Join Moody’s experts, financial leaders and policymakers to explore key themes shaping the economic trajectory for Poland and the wider region. From dissecting monetary policy and the energy transition to navigating banking trends, this Poland and CEE Summit will cover the critical issues affecting credit.
Poland and CEE Summit
Opportunities in an evolving economic and energy landscape
IN-PERSON EVENT | Warsaw, Poland | InterContinental Warsaw
Registration is now closed
Agenda
Registration
Monetary Policy and the Polish Economic Outlook
- Is the global inflation shock over, or is there more to come?
- What have we learned about economic resilience given recent shocks?
- How will the Polish economy fare given intense geopolitical risks?
CEE Sovereign Outlook – Focus on Poland
- What are the main credit developments in the region?
- How has Poland’s credit profile evolved during the first year of the Tusk government?
Assessing the carbon transition
- How does Moody’s assess corporates’ carbon transition plans?
- What makes a credible transition plan?
Energy Transition in Poland
- What does Poland’s new energy strategy mean for credit and investment?
- What are the challenges in implementing energy transition in the country?
- How ambitious and credible are corporate transition plans?
Coffee and Networking Break
Banking and Finance Trends
- How many interest rate cuts should we expect for 2025 and how will that affect banks performance?
- Is the Swiss-franc saga behind us?
- Have real estate markets bottomed out?
- Bank of the future- How well prepared are Polish banks for the next steps of the technological advancement in banking?
Covered Bonds Deep Dive
- How is the landscape of covered bonds evolving?
- Residential mortgages and real estate dynamics
From Stability to Growth: Corporate Update
- Assessing economic recovery and corporate resilience in CEE
- Investor confidence and capital flows in CEE
- Corporate funding dynamics
- Integrating sustainability for long term growth
Cyber Shaping Credit
- Most important drivers of credit impact
- Analysis of historical cyber-related ratings actions
- Evolution of cyber credit impact over time
Lunch and Networking
Venue Details:
Venue Name: InterContinental Warsaw
Address: Emilii Plater 49, 00-125 Warszawa, Poland
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David Aldrich is Managing Director of the EMEA Commercial Group, with responsibility for all Moody’s customer relationships in EMEA, across both Developed and Emerging Markets, for Fundamental and Structured Finance.
David is also Managing Director for relationships with Global Sovereign and Multilateral Development Banks, and previously was Head of Emerging-EMEA for Regional Management. Prior to joining Moody’s in 2013, David managed various fixed income, derivatives and securities services businesses at UBS, Credit Suisse, JP Morgan and, latterly, BNY Mellon. At BNY Mellon, David was EMEA Business Executive for both Alternative Investment Services and Broker-Dealer Services, and was also Head of Securities Industry Banking, Europe within Global Client Management.
David studied Economics at the University of Kent and is on the MBA Advisory Board at Bayes Business School, City, University of London.
Piotr Janczak serves as the Moody’s Ratings' Country Manager, Poland. Based in Warsaw, he leads the rating agency’s operations in Poland and and coordinates the commercial activities of Moody’s across Central and Eastern Europe (CEE) and Commonwealth of Independent States (CIS).
Mr. Janczak graduated from the Foreign Trade Faculty of the Warsaw School of Economics. He has more than 25 years’ experience in equity as well as debt capital markets and loans across CEE. He joined Moody’s Investors Service in 2015 from Erste Group Bank AG, where he had been a director at the Merchant Banking division, based in Prague and covering CEE. Prior to that, Mr. Janczak served as a Director of Capital Markets at Deutsche Bank group in Warsaw.
