Atsi Sheth is Chief Credit Officer and Head of Credit Strategy & Standards at Moody's Ratings.

Prior to her appointment in 2024, she held several leadership roles at Moody's, including Managing Director and Global Head of Credit Strategy and Research from 2021 to 2024.

She also served as Managing Director, Chief Credit Officer for the Americas from 2018 to 2021, and Managing Director, Sovereign Risk Group from 2016 to 2018.

Atsi is a long-time champion of Moody's Community Impact and Inclusion initiatives. She serves on the Board of Moody's Foundation and was the Executive Sponsor of the Pan Asian Impact Business Resource Group.

Earlier in her career, Atsi was the Chief Economist at Reliance Capital and taught courses on International Political Economy and Emerging Markets at Columbia University and Northwestern University.

Atsi has a PhD from Northwestern University and a B.A. from Bombay University.

Mark Zandi is chief economist of Moody’s Analytics, where he directs economic research. Moody’s Analytics, a subsidiary of Moody’s Corp., is a leading provider of economic research, data and analytical tools. Dr. Zandi cofounded Economy.com, which Moody’s purchased in 2005.

Dr. Zandi is on the board of directors of MGIC, the nation’s largest private mortgage insurance company, is the lead director of PolicyMap, a data visualization and analytics company used by policymakers and commercial businesses, and is a director of the Coleridge Initiative, a nonprofit that facilitates the exchange of data across governments.

He is a trusted adviser to policymakers and an influential source of economic analysis for businesses, journalists and the public. Dr. Zandi frequently testifies before Congress and conducts regular briefings on the economy for corporate boards, trade associations and policymakers at all levels. 

Dr. Zandi is the author of Paying the Price: Ending the Great Recession and Beginning a New American Century, which assesses the monetary and fiscal policy response to the Great Recession. His other book, Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis, is described by The New York Times as the “clearest guide” to the financial crisis. Dr. Zandi is host of the Inside Economics podcast.
Dr. Zandi earned his BS from the Wharton School at the University of Pennsylvania and his PhD at the University of Pennsylvania.

Ning Loh is Managing Director and Head of Credit Strategy at Moody’s Ratings, based in Hong Kong. In this role, he is responsible for defining, articulating and promoting Moody’s global house views on credit drivers, macroeconomic forecasts, financial markets and emerging markets dynamics. Concurrently, he is also Chief Credit Officer for APAC and works with rating groups throughout the region to develop Moody’s perspectives and research regarding macroeconomic, policy, and thematic trends that affect credit risk.

Since joining Moody’s in London in 2005, Ning has held roles across various markets and rating groups in Europe, Asia, and the US. In 2015, he moved to Hong Kong to lead the structured finance new ratings franchise for South and Southeast Asia. In 2018, Ning led the U.S. Corporate Asset-Backed Securities (ABS) team. He later returned to Hong Kong to head the North Asia (excluding Japan) team in the Project & Infrastructure Finance Group before taking on his current position.

Before joining Moody’s, Ning practiced law in London, specialising in structured finance and debt capital markets. Ning holds a Master's in Civil Engineering from Imperial College London and is a Solicitor of the Senior Courts of England and Wales.

Annabel Schaafsma is a Managing Director and Global Head of the Structured Finance Group within Ratings and Research. She is responsible for a global team that both assign primary ratings as well as the surveillance of existing ratings covering all asset types including Asset Backed Securities, Corporate and Residential Mortgage Backed Securities, Structured Credit and Covered Bonds.

Annabel has many years of experience in credit analysis, as well as managing credit professionals. Annabel first joined Moody’s in 2001 in the Structured Finance Group where she went onto leading teams assigning Primary ratings to Residential Mortgage Backed securities and the surveillance of Consumer Asset Backed Securities in EMEA. Prior to her current role she worked in Credit Strategy and Standards Group responsible for the Methodology Development Group. Prior to joining Moody’s Annabel worked for Credit Suisse in the Credit Risk Management department in various roles in London and New York. In 2006 Annabel joined Standard Chartered Bank as Head of Credit Research for the Structured Credit Investment team that invested in structured finance instruments. Before re-joining Moody’s in 2010, Annabel was head of Traded Credit Risk Management for Standard Chartered Bank in London responsible for the identification and analysis of credit risks within the firm’s trading business.

Annabel is passionate about diversity and inclusion; she is the executive sponsor of the Moody’s UK Women’s Business Resource Group. Annabel holds an undergraduate degree in Economics focused in finance and accountancy from Manchester University

Antonello Aquino is Managing Director, global co-head for Insurance, Funds and Asset Management, and EMEA Private Credit at Moody’s Ratings. He leads Moody’s analytical team responsible for maintaining credit ratings on insurers, funds, and asset managers in EMEA and North America, as well as private credit entities.

Antonello joined Moody’s in 2008 as a Senior Insurance Analyst, covering major European (re)insurers. Prior to Moody’s, he led the Financial Institutions Group (FIG) rating advisory practice at Credit Suisse in Europe. His earlier experience includes roles as a Senior Analyst in Standard & Poor’s insurance sector, and positions within the FIG M&A teams at Dresdner Kleinwort Wasserstein (DrKW) and ABN AMRO.

