issuers and 135 sovereign nations. Before joining Moody’s, Benjamin worked for Norway’s sovereign wealth fund, where he was heading the global energy team, and managing the fund’s European utilities equity portfolio. Prior to this, he worked as an equity analyst for ExaneBNP Paribas, as the head of its European utilities team, with direct coverage of large European corporates. Benjamin also worked as a senior consultant with IHS CERA, where he provided strategic advice to utilities, banks and governmental institutions in the US and in Europe, and where he kick-started the consultancy European environmental practice. Benjamin holds an M.Sc in Technology and Policy from M.I.T. and a M.Eng in mechanical Engineering and Energy Economics from Ecole des Mines de Paris. He is fluent in English and French.

Lorenzo Re is a Vice President – Senior Analyst in Moody’s the European Corporate Finance Team. Lorenzo joined Moody’s in March 2014 and is based in Milan. He is responsible for a diversified portfolio of investment grade and sub-investment grade companies, mainly in the transportation, postal services and consumer goods segments across Europe.

Before joining Moody’s, Lorenzo worked as a credit analyst in another rating agency for more than three years. Previously he worked almost 15 years as a nequity analyst in a number of Italian and international banks, including Banca IMI (Intesasanpaolo Group), Santander, Unicredit and Abn Amro, covering several Italian listed companied in the industrial and service sectors. Lorenzo graduated with a degree in economics at Università Bocconi, Milan.

Mauro Crisafulli is Managing Director for Moody’s and Country Manager for Italy. He oversees Moody’s Investors Service operations in Italy with responsibility for directing and coordinating the company’s activities.

Mauro is also responsible for sub-sovereign credits in the EMEA region. In this capacity he coordinates a group of 20 analysts and has overall responsibilities for ratings and research on regional and local governments and related entities, including transit, water, infrastructure companies, and housing associations. In his role he chairs rating committees, helps maintain the quality of ratings, and assures analytical leadership on publications.

Prior to assuming these positions, Mauro served as Group Credit Officer for the sub-sovereign group with the responsibility of ensuring the consistency of global ratings and implementing analytical initiatives worldwide. He was also a member of Moody's Public Sector Credit Committee, in charge of reviewing public sector rating methodologies. He joined Moody’s in 2004.

Mauro has a wide knowledge in credit risk analysis, with more than 25 years of experience in the public sector rating business, including 8 years in Fitch Ratings where he served as director of the public sector team. Prior to that he worked as a Financial Analyst for the City of Milan and for various industrial and service companies. Mauro holds an Economics and Business Degree from the University of Bocconi in Milan.

Lucio Caracciolo (Rome, February 7 1954) is the editor-in-chief of the Italian Geopolitical Review, Limes (www.limesonline.com).

He teaches Geopolitics at Unint University in Rome, and taught Strategic Studies at the LUISS University in Rome, at Rome 3 University and at Università San Raffaele, Milan.

He regularly writes columns for the Italian newspaper “la Repubblica” and for the magazine “l’Espresso”. He published articles in various reviews, in Italy and abroad.  He wrote some essays and books, including “Alba di guerra fredda” (“Cold War Dawn”), Rome 1986, “La democrazia in Europa” (“Democracy in Europe”, a conversation with Ralf Dahrendorf, François Furet, Bronislaw Geremek), Rome 1991, “Euro no, non morire per Maastricht” (“Euro no, don’t die for Maastricht”) Rome 1996, “Terra incognita”, Rome 2002; “America vs. America, perché gli Stati Uniti sono in guerra con se stessi” (Why the U.S. is at war with itself), Rome 2011, “Storia contemporanea” (Contemporary History), Milan 2017, “La pace è finita” (Milan 2022).

Lorenzo Re is a Vice President – Senior Analyst in Moody’s the European Corporate Finance Team. Lorenzo joined Moody’s in March 2014 and is based in Milan. He is responsible for a diversified portfolio of investment grade and sub-investment grade companies, mainly in the transportation, postal services and consumer goods segments across Europe.

Before joining Moody’s, Lorenzo worked as a credit analyst in another rating agency for more than three years. Previously he worked almost 15 years as a nequity analyst in a number of Italian and international banks, including Banca IMI (Intesasanpaolo Group), Santander, Unicredit and Abn Amro, covering several Italian listed companied in the industrial and service sectors. Lorenzo graduated with a degree in economics at Università Bocconi, Milan.

Lucio Caracciolo (Rome, February 7 1954) is the editor-in-chief of the Italian Geopolitical Review, Limes (www.limesonline.com).

He teaches Geopolitics at Unint University in Rome, and taught Strategic Studies at the LUISS University in Rome, at Rome 3 University and at Università San Raffaele, Milan.

He regularly writes columns for the Italian newspaper “la Repubblica” and for the magazine “l’Espresso”. He published articles in various reviews, in Italy and abroad.  He wrote some essays and books, including “Alba di guerra fredda” (“Cold War Dawn”), Rome 1986, “La democrazia in Europa” (“Democracy in Europe”, a conversation with Ralf Dahrendorf, François Furet, Bronislaw Geremek), Rome 1991, “Euro no, non morire per Maastricht” (“Euro no, don’t die for Maastricht”) Rome 1996, “Terra incognita”, Rome 2002; “America vs. America, perché gli Stati Uniti sono in guerra con se stessi” (Why the U.S. is at war with itself), Rome 2011, “Storia contemporanea” (Contemporary History), Milan 2017, “La pace è finita” (Milan 2022).

Mauro Crisafulli is Managing Director for Moody’s and Country Manager for Italy. He oversees Moody’s Investors Service operations in Italy with responsibility for directing and coordinating the company’s activities.