He has been dealing with macroeconomic research and forecasting for 25 years. Since 2016 head of Economic Research Department and Chief Economist at PKO Bank Polski. Vast experience at international financial institutions: chief economist for Poland at Nordea Markets, head of research team at Raiffeisen Bank Poland and senior economist at Santander Bank Poland. Expert at one of leading economic think-tanks in Poland, the Center for Social and Economic Research (CASE), with participation in scientific and advisory projects abroad. Warsaw University graduate. Participated in many trainings covering econometric modelling, forecasting and mathematical methods in financial markets (e.g. Swiss Finance Institute and Cambridge Econometrics). Co-author of a few economic books and numerous articles on economy and financial markets. Regularly awarded for accuracy of economic forecasts (Consensus Economics, Focus Economics, Forbes, Parkiet, Rzeczpospolita), including three titles of the Economist of the Year from a major Polish economic and financial newspaper Parkiet for the most accurate macroeconomic and financial market forecasts for Poland during the last four years.
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.
Steffen Dyck is a Senior Vice President in Moody’s Sovereign Risk Group.
Based in Frankfurt, he is the lead analyst for a portfolio of European sovereigns and multilateral institutions.
Up until early 2018, Steffen was the lead analyst for number of sovereigns and multilaterals in the Middle East, including Egypt and most of the Gulf Cooperation Council members.
Before relocating to Frankfurt in June 2015, Steffen was based in Moody’s Singapore office, where he covered sovereigns in the Asia-Pacific region as well as in the Middle East.
Prior to joining Moody’s in 2012, Steffen worked for more than six years with Deutsche Bank’s Risk Analysis team in Frankfurt and Singapore, covering macroeconomic and sovereign risk analysis across Asia (ex-Japan), Latin America, and Sub-Saharan Africa. He also helped manage the bank’s sovereign rating processes.
Vincent Allilaire is a VP-Senior Credit Officer in the ESG (Environment, Social and Governance) team within Moody’s Ratings, focusing on the credit implications of the transition to low-carbon operations across sectors, and more broadly on integrating ESG risks within our credit analysis. This role draws on Vincent’s dual experience as an ESG and Credit analyst, having previously led the Moody’s Analytics team focused on Sustainability Ratings, as well as having assessed and invested into carbon transition assets.
Vincent joined in 2017 from Legal & General Investment Management (LGIM), where he was leading the credit team focusing on illiquid, unrated debt investments, including assigning internal ratings across a wide range of structures and sectors. Prior to joining LGIM, Vincent worked for MetLife in an investment role focusing on infrastructure debt in Europe. Prior to that, he spent 10 years at Standard & Poor’s as an analyst covering corporates , then project finance credits. His first credit role was at Deutsche Bank.
Vincent is a dual French-British national, and holds a Master’s degree in Finance from the University of Southampton, having previously graduated in Economics and Political Sciences from the French Institute of Political Sciences in Bordeaux, where he originates from.
Steffen Dyck is a Senior Vice President in Moody’s Sovereign Risk Group.
Based in Frankfurt, he is the lead analyst for a portfolio of European sovereigns and multilateral institutions.
Up until early 2018, Steffen was the lead analyst for number of sovereigns and multilaterals in the Middle East, including Egypt and most of the Gulf Cooperation Council members.
Before relocating to Frankfurt in June 2015, Steffen was based in Moody’s Singapore office, where he covered sovereigns in the Asia-Pacific region as well as in the Middle East.
Prior to joining Moody’s in 2012, Steffen worked for more than six years with Deutsche Bank’s Risk Analysis team in Frankfurt and Singapore, covering macroeconomic and sovereign risk analysis across Asia (ex-Japan), Latin America, and Sub-Saharan Africa. He also helped manage the bank’s sovereign rating processes.
Vincent Allilaire is a VP-Senior Credit Officer in the ESG (Environment, Social and Governance) team within Moody’s Ratings, focusing on the credit implications of the transition to low-carbon operations across sectors, and more broadly on integrating ESG risks within our credit analysis. This role draws on Vincent’s dual experience as an ESG and Credit analyst, having previously led the Moody’s Analytics team focused on Sustainability Ratings, as well as having assessed and invested into carbon transition assets.
