Credit Trends – Switzerland will explore Moody’s key 2024 credit themes and interpret what they mean for the region.
Agenda
08:30
CET
REGISTRATION AND NETWORKING
09:10
CET
Investor Outlook: Reshaping Portfolios in a Competitive Landscape
- In times of high interest rates, geopolitical events and sluggish growth, where are investors finding attractive opportunities for returns? What is the impact on risk assessments?
- What funding strategy for a Swiss issuer in a rising interest rate environment and what investment strategy for cash reserves?
- How is the growing emphasis on sustainability and the transition to net zero influencing investment preferences?
10:10
CET
NETWORKING AND COFFEE BREAK
10:40
CET
11:20
CET
Cyber Risk: Continued Growth and Evolution
- A resurgence of ransomware losses and their impact on the cyber insurance market
- The risks associated with the increasing use of generative artificial intelligence
- The transition to post-quantum cryptography systems
- The tightening of cyber budgets
- Cyber espionage and intellectual property theft
12:00
CET
Networking lunch with experts in digital finance and digital assets
Those with an interest in digital finance or cyber can join our experts in these areas for lunchtime discussion.
Confirm cancellation
Something went wrong.
An error occurred trying to play the stream. Please reload the page and try again.
CloseSign In
Please sign in to your account:
Sandra Veseli is a Managing Director and Head of the EU for Moody’s Investors Service, 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.
Christian Hendker rejoined Moody’s European Corporate Finance Group beginning of November 2018 as Associate Managing Director. Christian will be responsible for a team of Manufacturing Analysts based in Frankfurt, reporting to Matthias Hellstern. Over the last 7 years, Christian Hendker managed a team of credit analysts as Head of Credit Research at Talanx Asset Management in Cologne, the Asset Management arm of the insurance group Talanx AG. Prior to that, Christian Hendker was VP-Senior Analyst at Moody’s in Frankfurt, which he initially joined in 2004, responsible for the European Pulp & Paper industry. Christian Hendker started his career as a consultant at PriceWaterhouse Coopers Corporate Finance Beratung GmbH in Frankfurt. Christian has a Diploma degree in Business Administration from the University of Muenster and is a CFA Charterholder.
Patrick Saner is Head Macro Strategy at Swiss Re. In this role, he covers global macroeconomic, interest rates and political developments. He formulates the longer-term capital market assumptions and alternative scenarios. Prior to joining Swiss Re, he worked at the World Bank, the Swiss National Bank and UBS. Patrick holds a Masters in economics and finance and is a CFA charter holder.
Matthias Heck is a Vice President – Senior Credit Officer within Moody’s European Corporate Finance Group, based in Frankfurt. He is Moody’s Lead Analyst for European Automotive Suppliers. Previously, Matthias covered a diverse portfolio of manufacturing, business services, real estate and consumer goods companies based in Europe. He also coordinated Moody’s Global Construction Industry Outlook.
Matthias has over 18 years of experience in corporate ratings and financial analysis from a credit and equity perspective.
Matthias joined Moody’s in 2013, as a Senior Analyst of the Infrastructure Finance Team in London. Prior to this, Matthias worked for Macquarie, Sal. Oppenheim and Banco Santander as an equity research analyst focussing on European utilities. In addition to producing idea-driven sector and company research reports and communicating his analysis to institutional investors, Matthias also accompanied several equity capital market transactions.
Matthias is a CFA charterholder and holds the CEFA qualification from the German Association of Financial Analysis and Asset Management (DVFA). Matthias has a degree in Business Administration from the Baden-Wuerttemberg Cooperative State University (DHBW), Mannheim, Germany.
Jani Relander is Senior Vice President, Corporate Treasurer of ABB. He is responsible for all treasury matters and teams in ABB Group globally, including funding and capital structure, financial markets risk management, cash management, export and trade finance, insurance and risk finance as well as pensions management. He joined ABB in 2022.
Before joining ABB Jani spent over two decades in Nokia. He worked in areas of corporate finance and treasury, holding expert and leadership positions in financial risk management, investment management as well as funding and capital structure management prior to assuming the role of Group Treasurer of Nokia in 2011.
Jani is Finnish and Swiss citizen. He holds a Master of Science in Economics from the Helsinki School of Economics and Business Administration.
Christian Kopf is the Head of Fixed Income and Currencies at Union Investment Group, a leading German asset manager. Based in Frankfurt, he is responsible for overseeing the firm’s cash, developed markets rates, emerging markets debt, global credit and securitised debt investment teams. Christian also helps set guidelines for strategic allocation across all asset classes as a member of the firm’s investment committee.