Mauro is also responsible for sub-sovereign credits in the EMEA region. In this capacity he coordinates a group of 20 analysts and has overall responsibilities for ratings and research on regional and local governments and related entities, including transit, water, infrastructure companies, and housing associations. In his role he chairs rating committees, helps maintain the quality of ratings, and assures analytical leadership on publications.

Prior to assuming these positions, Mauro served as Group Credit Officer for the sub-sovereign group with the responsibility of ensuring the consistency of global ratings and implementing analytical initiatives worldwide. He was also a member of Moody's Public Sector Credit Committee, in charge of reviewing public sector rating methodologies. He joined Moody’s in 2004.

Mauro has a wide knowledge in credit risk analysis, with more than 25 years of experience in the public sector rating business, including 8 years in Fitch Ratings where he served as director of the public sector team. Prior to that he worked as a Financial Analyst for the City of Milan and for various industrial and service companies. Mauro holds an Economics and Business Degree from the University of Bocconi in Milan.

Sarah has been the lead analyst for most countries in the European Union, and is also a former lead analyst for the United States. She is currently the lead analyst for France and Italy, among other European countries. She is also one of the Sovereign Risk Group’s global spokespeople. 

She joined Moody’s in 2009 after completing a Sloan Fellowship at the London Business School. Prior to this academic sabbatical, she spent seven years at the Financial Services Authority in London where she headed the regulator’s Risk Analysis area and acted as its chief macroeconomist. Before joining the FSA, she worked in Dun & Bradstreet’s Economic Analysis Group for six years, where she was the organisation’s Deputy Chief Economist. 

She holds an MA in European Studies (with a concentration in Economics and Finance) from the Elliott School of International Affairs at the George Washington University in Washington, DC and an AB with a double major in Government and History from Dartmouth College in Hanover, New Hampshire in the United States. She is a CFA Charterholder and is co-chair of the Macroeconomic Committee of the CFA Society France. She is a dual citizen of the United Kingdom and the United States and is based in Paris.

Colin Ellis is Moody’s first Global Credit Strategist, and a Managing Director in the Credit Strategy team. 

In his current role, Colin provides thought leadership for the rating agency that deepens the understanding of ratings and debt capital markets through rigorous and quantitative research. He leads Moody’s teams working on default and ratings analytics and on global financial analysis, including bank projections and stress testing. Colin is also a member of Moody’s Macroeconomic Board, which sets the global forecasts that underpin Moody’s universe of ratings.

Colin joined Moody’s in February 2012, initially leading the work of the Macroeconomic Board and authoring the quarterly Global Macro Outlook. He subsequently worked in the Financial Institutions Group, developing quantitative forward-looking analyses. For 8 years he was the Chief Credit Officer for EMEA, leading analysis and coordination of credit and ratings across all rating franchises in the region. He was also the ‘Head of UK’ for Moody's Ratings, responsible for the running of Moody’s UK operations, from 2019-2022 including the COVID-19 pandemic. 

Prior to joining Moody’s, Colin held roles at the Bank of England, Daiwa Capital Markets, the BVCA and at Birmingham University. He has published papers on a range of topics including corporate investment and pricing, credit risk, private equity, data uncertainty, stress testing, financial contagion and monetary policy. Colin holds degrees from York University, the London School of Economics and Political Science, and Middlesex University. He is a Visiting Professor at Hult International Business School and LSBU, and is also a Fellow of the RSA.

Guy Combot joined Moody’s as Vice President – Senior Analyst with the Financial Institutions Group in September 2018 and is based in our Paris office. He covers a portfolio of French and Italian banks.

Prior to joining Moody’s, Guy worked at CNP Assurances, a leading provider of life insurance in France. After joining CNP Assurances in 1998, he worked in a number of positions including the compliance unit and investment division, before starting his last role as a senior buy-side credit analyst of financial institutions in 2012.

Guy graduated from IPAG Paris Business school with a Master’s degree in Corporate Finance and holds an Accounting post-graduate degree from the Conservatoire National des Arts et Métiers.

Guy is a Financial Analyst (CIAA / EFFAS), and a member of SFAF(French Society of Financial Analysts).

Guy is a French national and speaks fluent Italian and English.

Benjamin Leyre is a senior analyst in the EMEA Infrastructure Finance Group, based in Paris. He has responsibility for a portfolio of Southern European utilities, including unregulated electric and gas utilities, and regulated electric and gas networks. Benjamin has a wide range of utility experience acquired through a number of roles which he uses to comment on sector credit themes. Moody’s has a leading global Infrastructure Finance franchise, rating some US$2trillion of corporate and project finance securities, representing more than 90% of all public bonds globally in the sector. 140 analytical staff cover more than 1,000infrastructure issuers globally. Moody’s EMEA team of 50 specialists is responsible for rating 416 issuers. The rating agency covers more than 11,000 corporate issuers and 135 sovereign nations. Before joining Moody’s, Benjamin worked for Norway’s sovereign wealth fund, where he was heading the global energy team, and managing the fund’s European utilities equity portfolio. Prior to this, he worked as an equity analyst for ExaneBNP Paribas, as the head of its European utilities team, with direct coverage of large European corporates. Benjamin also worked as a senior consultant with IHS CERA, where he provided strategic advice to utilities, banks and governmental institutions in the US and in Europe, and where he kick-started the consultancy European environmental practice. Benjamin holds an M.Sc in Technology and Policy from M.I.T. and a M.Eng in mechanical Engineering and Energy Economics from Ecole des Mines de Paris. He is fluent in English and French.