Vincent joined in 2017 from Legal & General Investment Management (LGIM), where he was leading the credit team focusing on illiquid, unrated debt investments, including assigning internal ratings across a wide range of structures and sectors. Prior to joining LGIM, Vincent worked for MetLife in an investment role focusing on infrastructure debt in Europe. Prior to that, he spent 10 years at Standard & Poor’s as an analyst covering corporates , then project finance credits. His first credit role was at Deutsche Bank.
Vincent is a dual French-British national, and holds a Master’s degree in Finance from the University of Southampton, having previously graduated in Economics and Political Sciences from the French Institute of Political Sciences in Bordeaux, where he originates from.
Sebastien is part of the EMEA Corporate Finance Group based in Poland. His current portfolio focuses on oil and chemical companies. Until 2022, Sebastien was based in London covering European telecommunications and media issuers and prior to that was responsible for a portfolio of mainly European high yield issuers operating in industries including payment solutions, business and consumer services, equipment and transportation rental services, and retail.
Prior to re-joining Moody’s in 2011, Sebastien was an analyst within the credit team at LGT Capital Partners (fund of hedge funds based in Switzerland), where he monitored a portfolio of investments in distressed credit/special situations hedge funds.
Knut Slatten is a Vice President – Senior Credit Officer at Moody’s working in the Moody's EMEA Project and Infrastructure Finance team. He currently covers a portfolio of companies that essentially comprises unregulated European utilities names. In his capacity as lead analyst, Knut has written numerous research publications and has spoken at several conferences. Prior to joining the Infrastructure Finance team, Knut spent 13 years in corporate finance at Moody's has covered a wide range of different industries, including pharmaceuticals.
Moody’s has a leading global Infrastructure Finance franchise, rating some US$2 trillion of corporate and project finance securities, representing more than 90% of all public bonds issued globally in the sector. 180 analytical sector staff cover more than 1,700 infrastructure issuers globally. Moody’s EMEA team of 46 specialists is responsible for rating around 430 issuers. The rating agency covers more than39,000 issuers and transactions. He joined Moody’s in 2007. Prior to joining Moody’s, Knut worked as a credit analyst for Société Générale in Paris, covering oil and gas companies. Knut holds an MSc. (Econ.) degree from the Norwegian School of Economics and business Administration.
Pepa Mori is a Senior Vice President in the Financial Institutions Group. She joined Moody’s in 2008 as part of the Iberian team. Since then she has managed a wide portfolio of issuers, currently covering banks in Italy and Spain. She also has oversight responsibilities for Moody’s banks ratings in Central Eastern Europe.
Prior to joining Moody’s, Ms. Mori worked as a credit analyst in a variety of roles. These include credit research at BBVA, rating European sub-sovereigns and public sector companies at Standard & Poor’s; and financial analysis at BBVA’s asset management division. Ms. Mori holds a Bachelor Degree in Business Administration and MSc in Finance from Colegio Universitario de Estudios Financieros (CUNEF), Madrid (Spain).
In his professional career, he has gathered more than 25 years’ of comprehensive experience from companies at various stages of development, within banking and financial market institutions, Green Energy, and Real Estate. During his business career he has been associated with PKO Bank Polski, supervising the areas of financial risk planning and control, as well as the area of risk and debt collection from 2008 to 2011 and since March 2024 as a Vice President of the Management Board responsible for Finance and Accounting.
In 2012 the President of the National Bank of Poland awarded him for services to the banking sector of the Republic of Poland.
His core field of interest are banking energy transformation. He is the Head of the Committee for Hydrogen Technologies and Energy Storage of the Polish New Mobility Association.
In 1998, he completed an internship at the Depository Trust Company in (New York), and a course for candidates for investment advisors and Chartered Financial Analyst (CFA). He passed the EFPA ESG Advisor certification exam in 2023.