Prior to joining Union Investment in 2017, Christian spent eleven years in the London office of Spinnaker Capital, where he was the partner responsible for global strategy and for risk allocation in currencies, rates and sovereign debt across the European and Asian time zones. Before that, Christian was a Senior Portfolio Manager at DWS Investments in Frankfurt and conducted sustainability research at the Wuppertal Institute for Climate, Environment and Energy.
Christian serves on advisory panels to the ECB, the EIB and ICMA and is a member of the Euro50 Group, an informal advisory group to European institutions. He has published various papers on sovereign debt issues and holds a Master’s degree in economics from Witten/Herdecke University in Germany.
| 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). |
Vincent Gusdorf is a Senior Vice President 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).
David Newns was made Head SIX Digital Exchange in October 2021 with a mandate to lead SDX in building the next generation fully regulated digital market infrastructure and establish SDX as a leader in global institutional Digital Assets and Cryptocurrency services. David is an entrepreneur and financial services professional with over 20 years of experience in capital markets.
Prior to SDX, he was Senior Managing director at State Street and Global Head of GlobalLink Execution Services. In this role he was responsible for the award winning Currenex and FX Connect independent multi-asset class trading platform businesses. Previously, David was Global Head of Currenex and SwapEx.
Before that, he held the roles of Chief Operating Officer for State Street Global Exchange Trading & Clearing and State Street eExchange EMEA. In 2001 David joined Currenex as a founding member of Currenex’s London operation. Before joining Currenex, David held several positions in technical services at MicroStrategy, a leading global provider of enterprise software platforms for business intelligence.
Benjamin Müller is an Advisor in the Banking Operations Analysis team of the Swiss National Bank (SNB). Benjamin leads SNB’s wholesale CBDC pilot project Helvetia Phase III. He represents the SNB in international working groups on tokenisation. He joined the SNB in 2012 and started his career in the Money Market and Foreign Exchange unit. Benjamin holds a PhD in economics and is a lecturer on monetary policy and financial markets at the University of Zurich.
Maya Bundt is a senior leader and experienced board member with a passion for cyber, innovation, and people.
In almost 20 years with the global reinsurer Swiss Re she had a variety of roles in IT, Strategy and Reinsurance. Since 2014 she was responsible to develop the cyber insurance strategy and successfully built the Cyber and Digital Solutions function and team; she also chaired the Swiss Re Cyber Council. She left Swiss Re in summer 2022 to serve as an independent director on the boards of Baloise, Valiant, and APG SGA.
Maya supports a number of national and international initiatives around the digital economy and cyber risks and has published several articles on the topic. She engages with the community as the chair of the Cyber Resilience Chapter of the Swiss Risk Association, a member of the Cyber Security Commission of digitalswitzerland, a contributor to the Geneva Dialogue, and as a member on the executive board of the Cyber Peace Institute.
Twitter: @MayaBundt
LinkedIn: @Maya Bundt
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.
Bethany Vohlers is a Model & Product Specialist in the Moody's RMS Cyber Solutions team, where she is responsible for driving the global growth and adoption of Moody’s RMS Cyber Solutions to support diverse use cases across the (re)insurance value chain.
With more than a decade of experience in financial and quantitative modelling, Bethany specializes in domains such as catastrophe risk modelling, cyber risk scoring and quantification, portfolio aggregation, and enterprise risk management (ERM). Bethany's passion for Cyber (re)insurance propels her commitment to pushing the frontiers of the market’s maturity. She holds dual degrees in Statistics and Computer Science summa cum laude from North Carolina State University.
| 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). |
Patrick Saner is Head Macro Strategy at Swiss Re. In this role, he covers global macroeconomic, interest rates and political developments. He formulates the longer-term capital market assumptions and alternative scenarios. Prior to joining Swiss Re, he worked at the World Bank, the Swiss National Bank and UBS. Patrick holds a Masters in economics and finance and is a CFA charter holder.
Jani Relander is Senior Vice President, Corporate Treasurer of ABB. He is responsible for all treasury matters and teams in ABB Group globally, including funding and capital structure, financial markets risk management, cash management, export and trade finance, insurance and risk finance as well as pensions management. He joined ABB in 2022.
Before joining ABB Jani spent over two decades in Nokia. He worked in areas of corporate finance and treasury, holding expert and leadership positions in financial risk management, investment management as well as funding and capital structure management prior to assuming the role of Group Treasurer of Nokia in 2011.