He holds an MBA from HEC Paris and is an alumnus of London Business School. He graduated cum laude in Business Administration from Bocconi University in Italy. Antonello is fluent in English, Italian, and French.

Donald Robertson is a Managing Director & Global Co-Head of Banking, based in New York. In this role, he oversees the North American analytical teams covering banks, finance companies and securities firms. As a senior leader in Moody’s Ratings’ Financial Institutions Group, his focus is on leading the North American banking franchise, deepening analytical approaches and engagement, and adapting processes, tools and work flows to address rapid digitalization.

Previously, Donald was a lead analyst for global investment banks, securities firms and market infrastructure firms. In this role he had direct responsibility for the ratings of a number of US and European banks, exchange operators, electronic market makers and clearing houses. Donald was the lead author of Moody’s rating methodologies for Securities Industry Market Makers and Securities Industry Service Providers and played an integral role in their development and implementation.

Donald joined Moody’s in 2007 as an accounting specialist. In this role, he developed and authored Moody’s cross-sector rating methodology for Financial Statement Adjustments in the Analysis of Financial Institutions and helped develop and implement Moody’s system for spreading, adjusting and analyzing banks’ financial reporting.

Prior to joining Moody’s Ratings, Donald was a Director of Financial Audit at Siemens Corporation, responsible for leading a team conducting IFRS and US GAAP audits in the Americas’ region. Donald started his career at PwC in Glasgow, UK and thereafter transferred to PwC’s New York Metro region where he was an audit manager with a client base in the pharmaceutical industry.

Donald is a CA and CPA (inactive) and holds an undergraduate degree from the University of Glasgow.

Fabian Astic serves on Moody’s Ratings’ Senior Leadership Team as Managing Director, Global Head of Digital Economy, and Chair of the AI Oversight Working Group. He leads the rating agency’s preparedness efforts related to the digitalization of the global economy, including Digital Finance, AI Analytics, and Cyber Credit Risk.

Fabian is a recognized expert in traditional and digital finance, often contributing to industry events and conferences. He serves on the Digital Asset Markets Subcommittee of the U.S. Commodity Futures Trading Commission’s Global Markets Advisory Committee, and on the board of QuantCubeTechnology, an AI-powered predictive analytics company.

Prior to his current role, Fabian led quantitative analytics and innovation for the rating agency. He joined Moody’s in 2006 and had various roles in the Credit Strategy & Standards and Structured Finance groups.

Fabian’s academic credentials include a Ph.D. in Applied Mathematics with a focus on Mathematical Finance, and a Master’s Degree in Mathematics Applied to Economic Sciences from Université Paris Dauphine. He also holds a Master’s Degree in Science and Executive Engineering from the Ecole des Mines de Paris, where he specialized in Quantitative Finance.

Jessica Gladstone is Managing Director – Ratings & Process Oversight to lead the RPO teams covering global CFG, PIFG and ESG. Prior to her currently role, she was Associate Managing Director, responsible for managing the aerospace, defense and manufacturing team. Previously, she managed the Healthcare and Pharmaceuticals team, both within the Corporate Finance Group. Prior to becoming a manager, Jessica was a senior analyst covering companies across the healthcare sector, including hospitals, pharmaceuticals and healthcare services providers. 

Before joining Moody’s in 2006, Jessica worked in the investment banking group of BMO Capital Markets performing sell-side equity research on the medical device sector. Prior to that, Jessica worked at McKinsey & Co. in the Corporate Finance Group, providing valuation analysis and management consulting services to corporate clients.

Jessica graduated with honors from Vassar College with a dual degree in Biology and French. She is also a designated CFA charter-holder

Marc Pinto is the Global Head of Private Credit. In this role, he coordinates across the financial institutions, corporate, structured, and public and infrastructure finance rating groups to provide thought leadership, and ratings oversight in growth areas of the private credit market, including fund finance, private asset-backed securities, and privately placed investment-grade corporate assets. For over a decade, Marc has held a series of leadership roles of increasing scope and responsibility at Moody’s, including Global Co-Head of Insurance and Global Head of Funds & Asset Management.

Marc is deeply committed to educational and empowerment initiatives, acting as an Executive Sponsor for Moody's CFA and Global Administrative Professionals Networks, a Mentor Advisor in the Women’s Business Resource Group, and a frequent participant in career development seminars.

Marc’s extensive career in the fixed income credit markets, in New York and London, has included leadership roles at sell-side and buy-side firms including Merrill Lynch, Keefe Bruyette & Woods, and Susquehanna International. At Merrill Lynch, Marc was also a top-ranked financial institutions analyst.

Marc is a Chartered Financial Analyst and an alumnus of Columbia Business School and Trinity College (Connecticut).