He graduated from the Warsaw School of Economics in finance and banking. He also completed postgraduate studies in philosophy at Collegium Civitas as well as:
• Erasmus University Rotterdam - Principles of Sustainable Finance under the guidance of the esteemed Professor Dirk Schoenmaker
• University of Pennsylvania - ESG Risks and Opportunities
• Wharton School - Global Trends for Business and Society
He is husband to Łucja and a father to two daughters, Nina and Gaia. He actively practices triathlon and supports the development of this sport as a board member of the TRICLUB ASSOCIATION. He is also involved in the development of education as a member of the management board of a private secondary school and a member of the EFPA Foundation Council, where he promotes high ethical and professional standards in the financial consulting segment.
Melina Skouridou is a Vice President- Senior Analyst and lead analyst for EMEA financial institutions, with a focus in Central and South Eastern Europe. In this role, she currently provides ratings analysis for a portfolio of banks in Poland, Hungary, and Slovenia. Prior to that she covered Norwegian and Cypriot banks, as well as financial institutions in Egypt, Israel, Romania and Bulgaria. This included large private, public, and state affiliated banks; small and mid-sized commercial lenders, and government-related institutions.
Melina joined Moody’s Limassol office in 2006, and started her Moody’s tenure covering financial institutions operating in the Gulf Cooperation Council. Prior to joining Moody’s, she worked as analyst for a local investment management firm conducting analysis for various securities and participating in the investment decision process.
Melina has an MSc Financial Mathematics from King’s College, University of London and a BSc Mathematics from the same school. She earned her CFA designation in 2009.
Luis Romaguera is an Assistant Vice President – Analyst in Moody´s Covered Bonds team, and is based in the Madrid office. He has Lead Analyst responsibilities for covered bond programmes issued in Iberia and several markets in Central and Eastern Europe.
Luis joined Moody’s from Fitch Ratings, where he held different lead analyst roles across Madrid and London in the European Structured Finance team. Luis holds a Degree in Economics from the University of Greenwich in London.
Mr Jeziolowicz also represents the Polish banking sector in of the European Banking Federation. As part of the Federation, he takes part in the work of the Retail Banking Committee, Secondary Markets Working Group and several working groups on financial markets and sustainable financing.
From July 2013, he was a member of the Council for WIBID and WIBOR Reference Rates at ACI Polska. And after the change of administrator, since 2016 he is a member of the Oversight Committee of Reference Interest Rates at GPW Benchmark SA.
Since June 2013, he has been a member of the KDPW_CCP Risk Committee (Chairman in 2013-2020, and Deputy Chairman from 2020).
Sebastien is part of the EMEA Corporate Finance Group based in Poland. His current portfolio focuses on oil and chemical companies. Until 2022, Sebastien was based in London covering European telecommunications and media issuers and prior to that was responsible for a portfolio of mainly European high yield issuers operating in industries including payment solutions, business and consumer services, equipment and transportation rental services, and retail.
Prior to re-joining Moody’s in 2011, Sebastien was an analyst within the credit team at LGT Capital Partners (fund of hedge funds based in Switzerland), where he monitored a portfolio of investments in distressed credit/special situations hedge funds.
Maciej is the member of leadership team of Corporate & Investment Banking in Poland and participates in shaping and executing strategy of the division in Poland. Additionally, his responsibility includes also decision-making bodies of Santander Bank Polska. Apart from the local responsibilities, Maciej is also the member of Global Debt Financing’s leadership team.
Since the beginning of his career, Maciej has been helping clients in financing of strategic and transformational transactions across different banking and capital markets solutions.
His team is responsible for arranging and executing transactions in the area of project finance, syndicated loans, acquisition finance, LBOs, bonds and eurobonds, debt and ESG advisory for Santander’s clients in Poland.
In recent years, Maciej’s team focused on supporting clients and Polish economy into sustainable and renewable energy direction. Santander arranged number of ESG-linked syndicated loans and bonds and green bonds, and finances almost 3.0 GW of renewable energy projects (onshore and offshore), what has allowed Santander to become the top player in project finance, debt capital markets and advisory in Poland.
Maciej is also the strong believer in innovation and introduction of new solutions for clients like securitization, digital and blockchain solutions or growth financing.
