Credit Trends – France will explore Moody’s key 2024 credit themes and interpret what they mean for the region.
Agenda
09.00
CET
Registration & Networking
09.40
CET
10.35
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?
11.15
CET
Networking and Coffee Break
12.00
CET
Cyber Risk
Impact of cyber risk & issuers’ responses in a rapidly changing environment
- The resurgence of cyber attacks after a brief lull at the end of 2022 and the beginning of 2023, and their impact on the cyber insurance market.
- The risks associated with the increasing use of generative artificial intelligence.
- The long and costly transition to post-quantum cryptography systems.
- The tightening of cyber budgets.
- Cyber espionage and intellectual property theft
12.50
CET
Networking Lunch
13.30
CET
Close of the Event
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Alain Laurin is an Associate Managing Director in the Financial Institutions group with responsibility for ratings on banks in France, the Benelux, Italy and Iberia.
Prior to joining Moody’s in August 2008, Alain was at Banque of France for 25 years where he held several positions in the International department – including a seven-year secondment to the World Bank – and at the Banking Commission where he was Director of off-site supervision between 2006 and 2008.
Alain holds a Master Degree in Economics (University of Bordeaux) and Sciences Po (Bordeaux).
Nathalie Aufauvre has been the Secretary General of the ACPR since January 2023 and is a member
of the EBA Board of supervision, of the Basel Committee and an alternate member of the Supervisory
Board of the SSM.
She was previously Director General for Financial Stability and Operations – Banque de France – since
October 2017 and a member of the Committee on the Global Financial System (CGFS), of the FSB
Standing Committee on the Assessment of Vulnerabilities (SCAV) and of the BIS Committee on
Payments and Market Infrastructures (CPMI). She was also a member of the steering committee of the
Central Banks and Supervisors Network for Greening the Financial System (NGFS) since 2017.
She joined the Banque de France in 1984 where she held various management positions in the Market
Directorate. In 2006, she was appointed Chief financial officer (CFO) and then Deputy Secretary
General for Strategy in 2011 before becoming Secretary General of the Banque de France in 2012.
Alain Laurin is an Associate Managing Director in the Financial Institutions group with responsibility for ratings on banks in France, the Benelux, Italy and Iberia.
Prior to joining Moody’s in August 2008, Alain was at Banque of France for 25 years where he held several positions in the International department – including a seven-year secondment to the World Bank – and at the Banking Commission where he was Director of off-site supervision between 2006 and 2008.
Alain holds a Master Degree in Economics (University of Bordeaux) and Sciences Po (Bordeaux).
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.
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.
Thiébaut Meyer is currently Director in the Office of CISO at Google Cloud. Before joining Google, Thiébaut worked for several public institutions in France. He began his career at the national cybersecurity agency (ANSSI) as a member of the Incident Response Team. He then joined the French National Assembly as an operational security engineer, and later was appointed CISO and Data Protection Officer. Thiébaut then served as the CISO of the French Presidency. Most recently, he worked for ACPR, the French supervisory authority where he was in charge of monitoring and negotiating the cybersecurity requirements in the banking regulation. Thiébaut has been a visiting lecturer at several institutions and contributed as an expert to some European Commission programs.
Thiébaut Meyer est directeur dans l’équipe du responsable de la cybersécurité de Google Cloud. Thiébaut a commencé sa carrière à l’ANSSI dans la réponse aux incidents. Il a ensuite rejoint l’Assemblée nationale comme ingénieur sécurité, puis comme RSSI et DPO. Thiébaut a également été le responsable de la cybersécurité de la Présidence de la République. Plus récemment, il a travaillé à l’ACPR où il était chargé de suivre les enjeux cyber dans la réglementation bancaire. Thiébaut intervient régulièrement dans des conférences et comme expert dans différents programmes de la Commission Européenne.
Directeur de la sécurité du Groupe Société générale, Antoine CREUX a rejoint le secteur privé en 2017 après une carrière complète au sein du ministère de la Défense débutée comme pilote de chasse. Il a notamment dirigé la Direction du renseignement et de la sécurité de la Défense (DRSD), assumé les responsabilités de directeur général de l’Armée de l’air et celles d’inspecteur général des armées en tant que général d’armée aérienne.
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.
Alain Laurin is an Associate Managing Director in the Financial Institutions group with responsibility for ratings on banks in France, the Benelux, Italy and Iberia.
Prior to joining Moody’s in August 2008, Alain was at Banque of France for 25 years where he held several positions in the International department – including a seven-year secondment to the World Bank – and at the Banking Commission where he was Director of off-site supervision between 2006 and 2008.
Alain holds a Master Degree in Economics (University of Bordeaux) and Sciences Po (Bordeaux).
Nathalie Aufauvre has been the Secretary General of the ACPR since January 2023 and is a member
of the EBA Board of supervision, of the Basel Committee and an alternate member of the Supervisory
Board of the SSM.
She was previously Director General for Financial Stability and Operations – Banque de France – since
October 2017 and a member of the Committee on the Global Financial System (CGFS), of the FSB
Standing Committee on the Assessment of Vulnerabilities (SCAV) and of the BIS Committee on
Payments and Market Infrastructures (CPMI). She was also a member of the steering committee of the
Central Banks and Supervisors Network for Greening the Financial System (NGFS) since 2017.
She joined the Banque de France in 1984 where she held various management positions in the Market
Directorate. In 2006, she was appointed Chief financial officer (CFO) and then Deputy Secretary
General for Strategy in 2011 before becoming Secretary General of the Banque de France in 2012.
Thiébaut Meyer is currently Director in the Office of CISO at Google Cloud. Before joining Google, Thiébaut worked for several public institutions in France. He began his career at the national cybersecurity agency (ANSSI) as a member of the Incident Response Team. He then joined the French National Assembly as an operational security engineer, and later was appointed CISO and Data Protection Officer. Thiébaut then served as the CISO of the French Presidency. Most recently, he worked for ACPR, the French supervisory authority where he was in charge of monitoring and negotiating the cybersecurity requirements in the banking regulation. Thiébaut has been a visiting lecturer at several institutions and contributed as an expert to some European Commission programs.
Thiébaut Meyer est directeur dans l’équipe du responsable de la cybersécurité de Google Cloud. Thiébaut a commencé sa carrière à l’ANSSI dans la réponse aux incidents. Il a ensuite rejoint l’Assemblée nationale comme ingénieur sécurité, puis comme RSSI et DPO. Thiébaut a également été le responsable de la cybersécurité de la Présidence de la République. Plus récemment, il a travaillé à l’ACPR où il était chargé de suivre les enjeux cyber dans la réglementation bancaire. Thiébaut intervient régulièrement dans des conférences et comme expert dans différents programmes de la Commission Européenne.
Directeur de la sécurité du Groupe Société générale, Antoine CREUX a rejoint le secteur privé en 2017 après une carrière complète au sein du ministère de la Défense débutée comme pilote de chasse. Il a notamment dirigé la Direction du renseignement et de la sécurité de la Défense (DRSD), assumé les responsabilités de directeur général de l’Armée de l’air et celles d’inspecteur général des armées en tant que général d’armée aérienne.
Alain Laurin is an Associate Managing Director in the Financial Institutions group with responsibility for ratings on banks in France, the Benelux, Italy and Iberia.
Prior to joining Moody’s in August 2008, Alain was at Banque of France for 25 years where he held several positions in the International department – including a seven-year secondment to the World Bank – and at the Banking Commission where he was Director of off-site supervision between 2006 and 2008.
Alain holds a Master Degree in Economics (University of Bordeaux) and Sciences Po (Bordeaux).
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.
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.
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.