Credit Trends – Germany will explore Moody’s key 2024 credit themes and interpret what they mean for the region.
Agenda
09.00
CET
Registration & Breakfast
09.40
CET
Credit Conditions
Implications of Higher-for-Longer Rates and Sluggish Growth
- What is the outlook for economic growth in 2024 and beyond?
- When will monetary policy loosening begin, and how are interest rates likely to evolve?
- How do we expect debt burdens and interest costs to develop given the growth and interest-rate environment?
10.20
CET
Networking and Coffee Break
11.10
CET
12.00
CET
Close of the Event
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| Matthias Hellstern, Managing Director, has been with Moody’s Deutschland GmbH in Frankfurt since October 2004. Matthias is Team Leader in the European Corporate Finance Group heading the Frankfurt-based analytical team focusing on manufacturing industries. The principal industries covered by his team include Auto, Capital Goods, Paper and Packaging, and Building Materials. He is also managing teams in London and Stockholm that are covering the Real Estate, Shipping and Airlines sectors. Prior to his appointment as Team Leader, Matthias was Moody’s lead analyst for European building materials companies and steel producers. Previously he spent around 10 years in the European banking industry as a corporate credit analyst with Commerzbank and ING in Germany and the UK. Matthias Hellstern has graduated from the University of Augsburg in Germany with a degree in Business Administration (Diplom-Kaufmann). |
| Heiko Peters is a Vice President - Senior Analyst in Moody’s Sovereign Risk Group, and is based in the Frankfurt office. He has Lead Analyst responsibilities for a number of European sovereigns and supra-nationals, producing ratings and research related to their creditworthiness. Heiko joined Moody’s from Deutsche Bank AG, where he was Senior Economist - Vice President in the European Economics Team of Deutsche Bank Research for more than five years. He published research on economic and political topics, including global trade, labour markets, demographics and migration, and covered in particular the economies of Germany and Austria. Prior to that he had worked from 2009 to 2011 as an Economist for the German Council of Economic Experts in Wiesbaden, reporting to the Chair of the Council. Moreover, his professional background includes stints at the Deutsche Bundesbank (Visiting Researcher), Germany’s Monopolies Commission and the German Institute for Economic Research (DIW), both as a Visiting Fellow. He holds a PhD, a Master’s level diploma and a BSc in Economics from the University of Muenster. |
Jorge R. Valez is a Senior Vice President at Moody’s Sovereign Risk Group based in London. He serves as lead analyst for a portfolio of sovereigns and multilateral development banks in the EMEA region. He is also a global lead in analytical projects aimed at supporting rating accuracy and thought leadership across sovereign credit risks.
Jorge joined Moody’s in 2014 in the Financial Institutions Group. He also worked at Credit Strategy and Research leading the team responsible for banking projections and stress tests globally, as well as foundational research on ratings and capital markets.
Prior to joining Moody’s, Jorge worked for a bank as a macroeconomist responsible for forecasting and scenario analysis, and as a university lecturer in Macroeconomics and Econometrics.
Jorge is a PhD in Econometrics and holds degrees in Economics and in Business Administration.
Björn Griesbach is the lead Eurozone economist and Senior Investment Strategist at Allianz. With a background in portfolio management across various fixed income classes and experience as an economist at esteemed institutions such as the Swiss National Bank and the United Nations, Björn brings a wealth of expertise to his role. Prior to joining Allianz, Björn worked as a portfolio manager at Meag, the asset manager of Munich RE. Björn holds a Ph.D. in Economics from the University of St. Gallen and a degree in Computer Science from the Technical University of Munich. At Allianz Research, Björn contributes to the synthesis of top-tier research on countries, sectors, and capital markets, empowering Allianz clients with supreme insights for strategic decision-making.
Karen joined Moody's in 2004 in its New York office, where she worked as a corporate
credit analyst for over 10 years, primarily focused on leveraged finance, before
transferring to Moody's methodology development group. In that role she lead and
contributed to the development of methodologies across ratings groups and industry
sectors and established the group's presence in Europe with her move to Frankfurt in
February 2018. She returned to CFG as an Associate Managing Director in September
2021.
Prior to Moody’s, Karen worked at a high yield brokerdealer, at National Australia
Bank Limited, and in market research for Barron’s magazine. She also participated in a
volunteer service program in Kingston, Jamaica, for one year. Karen graduated magna
cum laude from The University of Notre Dame with a B.A. in English. She is a CFA
charterholder.
