Credit Trends 2025 - Switzerland
Global Forces, Local Impacts
Agenda
Registration & Networking
Investor outlook: What makes Switzerland a Competitive Economy in Credit Markets
- Expectations for the Swiss Franc bond market: Reflection on 2024, opportunities and risks for 2025
- Credit Quality of Swiss Corporates: How will Swiss Corporates fare in a geopolitically more volatile environment
- Swiss Banking System in a global and European landscape
Networking and Coffee Break
Networking Lunch
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Sandra Veseli is a Managing Director and Head of the EU for Moody’s Ratings, currently based in Frankfurt. She is also the Country Manager for Germany. Sandra is responsible for coordinating the strategic, operational and business engagement with internal and external stakeholders across the region.
Before joining the regional management team, Sandra was a Managing Director in the Corporate Finance Group in London, leading the UK corporate and the global leveraged finance franchise.
Sandra joined Moody’s in 2013, bringing 20 years of banking experience. Prior to Moody’s, Sandra worked at Credit Suisse, where she was the Head of Rating Advisory for EMEA since 2010, after holding senior positions in the rating advisory teams at Morgan Stanley and Citi.
Sandra began her career at Dresdner Bank in Germany.
Sandra holds a Diploma from the Frankfurt Business School of Finance & Management.
Sven Reinke is a Managing Director in Moody’s Corporate Finance Group. Sven is responsible for a team on London-based Lead Analysts covering Commodities, TMT and Business and Consumer Services sectors. Sven joined Moody’s in the autumn of 2013 with 12 years’ experience in a number of different corporate credit roles. During his first nine years at Moody’s, Sven was a Lead Analyst covering a number of different corporate sectors.
Prior to joining Moody’s, Sven spent six years as a Senior Corporate Credit Officer at UBS Investment Bank in London responsible for the credit risk management of a portfolio of corporates in different industries. Before joining UBS, Sven was the Lead Credit Analyst for Bank of Tokyo-Mitsubishi’s German and Benelux blue chip counterparties. At the start of his career, Sven spent four years as a Credit Analyst at Deutsche Bank’s German mid-cap credit risk department.
Sven has a Masters Degree in Economics with focus on finance and banking from The Berlin School of Economics and Law. Sven also passed all levels of the CFA Program.
Matthias is head of DCM Solutions at Zürcher Kantonalbank, where he is responsible for addressing clients' capital, secured financing, ESG and rating advisory needs.
He joined Zürcher Kantonalbank in 2017 and has over 17 years of experience in debt capital markets, including roles at Moody's and Credit Suisse in London. Matthias holds a master's degree in finance from the University of Zurich.
Michael Schmid is Head of Rule-Based and Index CHF Fixed Income at UBS Asset Management Switzerland AG. He is a member of the Fixed Income Investment Grade Forum. Prior to joining UBS in 2024, Michael was Head of Swiss Fixed Income at Credit Suisse Asset Management, a role he was appointed to in 2015.
Michael started his career as a Junior Portfolio Manager at Credit Suisse Asset Management in 1998, where he first was co-managing European high-yield bond portfolios, and, since 2005, has been managing crossover and investment-grade credit portfolios in various currencies. Before joining Credit Suisse Asset Management, he worked at PricewaterhouseCoopers (PwC) in Zurich for three years as a working student in audit and assurance services.
Michael graduated from the University of Zurich, specializing in Banking and Finance, and is an EFFAS Certified European Financial Analyst (CEFA).
Alexander Hendricks is an Associate Managing Director in Moody’s European Banking team. Alexander has responsibility for the analytical teams covering financial institutions in Germany, Austria and Switzerland. He joined Moody’s in 2013.
Prior to Moody’s, Alexander’s most recent role was Director in Company Research at Deutsche Bank, where he had responsibility for financial institutions in Germany and Austria, and co-responsibility for European investment banks. In addition, he acted as hub for European regulatory matters in research.
During his occupation at the German bank, Alexander also held responsibilities for real estate companies and stock exchanges in Germany. At previous employer ABN Amro, Alexander covered German and Austrian banks in equity research. He began his career as trainee at Deutsche Bank.
Alexander holds a Masters Degree in Business Administration (Diplom- Kaufmann) from University of Mannheim, with specialisation in Banking and Finance. He is a CFA charterholder.
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.
Vincent Gusdorf is a Associate Managing Director in the DeFi and Digital Assets team (DFDA), leading Moody’s blockchain technology research. Before joining the DFDA team, Vincent worked for the Innovation and Data Science team, managing several machine learning projects and defining the innovation roadmap.