Maciej’s career spans more than 25 years in top Polish and global financial institutions, including ABN AMRO, Sumitomo Mitsui Banking Corporation, Bank BPH (HVB Group), Bank Pekao (UniCredit Group) and Bank Handlowy, which has enabled him to influence the shape of the Polish financial market and being recognized as reputable professional.
Stephen Boyer is a technology entrepreneur and executive, currently serving as the Chief Innovation Officer at BitSight. Stephen ensures an aligned vision between industry challenges and platform offerings, enabling organizations to create trust in the digital economy. He is a frequent speaker for security, risk, and insurance topics. He co-founded BitSight in 2011.
Leroy Terrelonge is a Vice President – Senior Analyst in the Moody's Ratings Cyber Risk Group, where he is responsible for creating and executing a cyber-risk analytics and research agenda. He works collaboratively with stakeholders across Moody’s to build cyber datasets and publish timely and relevant research on cyber risk and its impact on financial performance.
Leroy has more than 20 years of risk experience working in government, international education, tech startups and corporates. Prior to joining Moody’s, Leroy led a team of analysts at Flashpoint, a threat intelligence company that researches cyber criminal communities, and previously worked as an analyst at the National Security Agency.
He has been cited in both domestic and international media on cyber risk issues and has presented at cybersecurity conferences around the world. Leroy graduated from the Fletcher School of Law and Diplomacy with a Masters in International Business and holds an A.B. in Near Eastern Languages and Civilizations cum laude from Harvard University. He also served as a Princeton-in-Asia fellow in Almaty, Kazakhstan.
David Aldrich is Managing Director of the EMEA Commercial Group, with responsibility for all Moody’s customer relationships in EMEA, across both Developed and Emerging Markets, for Fundamental and Structured Finance.
David is also Managing Director for relationships with Global Sovereign and Multilateral Development Banks, and previously was Head of Emerging-EMEA for Regional Management. Prior to joining Moody’s in 2013, David managed various fixed income, derivatives and securities services businesses at UBS, Credit Suisse, JP Morgan and, latterly, BNY Mellon. At BNY Mellon, David was EMEA Business Executive for both Alternative Investment Services and Broker-Dealer Services, and was also Head of Securities Industry Banking, Europe within Global Client Management.
David studied Economics at the University of Kent and is on the MBA Advisory Board at Bayes Business School, City, University of London.
Piotr Janczak serves as the Moody’s Ratings' Country Manager, Poland. Based in Warsaw, he leads the rating agency’s operations in Poland and and coordinates the commercial activities of Moody’s across Central and Eastern Europe (CEE) and Commonwealth of Independent States (CIS).
Mr. Janczak graduated from the Foreign Trade Faculty of the Warsaw School of Economics. He has more than 25 years’ experience in equity as well as debt capital markets and loans across CEE. He joined Moody’s Investors Service in 2015 from Erste Group Bank AG, where he had been a director at the Merchant Banking division, based in Prague and covering CEE. Prior to that, Mr. Janczak served as a Director of Capital Markets at Deutsche Bank group in Warsaw.
He has been dealing with macroeconomic research and forecasting for 25 years. Since 2016 head of Economic Research Department and Chief Economist at PKO Bank Polski. Vast experience at international financial institutions: chief economist for Poland at Nordea Markets, head of research team at Raiffeisen Bank Poland and senior economist at Santander Bank Poland. Expert at one of leading economic think-tanks in Poland, the Center for Social and Economic Research (CASE), with participation in scientific and advisory projects abroad. Warsaw University graduate. Participated in many trainings covering econometric modelling, forecasting and mathematical methods in financial markets (e.g. Swiss Finance Institute and Cambridge Econometrics). Co-author of a few economic books and numerous articles on economy and financial markets. Regularly awarded for accuracy of economic forecasts (Consensus Economics, Focus Economics, Forbes, Parkiet, Rzeczpospolita), including three titles of the Economist of the Year from a major Polish economic and financial newspaper Parkiet for the most accurate macroeconomic and financial market forecasts for Poland during the last four years.