| Matthias Hellstern, Managing Director, has been with Moody’s Deutschland GmbH in Frankfurt since October 2004. Matthias is Team Leader in the European Corporate Finance Group heading the Frankfurt-based analytical team focusing on manufacturing industries. The principal industries covered by his team include Auto, Capital Goods, Paper and Packaging, and Building Materials. He is also managing teams in London and Stockholm that are covering the Real Estate, Shipping and Airlines sectors. Prior to his appointment as Team Leader, Matthias was Moody’s lead analyst for European building materials companies and steel producers. Previously he spent around 10 years in the European banking industry as a corporate credit analyst with Commerzbank and ING in Germany and the UK. Matthias Hellstern has graduated from the University of Augsburg in Germany with a degree in Business Administration (Diplom-Kaufmann). |
| Heiko Peters is a Vice President - Senior Analyst in Moody’s Sovereign Risk Group, and is based in the Frankfurt office. He has Lead Analyst responsibilities for a number of European sovereigns and supra-nationals, producing ratings and research related to their creditworthiness. Heiko joined Moody’s from Deutsche Bank AG, where he was Senior Economist - Vice President in the European Economics Team of Deutsche Bank Research for more than five years. He published research on economic and political topics, including global trade, labour markets, demographics and migration, and covered in particular the economies of Germany and Austria. Prior to that he had worked from 2009 to 2011 as an Economist for the German Council of Economic Experts in Wiesbaden, reporting to the Chair of the Council. Moreover, his professional background includes stints at the Deutsche Bundesbank (Visiting Researcher), Germany’s Monopolies Commission and the German Institute for Economic Research (DIW), both as a Visiting Fellow. He holds a PhD, a Master’s level diploma and a BSc in Economics from the University of Muenster. |
Mark Remshardt is a senior credit officer in the EMEA Infrastructure Finance Group, based in Frankfurt. He holds the responsibility for a portfolio of regulated networks and unregulated utilities in Germany and The Netherlands.
Moody’s has a leading global Infrastructure Finance franchise, rating some US$2.8 trillion of corporate and project finance securities. Our team of 148 analytical staff covers more than 2,700 public and private sector infrastructure issuers globally. Moody’s EMEA team of 48 infrastructure specialists is responsible for rating around 330 issuers with approximately US$756 billion in debt outstanding. Moody’s Investors Service covers a total of more than 35,000 issuers and structured finance transactions worldwide, representing more than US$73 trillion in rated debt.
Mark has considerable experience of assessing credit risk across a wide range of sectors, including utilities, oil & gas companies and large global industrial corporates, acquired in more than twenty years in the banking and financial services industry.
Before joining Moody’s, Mark worked for Australia and New Zealand Banking Group where he was the responsible senior analyst for a portfolio of German and Swiss corporates. Prior to that he worked for Crédit Agricole CIB as senior risk analyst, covering first the bank’s German automotive portfolio before being responsible for German and Central European utilities and oil & gas companies. Mark also worked in various analyst and relationship management positions for Zurich Financial Services, ING-BHF Bank (today ODDO-BHF Bank) and KfW Kreditanstalt für Wiederaufbau (today KFW-IPEX Bank).
Mark holds a degree in economics (Diplom-Ökonom) from Hohenheim University in Stuttgart. He is fluent in German and English.
Tobias Zechbauer is Co-Head of Global Credit Research at MEAG Munich ERGO AssetManagement in Munich, Germany. He has coverage responsibility for the European Telecommunications, Media, Technology (TMT) and Airlines sector.
Tobias joined MEAG in 2017 and leads since then the fundamental credit research team comprising of 9 credit analysts in Munich. Globally, MEAG has more than 15 credit analysts based in New York and Munich covering investment grade, high yield, emerging market corporates, covered bonds and SSAs.
In his previous roles, Tobias was credit strategist at Barclays Investment Bank in London and fundamental credit analyst at PIMCO in Munich.
Tobias graduated with a master degree in Business Administration from Ludwig Maximilian University in Munich. Additionally, he holds a law degree from the law school of Ludwig Maximilian University in Munich.
| Matthias Hellstern, Managing Director, has been with Moody’s Deutschland GmbH in Frankfurt since October 2004. Matthias is Team Leader in the European Corporate Finance Group heading the Frankfurt-based analytical team focusing on manufacturing industries. The principal industries covered by his team include Auto, Capital Goods, Paper and Packaging, and Building Materials. He is also managing teams in London and Stockholm that are covering the Real Estate, Shipping and Airlines sectors. Prior to his appointment as Team Leader, Matthias was Moody’s lead analyst for European building materials companies and steel producers. Previously he spent around 10 years in the European banking industry as a corporate credit analyst with Commerzbank and ING in Germany and the UK. Matthias Hellstern has graduated from the University of Augsburg in Germany with a degree in Business Administration (Diplom-Kaufmann). |
Tobias Zechbauer is Co-Head of Global Credit Research at MEAG Munich ERGO AssetManagement in Munich, Germany. He has coverage responsibility for the European Telecommunications, Media, Technology (TMT) and Airlines sector.
Tobias joined MEAG in 2017 and leads since then the fundamental credit research team comprising of 9 credit analysts in Munich. Globally, MEAG has more than 15 credit analysts based in New York and Munich covering investment grade, high yield, emerging market corporates, covered bonds and SSAs.
In his previous roles, Tobias was credit strategist at Barclays Investment Bank in London and fundamental credit analyst at PIMCO in Munich.
