Jacob Funk Kirkegaard is a Senior Fellow at Bruegel. He specialises in international economics, defence industrial policy, demographics, immigration, labour markets and foreign direct investment.

He covers primary economic research on structural reform issues, European rearmament and defence, pensions, immigration, European economies and services trade.

He speaks English, German and Danish.

Jacob is also a Non-resident Senior Fellow with the Peterson Institute for International Economics (PIIE), and Head of European research with 22V Research in New York. Previously, he was a Senior Fellow with the Brussels office of the German Marshall Fund of the United States (GMF). He has also worked with the Danish Ministry of Defence, NATO, the United Nations in Iraq, and in the private financial sector. He holds a PhD from Johns Hopkins University, School of Advanced International Studies. 

Michael Bradley serves as Vice President and Head of Treasury at Genmab A/S, where he leads the company’s global treasury operations and capital markets financing strategy. Since joining Genmab in September 2020, he has played a pivotal role in shaping the company’s funding framework and financial flexibility in support of its ambitious growth agenda.

Prior to Genmab, Michael gained deep corporate treasury and finance expertise through leadership roles at Bristol‑Myers Squibb and Celgene Corporation, in addition to earlier assignments at Merck & Co. in foreign exchange, international tax and financial evaluation.

Most recently, Michael coordinated a $5.5 billion debt issuance to support Genmab’s proposed acquisition of Merus N.V.

Michael holds an MBA from the Darden School of Business at the University of Virginia and a B.B.A. in Accounting from William & Mary.

David is Head of Investments at the Danish credit boutique Accunia Credit Management. He has more than 12 years of experience investing across credit markets, with a particular focus on CLOs (EUR and US), credit-linked notes, SRTs and high-yield bonds.

Prior to his current role, David was a Senior Portfolio Manager at PensionDanmark (2018–2022) and previously a Portfolio manager at Accunia Credit Management (2014–2018). Earlier in his career, he worked as an economist at Danmarks Nationalbank (2008–2014) and as an assistant analyst in the macro research team at Danske Banks Danske Market (2005–2008).

David holds a master’s degree in economics from the University of Copenhagen and is a CFA Certificate holder in ESG Investing.

Martin originally joined Capital Four in 2015, where he led our first private debt transactions. In 2017, he left to join the M&A advisory team at Handelsbanken. Earlier in his career, Martin worked in investment banking at Danske Bank from 2004, and has also held positions at private equity firms with a focus on the Nordic region.

Martin rejoined Capital Four in September 2025 to oversee private debt credit analysis and coverage of portfolio names.

Martin holds an MSc in Finance and Accounting from Copenhagen Business School.

Igor Baranovski is the Chief Portfolio Manager in the Alternative Investments team at PenSam, a Danish pension fund managing approximately DKK 200 bn in assets across various asset classes. In this role, he is responsible for credit investments and portfolio construction across the credit spectrum, overseeing the entire investment process—from sourcing and structuring to executing both fund and direct investments, as well as manager selection. With over a decade of experience in investment management, including senior positions at PenSam and TDC Pensionskasse, Igor brings extensive expertise in alternative credit strategies. He holds a Master's degree in Business Administration and Management Science from Copenhagen Business School, where he specialized in quantitative finance.

Linus Silfverduk is Associate Managing Director –Head of Relationship Management for the Nordic region as well as Germany, Austria and Switzerland. Moody's Ratings maintains approximately 500 existing rating relationships across the region from various sectors such as corporates, financials, sovereign, sub-sovereign, and infrastructure. The coverage teams, based out of Stockholm, Frankfurt and Zurich, are responsible for account management, business development and engagement with local rating advisers and other intermediaries.

Linus is also Moody’s Ratings Country Manager for Sweden and Director of the Nordic subsidiary, Moody’s Investors Service (Nordics AB). He is Executive Sponsor for the Nordic Inclusion Group.

Prior to joining Moody’s in early 2017, Linus worked ten years for Nordea Bank, from 2010 in the Corporate & Investment Banking division, covering a portfolio of Swedish global manufacturing companies. Linus has a master’s degree in Business Administration from Stockholm School of Economics.

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 including Italy and, until recently, Germany.

Steffen is also co-heading the Sovereign group’s ESG work.

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.

Daniel Harlid is a Vice President - Senior Credit Officer in the EMEA Corporate Finance Group based in Stockholm, Sweden. He is responsible for a portfolio of investment grade and sub-investment grade companies within the European container shipping sector as well as in the logistics industry. Additionally, he covers investment grade issuers in the Nordic manufacturing sector.  Daniel joined Moody’s in 2017. Prior to this, he was a portfolio manager at Cicero Fonder managing funds with both investment grade and high yield mandates. Daniel started his career as an equity analyst for Handelsbanken Capital Markets.

Based in Paris he manages a portfolio of investment grade and high-yield companies with expertise in pharmaceuticals, healthcare, retail, and transportation sectors.

Francesco is also a key contributor to research and outreach on digital transformation in corporate finance, writing and speaking in conferences on generative AI and digital assets’ impacts on corporates.

Francesco joined Moody’s in 2011 in London in the infrastructure team, covering a portfolio of European utilities and limited recourse financings of energy and infrastructure assets, including conventional project finance transactions across EMEA.

Prior to joining Moody’s, Francesco worked at Mediobanca in Milan, in the project finance team.

Francesco holds a Bachelor degree in business administration from Bocconi University, Italy, and a Master of Science in international business from HEC, France.

Francesco is fluent in, Italian, English, French and Spanish.

Vittoria is a lead analyst in Moody’s Global Emerging Markets team, based in London. She is responsible for identifying and analysing macroeconomic, sovereign, and corporate thematic trends across a broad range of emerging market economies, and plays a key role in formulating and communicating Moody’s house views on emerging markets.

Prior to joining the Global Emerging Markets team, Vittoria was part of Moody’s EMEA team within Credit Strategy and Research, where she contributed to the analysis of European sovereign credit profiles.

Vittoria holds a Master’s degree in Economics from the University of Bologna, where she graduated with distinction, and a Bachelor’s degree in Economics and Finance from Utrecht University.

Guillaume Lucien-Baugas joined Moody’s in September 2007 and is based in Paris in the Financial Institutions Group where he has responsibilities for rating a number of banks in France and the Benelux. Prior to joining the Financial Institutions Group, he was part of the Structured Finance Group at Moody’s, rating CDO and CLO transactions. 

He started his career in asset management at Eiger Capital Limited in London, where he was a senior credit analyst in the fixed income markets.

Mr. Lucien-Baugas holds a masters degree in Finance and Management from Dauphine University (Paris IX) and a postgraduate certificate in Finance from ESCP Europe. He is a CFA Charterholder.

Niclas Boheman, based in Stockholm, serves as Moody’s lead analyst for large banks in the Nordics and also has responsibilities for UK Specialist Banks. His work includes a core focus on cyber risks affecting European banks, complemented by broader analysis of innovation and digitalisation trends within financial services.

Mr Boheman joined Moody’s in 2016, having previously held a number of roles at Svenska Handelsbanken, including as a bank analyst. 

He holds a Degree of Master of Science (One Year) in International Economics from the School of Economics and Management at Lund University.