Maciej is the member of leadership team of Corporate & Investment Banking in Poland and participates in shaping and executing strategy of the division in Poland. Additionally, his responsibility includes also decision-making bodies of Santander Bank Polska. Apart from the local responsibilities, Maciej is also the member of Global Debt Financing’s leadership team.
Since the beginning of his career, Maciej has been helping clients in financing of strategic and transformational transactions across different banking and capital markets solutions.
His team is responsible for arranging and executing transactions in the area of project finance, syndicated loans, acquisition finance, LBOs, bonds and eurobonds, debt and ESG advisory for Santander’s clients in Poland.
In recent years, Maciej’s team focused on supporting clients and Polish economy into sustainable and renewable energy direction. Santander arranged number of ESG-linked syndicated loans and bonds and green bonds, and finances almost 3.0 GW of renewable energy projects (onshore and offshore), what has allowed Santander to become the top player in project finance, debt capital markets and advisory in Poland.
Maciej is also the strong believer in innovation and introduction of new solutions for clients like securitization, digital and blockchain solutions or growth financing.
Maciej’s career spans more than 25 years in top Polish and global financial institutions, including ABN AMRO, Sumitomo Mitsui Banking Corporation, Bank BPH (HVB Group), Bank Pekao (UniCredit Group) and Bank Handlowy, which has enabled him to influence the shape of the Polish financial market and being recognized as reputable professional.
In his professional career, he has gathered more than 25 years’ of comprehensive experience from companies at various stages of development, within banking and financial market institutions, Green Energy, and Real Estate. During his business career he has been associated with PKO Bank Polski, supervising the areas of financial risk planning and control, as well as the area of risk and debt collection from 2008 to 2011 and since March 2024 as a Vice President of the Management Board responsible for Finance and Accounting.
In 2012 the President of the National Bank of Poland awarded him for services to the banking sector of the Republic of Poland.
His core field of interest are banking energy transformation. He is the Head of the Committee for Hydrogen Technologies and Energy Storage of the Polish New Mobility Association.
In 1998, he completed an internship at the Depository Trust Company in (New York), and a course for candidates for investment advisors and Chartered Financial Analyst (CFA). He passed the EFPA ESG Advisor certification exam in 2023.
He graduated from the Warsaw School of Economics in finance and banking. He also completed postgraduate studies in philosophy at Collegium Civitas as well as:
• Erasmus University Rotterdam - Principles of Sustainable Finance under the guidance of the esteemed Professor Dirk Schoenmaker
• University of Pennsylvania - ESG Risks and Opportunities
• Wharton School - Global Trends for Business and Society
He is husband to Łucja and a father to two daughters, Nina and Gaia. He actively practices triathlon and supports the development of this sport as a board member of the TRICLUB ASSOCIATION. He is also involved in the development of education as a member of the management board of a private secondary school and a member of the EFPA Foundation Council, where he promotes high ethical and professional standards in the financial consulting segment.
Mr Jeziolowicz also represents the Polish banking sector in of the European Banking Federation. As part of the Federation, he takes part in the work of the Retail Banking Committee, Secondary Markets Working Group and several working groups on financial markets and sustainable financing.
From July 2013, he was a member of the Council for WIBID and WIBOR Reference Rates at ACI Polska. And after the change of administrator, since 2016 he is a member of the Oversight Committee of Reference Interest Rates at GPW Benchmark SA.
Since June 2013, he has been a member of the KDPW_CCP Risk Committee (Chairman in 2013-2020, and Deputy Chairman from 2020).
Stephen Boyer is a technology entrepreneur and executive, currently serving as the Chief Innovation Officer at BitSight. Stephen ensures an aligned vision between industry challenges and platform offerings, enabling organizations to create trust in the digital economy. He is a frequent speaker for security, risk, and insurance topics. He co-founded BitSight in 2011.