Paloma San Valentin is Head of the Corporate Finance Group (CFG) in North America for Moody’s Ratings, based in New York, overseeing the development of rating opinions and research on corporates in the region. Paloma previously served as Co-Head for US and Americas CFG. From 2010 to 2014, she was a Managing Director in CFG in London, where she was in charge of the analytical teams covering a diverse portfolio of mostly consumer-facing industries including telecom, media, airlines, food processors, real estate, packaged goods, or business services. Paloma joined Moody’s in the summer of 2008, bringing 15 years of international corporate credit and banking experience. Prior to joining Moody’s, Paloma was Country Credit Risk Officer for Bank of America in Spain and responsible for the bank’s Iberian corporate credit portfolio and French general industrial clients. During her career, Paloma also spent three years at Credit Suisse, in different credit risk and investment banking capacities. Ms. San Valentin holds an MBA from Instituto de Estudios Superiores de la Empresa (IESE), Barcelona, Spain, and a BA in Business and Economics from the Free University of Brussels, Belgium.

Rahul Ghosh is Managing Director – Global Head of Sustainable Finance for Moody's Ratings.

Rahul leads global oversight for the credit rating agency’s environmental, social and governance (ESG) research and outreach strategy. In this capacity, he is responsible for co-ordinating high quality and impactful research exploring the credit implications of ESG, as well as digital and in-person outreach to meet the growing market needs of investors, issuers and other important stakeholders.

Rahul is a regular participant at high-profile industry working groups, market briefings, external conferences and media engagements. He is a member of the Taskforce on Nature-related Financial Disclosures, a market-led initiative to develop a risk management and disclosure framework for nature-related risks. He has also represented Moody’s on the UN Principles for Responsible Investment's advisory committee on credit ratings and the Green and Social Bond Principles working groups. He has presented on the impact of climate change on emerging market sovereigns at the G20 Green Finance Study Group and on sustainable finance trends at the International Finance Corporation’s Global Debt Mobilization Conference.

Before his current role, Rahul oversaw Moody’s ESG Solutions Group outreach and engagement activities globally with the sustainability stakeholder community. He also previously worked in Moody’s Credit Strategy & Research team where he was responsible for thematic research and outreach on global emerging market (EM) credit trends. Prior to joining Moody’s in 2013, Rahul was the Head of Asia at BMI Research (Fitch Solutions) in Singapore, leading a team of macroeconomists and industry specialists in analysing sovereign risk, sector performance and the capital markets.

Rahul is a passionate impact leader for Moody’s corporate social responsibility (CSR) initiatives in London, chairing the pillar on “activating an environmentally sustainable future”. He holds a Masters degree in Economics from the University of Edinburgh and a Certificate in ESG Investing from the CFA Society of the UK.

Stephen is a Managing Director and Global Co-Head of banking. He is co-responsible for global bank ratings and is based in London where he primarily focuses on banks in Europe, the Middle East and Africa (EMEA).

From 2022-2025 he was the Managing Director and Regional Head of EMEA, Stephen also served as the Country Manager for the United Kingdom for Moody’s Ratings. He was responsible for core business strategy, governance and oversight in the EMEA region.

Before relocating to London, Stephen held the position as Global Co-Head of Banking from 2010 to 2022, based in Hong Kong. In this role, he was responsible for global bank ratings with a primary focus on banks across the Asia-Pacific region.

Prior to joining Moody’s, Stephen worked at J.P. Morgan in London, Tokyo and Hong Kong in various senior credit, research and rating advisory positions. From 1990-1996 he was a bank analyst at S&P Global in London and Paris.

Stephen began his career as a banking regulator at the Bank of England. He is a graduate of the University of Oxford, where he studied Philosophy, Politics and Economics.

Yasmina Serghini is a Managing Director in Moody’s Rating's Corporate Finance Group. She manages the teams in Madrid, Milan and Paris that are responsible for investment grade and high yield companies primarily in the TMT, retail, pharmaceutical, healthcare, food, packaged goods, railways and postal services industries.

Since joining Moody’s in 2005, Yasmina has been in charge of the credit ratings of automotive and truck manufacturers, retail, consumer packaged goods companies, including beverages and business services companies. Prior to joining Moody’s, Yasmina worked for Caisse Nationale des Caisses d’Epargne as a credit risk analyst where she had responsibilities for the analysis of companies mainly in the airlines, telecoms and real estate industries as well as aircraft and shipping financings. Yasmina is a CFA charterholder. 

She holds a Postgraduate Diploma (“DESS”) in Finance from Institut d’Etudes Politiques de Paris and has a university degree (majoring in Finance) from Dauphine University (Paris). She is fluent in English, French and Moroccan.

Michelangelo Margaria is an Associate Managing Director with Moody’s Structured Finance Group and is based in the Milan office. 

He co-leads the Consumer Securitisation team in the EMEA region and coordinates the Structured Finance activity in the Italian market. Previously, he co-led the EMEA RMBS team and was a senior analyst rating securitization transactions backed by different asset classes in various EMEA jurisdictions.

Michelangelo Margaria also serves as Moody’s Ratings Country Manager for Italy, overseeing Moody's Ratings activities in the country. Before joining Moody’s in 2002, Michelangelo worked in the Structured Credit Group at UBS in London. Mr. Margaria graduated in engineering from the Polytechnic of Turin.

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.