Tobias graduated with a master degree in Business Administration from Ludwig Maximilian University in Munich. Additionally, he holds a law degree from the law school of Ludwig Maximilian University in Munich.
| Matthias Hellstern, Managing Director, has been with Moody’s Deutschland GmbH in Frankfurt since October 2004. Matthias is Team Leader in the European Corporate Finance Group heading the Frankfurt-based analytical team focusing on manufacturing industries. The principal industries covered by his team include Auto, Capital Goods, Paper and Packaging, and Building Materials. He is also managing teams in London and Stockholm that are covering the Real Estate, Shipping and Airlines sectors. Prior to his appointment as Team Leader, Matthias was Moody’s lead analyst for European building materials companies and steel producers. Previously he spent around 10 years in the European banking industry as a corporate credit analyst with Commerzbank and ING in Germany and the UK. Matthias Hellstern has graduated from the University of Augsburg in Germany with a degree in Business Administration (Diplom-Kaufmann). |
Karen joined Moody's in 2004 in its New York office, where she worked as a corporate
credit analyst for over 10 years, primarily focused on leveraged finance, before
transferring to Moody's methodology development group. In that role she lead and
contributed to the development of methodologies across ratings groups and industry
sectors and established the group's presence in Europe with her move to Frankfurt in
February 2018. She returned to CFG as an Associate Managing Director in September
2021.
Prior to Moody’s, Karen worked at a high yield brokerdealer, at National Australia
Bank Limited, and in market research for Barron’s magazine. She also participated in a
volunteer service program in Kingston, Jamaica, for one year. Karen graduated magna
cum laude from The University of Notre Dame with a B.A. in English. She is a CFA
charterholder.
Jorge R. Valez is a Senior Vice President at Moody’s Sovereign Risk Group based in London. He serves as lead analyst for a portfolio of sovereigns and multilateral development banks in the EMEA region. He is also a global lead in analytical projects aimed at supporting rating accuracy and thought leadership across sovereign credit risks.
Jorge joined Moody’s in 2014 in the Financial Institutions Group. He also worked at Credit Strategy and Research leading the team responsible for banking projections and stress tests globally, as well as foundational research on ratings and capital markets.
Prior to joining Moody’s, Jorge worked for a bank as a macroeconomist responsible for forecasting and scenario analysis, and as a university lecturer in Macroeconomics and Econometrics.
Jorge is a PhD in Econometrics and holds degrees in Economics and in Business Administration.
Mark Remshardt is a senior credit officer in the EMEA Infrastructure Finance Group, based in Frankfurt. He holds the responsibility for a portfolio of regulated networks and unregulated utilities in Germany and The Netherlands.
Moody’s has a leading global Infrastructure Finance franchise, rating some US$2.8 trillion of corporate and project finance securities. Our team of 148 analytical staff covers more than 2,700 public and private sector infrastructure issuers globally. Moody’s EMEA team of 48 infrastructure specialists is responsible for rating around 330 issuers with approximately US$756 billion in debt outstanding. Moody’s Investors Service covers a total of more than 35,000 issuers and structured finance transactions worldwide, representing more than US$73 trillion in rated debt.
Mark has considerable experience of assessing credit risk across a wide range of sectors, including utilities, oil & gas companies and large global industrial corporates, acquired in more than twenty years in the banking and financial services industry.
Before joining Moody’s, Mark worked for Australia and New Zealand Banking Group where he was the responsible senior analyst for a portfolio of German and Swiss corporates. Prior to that he worked for Crédit Agricole CIB as senior risk analyst, covering first the bank’s German automotive portfolio before being responsible for German and Central European utilities and oil & gas companies. Mark also worked in various analyst and relationship management positions for Zurich Financial Services, ING-BHF Bank (today ODDO-BHF Bank) and KfW Kreditanstalt für Wiederaufbau (today KFW-IPEX Bank).
Mark holds a degree in economics (Diplom-Ökonom) from Hohenheim University in Stuttgart. He is fluent in German and English.
| Heiko Peters is a Vice President - Senior Analyst in Moody’s Sovereign Risk Group, and is based in the Frankfurt office. He has Lead Analyst responsibilities for a number of European sovereigns and supra-nationals, producing ratings and research related to their creditworthiness. Heiko joined Moody’s from Deutsche Bank AG, where he was Senior Economist - Vice President in the European Economics Team of Deutsche Bank Research for more than five years. He published research on economic and political topics, including global trade, labour markets, demographics and migration, and covered in particular the economies of Germany and Austria. Prior to that he had worked from 2009 to 2011 as an Economist for the German Council of Economic Experts in Wiesbaden, reporting to the Chair of the Council. Moreover, his professional background includes stints at the Deutsche Bundesbank (Visiting Researcher), Germany’s Monopolies Commission and the German Institute for Economic Research (DIW), both as a Visiting Fellow. He holds a PhD, a Master’s level diploma and a BSc in Economics from the University of Muenster. |