David Aldrich is Managing Director of the EMEA Commercial Group, with responsibility for all Moody’s customer relationships in EMEA, across both Developed and Emerging Markets, for Fundamental and Structured Finance.
David is also Managing Director for relationships with Global Sovereign and Multilateral Development Banks, and previously was Head of Emerging-EMEA for Regional Management. Prior to joining Moody’s in 2013, David managed various fixed income, derivatives and securities services businesses at UBS, Credit Suisse, JP Morgan and, latterly, BNY Mellon. At BNY Mellon, David was EMEA Business Executive for both Alternative Investment Services and Broker-Dealer Services, and was also Head of Securities Industry Banking, Europe within Global Client Management.
David studied Economics at the University of Kent and is on the MBA Advisory Board at Bayes Business School, City, University of London.
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.
Piotr Janczak serves as the Moody’s Ratings' Country Manager, Poland. Based in Warsaw, he leads the rating agency’s operations in Poland and and coordinates the commercial activities of Moody’s across Central and Eastern Europe (CEE) and Commonwealth of Independent States (CIS).
Mr. Janczak graduated from the Foreign Trade Faculty of the Warsaw School of Economics. He has more than 25 years’ experience in equity as well as debt capital markets and loans across CEE. He joined Moody’s Investors Service in 2015 from Erste Group Bank AG, where he had been a director at the Merchant Banking division, based in Prague and covering CEE. Prior to that, Mr. Janczak served as a Director of Capital Markets at Deutsche Bank group in Warsaw.
Steffen Dyck is a Senior Vice President in Moody’s Sovereign Risk Group.
Based in Frankfurt, he is the lead analyst for a portfolio of European sovereigns and multilateral institutions.
Up until early 2018, Steffen was the lead analyst for number of sovereigns and multilaterals in the Middle East, including Egypt and most of the Gulf Cooperation Council members.
Before relocating to Frankfurt in June 2015, Steffen was based in Moody’s Singapore office, where he covered sovereigns in the Asia-Pacific region as well as in the Middle East.
Prior to joining Moody’s in 2012, Steffen worked for more than six years with Deutsche Bank’s Risk Analysis team in Frankfurt and Singapore, covering macroeconomic and sovereign risk analysis across Asia (ex-Japan), Latin America, and Sub-Saharan Africa. He also helped manage the bank’s sovereign rating processes.
Vincent Allilaire is a VP-Senior Credit Officer in the ESG (Environment, Social and Governance) team within Moody’s Ratings, focusing on the credit implications of the transition to low-carbon operations across sectors, and more broadly on integrating ESG risks within our credit analysis. This role draws on Vincent’s dual experience as an ESG and Credit analyst, having previously led the Moody’s Analytics team focused on Sustainability Ratings, as well as having assessed and invested into carbon transition assets.
Vincent joined in 2017 from Legal & General Investment Management (LGIM), where he was leading the credit team focusing on illiquid, unrated debt investments, including assigning internal ratings across a wide range of structures and sectors. Prior to joining LGIM, Vincent worked for MetLife in an investment role focusing on infrastructure debt in Europe. Prior to that, he spent 10 years at Standard & Poor’s as an analyst covering corporates , then project finance credits. His first credit role was at Deutsche Bank.
Vincent is a dual French-British national, and holds a Master’s degree in Finance from the University of Southampton, having previously graduated in Economics and Political Sciences from the French Institute of Political Sciences in Bordeaux, where he originates from.
Pepa Mori is a Senior Vice President in the Financial Institutions Group. She joined Moody’s in 2008 as part of the Iberian team. Since then she has managed a wide portfolio of issuers, currently covering banks in Italy and Spain. She also has oversight responsibilities for Moody’s banks ratings in Central Eastern Europe.
Prior to joining Moody’s, Ms. Mori worked as a credit analyst in a variety of roles. These include credit research at BBVA, rating European sub-sovereigns and public sector companies at Standard & Poor’s; and financial analysis at BBVA’s asset management division. Ms. Mori holds a Bachelor Degree in Business Administration and MSc in Finance from Colegio Universitario de Estudios Financieros (CUNEF), Madrid (Spain).