Vincent worked as a credit analyst for 16 years and covered investment grade and high-yield corporates. He also contributed to developing Moody’s cyber risk expertise in Europe. Before joining Moody’s, Vincent worked at Standard & Poor’s, Exane BNP Paribas, and Ernst and Young.
Vincent is a CFA charter holder and holds a Master of Finance from Sciences Po Paris and a Master of Law from Université Paris II Panthéon-Assas. He is a self-trained programmer and developed his blockchain and machine learning expertise by completing multiple online data science and cloud certifications. Vincent is also a Certified ScrumMaster and a PMI Agile Certified Practitioner (PMI-ACP).
Dr. iur. Anna-Naomi Bandi-Lang serves as an Executive Director in the Global Securities Trading team at UBS Investmentbank. With over a decade within the financial industry she initially contributed six years to different Legal departments setting the stage for her transition to Global Securities Trading at UBS Investment Bank.
In this role, Anna-Naomi has expanded her expertise to cover pivotal areas like Digital Assets, Tokenization, digital and traditional Capital Markets. As a capital markets lawyer and structurer, she has actively integrated blockchain setups in capital market solutions. Her vast experience with digital assets such as the tokenization of Structured Products or Bonds underscores her proficiency in the sector. Her knowledge in legal and regulatory matters coupled with deep insights into capital markets, supports UBS's strides in the digital finance arena.
Matthias is a thought leader in Web3 and a seasoned executive for technology scale-ups. Before joining Obligate, he successfully led the growth trajectory of an award-winning web3 company from 8 to 60 employees as a CEO. Previously, he served on the executive board of a prominent Swiss FinTech, where he led their international growth by scaling their B2B SaaS offering to global wealth managers.
Matthias began his career in London on the commodity trading floor of a Tier 1 investment bank as a derivatives structurer. He holds a Master’s degree in Financial Economics from the University of Oxford and a Master’s degree in Quantitative Finance from ETH Zurich.
Adriana Cruz Felix, Senior Vice President of Sustainable Finance. Adriana heads Moody’s Ratings sustainable finance analytical team for the EMEA region. This team is responsible for producing second-party opinions and net-zero assessments.
For more than a decade, Adriana has been engaged in the sustainable development sector, dedicating the last seven years to analyzing the potential environmental and social benefits of financial instruments. She is one of the main authors of Moody’s Ratings SPO assessment framework and serves as the Chair of Moody’s Ratings Sustainable Finance Analytical Council. Additionally, she actively participates in ICMA’s sustainable finance working groups and task forces. Her sectors of expertise are energy and transition, green buildings, biodiversity, and social projects.
Robert de Guigné is UBP’s Group Head of Sustainability. He joined in August 2022 from his previous position as Head of ESG Solutions at Lombard Odier Group, where he worked for 15 years.
Robert has worked for over 35 years in the asset management and wealth management industry in large organisations such as AXA, Credit Agricole, and State Street but also in smaller firms including Meeschaert. His roles have ranged from financial advisor and portfolio manager, to head of research and finally head of sustainability.
Robert is an engineer and holds an MBA. He is also a graduate of the French financial analyst program and is a certified actuary.
Philipp Näf is a sustainability leader and energy transition enthusiast, currently serving as Head of Sustainability at Axpo Group.
He drives Axpo's sustainability strategy, leads the Group's ESG reporting and ratings, and contributed to several sustainability-linked financing facilities. After building up expertise in management consulting Philipp initially joined Axpo's corporate strategy team and then transitioned to build up the green hydrogen business unit.
He holds a Bachelor's and Master's degree in business management from the Universtiy of St. Gallen and a CFA in ESG Investing.
Sandra Veseli is a Managing Director and Head of the EU for Moody’s Ratings, currently based in Frankfurt. She is also the Country Manager for Germany. Sandra is responsible for coordinating the strategic, operational and business engagement with internal and external stakeholders across the region.
Before joining the regional management team, Sandra was a Managing Director in the Corporate Finance Group in London, leading the UK corporate and the global leveraged finance franchise.
Sandra joined Moody’s in 2013, bringing 20 years of banking experience. Prior to Moody’s, Sandra worked at Credit Suisse, where she was the Head of Rating Advisory for EMEA since 2010, after holding senior positions in the rating advisory teams at Morgan Stanley and Citi.
Sandra began her career at Dresdner Bank in Germany.
Sandra holds a Diploma from the Frankfurt Business School of Finance & Management.