Melina Skouridou is a Vice President- Senior Analyst and lead analyst for EMEA financial institutions, with a focus in Central and South Eastern Europe. In this role, she currently provides ratings analysis for a portfolio of banks in Poland, Hungary, and Slovenia. Prior to that she covered Norwegian and Cypriot banks, as well as financial institutions in Egypt, Israel, Romania and Bulgaria. This included large private, public, and state affiliated banks; small and mid-sized commercial lenders, and government-related institutions.
Melina joined Moody’s Limassol office in 2006, and started her Moody’s tenure covering financial institutions operating in the Gulf Cooperation Council. Prior to joining Moody’s, she worked as analyst for a local investment management firm conducting analysis for various securities and participating in the investment decision process.
Melina has an MSc Financial Mathematics from King’s College, University of London and a BSc Mathematics from the same school. She earned her CFA designation in 2009.
Sebastien is part of the EMEA Corporate Finance Group based in Poland. His current portfolio focuses on oil and chemical companies. Until 2022, Sebastien was based in London covering European telecommunications and media issuers and prior to that was responsible for a portfolio of mainly European high yield issuers operating in industries including payment solutions, business and consumer services, equipment and transportation rental services, and retail.
Prior to re-joining Moody’s in 2011, Sebastien was an analyst within the credit team at LGT Capital Partners (fund of hedge funds based in Switzerland), where he monitored a portfolio of investments in distressed credit/special situations hedge funds.
Knut Slatten is a Vice President – Senior Credit Officer at Moody’s working in the Moody's EMEA Project and Infrastructure Finance team. He currently covers a portfolio of companies that essentially comprises unregulated European utilities names. In his capacity as lead analyst, Knut has written numerous research publications and has spoken at several conferences. Prior to joining the Infrastructure Finance team, Knut spent 13 years in corporate finance at Moody's has covered a wide range of different industries, including pharmaceuticals.
Moody’s has a leading global Infrastructure Finance franchise, rating some US$2 trillion of corporate and project finance securities, representing more than 90% of all public bonds issued globally in the sector. 180 analytical sector staff cover more than 1,700 infrastructure issuers globally. Moody’s EMEA team of 46 specialists is responsible for rating around 430 issuers. The rating agency covers more than39,000 issuers and transactions. He joined Moody’s in 2007. Prior to joining Moody’s, Knut worked as a credit analyst for Société Générale in Paris, covering oil and gas companies. Knut holds an MSc. (Econ.) degree from the Norwegian School of Economics and business Administration.
Luis Romaguera is an Assistant Vice President – Analyst in Moody´s Covered Bonds team, and is based in the Madrid office. He has Lead Analyst responsibilities for covered bond programmes issued in Iberia and several markets in Central and Eastern Europe.
Luis joined Moody’s from Fitch Ratings, where he held different lead analyst roles across Madrid and London in the European Structured Finance team. Luis holds a Degree in Economics from the University of Greenwich in London.
Leroy Terrelonge is a Vice President – Senior Analyst in the Moody's Ratings Cyber Risk Group, where he is responsible for creating and executing a cyber-risk analytics and research agenda. He works collaboratively with stakeholders across Moody’s to build cyber datasets and publish timely and relevant research on cyber risk and its impact on financial performance.
Leroy has more than 20 years of risk experience working in government, international education, tech startups and corporates. Prior to joining Moody’s, Leroy led a team of analysts at Flashpoint, a threat intelligence company that researches cyber criminal communities, and previously worked as an analyst at the National Security Agency.
He has been cited in both domestic and international media on cyber risk issues and has presented at cybersecurity conferences around the world. Leroy graduated from the Fletcher School of Law and Diplomacy with a Masters in International Business and holds an A.B. in Near Eastern Languages and Civilizations cum laude from Harvard University. He also served as a Princeton-in-Asia fellow in Almaty, Kazakhstan.