Jani is Finnish and Swiss citizen. He holds a Master of Science in Economics from the Helsinki School of Economics and Business Administration.
Maya Bundt is a senior leader and experienced board member with a passion for cyber, innovation, and people.
In almost 20 years with the global reinsurer Swiss Re she had a variety of roles in IT, Strategy and Reinsurance. Since 2014 she was responsible to develop the cyber insurance strategy and successfully built the Cyber and Digital Solutions function and team; she also chaired the Swiss Re Cyber Council. She left Swiss Re in summer 2022 to serve as an independent director on the boards of Baloise, Valiant, and APG SGA.
Maya supports a number of national and international initiatives around the digital economy and cyber risks and has published several articles on the topic. She engages with the community as the chair of the Cyber Resilience Chapter of the Swiss Risk Association, a member of the Cyber Security Commission of digitalswitzerland, a contributor to the Geneva Dialogue, and as a member on the executive board of the Cyber Peace Institute.
Twitter: @MayaBundt
LinkedIn: @Maya Bundt
Benjamin Müller is an Advisor in the Banking Operations Analysis team of the Swiss National Bank (SNB). Benjamin leads SNB’s wholesale CBDC pilot project Helvetia Phase III. He represents the SNB in international working groups on tokenisation. He joined the SNB in 2012 and started his career in the Money Market and Foreign Exchange unit. Benjamin holds a PhD in economics and is a lecturer on monetary policy and financial markets at the University of Zurich.
David Newns was made Head SIX Digital Exchange in October 2021 with a mandate to lead SDX in building the next generation fully regulated digital market infrastructure and establish SDX as a leader in global institutional Digital Assets and Cryptocurrency services. David is an entrepreneur and financial services professional with over 20 years of experience in capital markets.
Prior to SDX, he was Senior Managing director at State Street and Global Head of GlobalLink Execution Services. In this role he was responsible for the award winning Currenex and FX Connect independent multi-asset class trading platform businesses. Previously, David was Global Head of Currenex and SwapEx.
Before that, he held the roles of Chief Operating Officer for State Street Global Exchange Trading & Clearing and State Street eExchange EMEA. In 2001 David joined Currenex as a founding member of Currenex’s London operation. Before joining Currenex, David held several positions in technical services at MicroStrategy, a leading global provider of enterprise software platforms for business intelligence.
Christian Kopf is the Head of Fixed Income and Currencies at Union Investment Group, a leading German asset manager. Based in Frankfurt, he is responsible for overseeing the firm’s cash, developed markets rates, emerging markets debt, global credit and securitised debt investment teams. Christian also helps set guidelines for strategic allocation across all asset classes as a member of the firm’s investment committee.
Prior to joining Union Investment in 2017, Christian spent eleven years in the London office of Spinnaker Capital, where he was the partner responsible for global strategy and for risk allocation in currencies, rates and sovereign debt across the European and Asian time zones. Before that, Christian was a Senior Portfolio Manager at DWS Investments in Frankfurt and conducted sustainability research at the Wuppertal Institute for Climate, Environment and Energy.
Christian serves on advisory panels to the ECB, the EIB and ICMA and is a member of the Euro50 Group, an informal advisory group to European institutions. He has published various papers on sovereign debt issues and holds a Master’s degree in economics from Witten/Herdecke University in Germany.
Sandra Veseli is a Managing Director and Head of the EU for Moody’s Investors Service, 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.
| 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). |
Christian Hendker rejoined Moody’s European Corporate Finance Group beginning of November 2018 as Associate Managing Director. Christian will be responsible for a team of Manufacturing Analysts based in Frankfurt, reporting to Matthias Hellstern. Over the last 7 years, Christian Hendker managed a team of credit analysts as Head of Credit Research at Talanx Asset Management in Cologne, the Asset Management arm of the insurance group Talanx AG. Prior to that, Christian Hendker was VP-Senior Analyst at Moody’s in Frankfurt, which he initially joined in 2004, responsible for the European Pulp & Paper industry. Christian Hendker started his career as a consultant at PriceWaterhouse Coopers Corporate Finance Beratung GmbH in Frankfurt. Christian has a Diploma degree in Business Administration from the University of Muenster and is a CFA Charterholder.
Bethany Vohlers is a Model & Product Specialist in the Moody's RMS Cyber Solutions team, where she is responsible for driving the global growth and adoption of Moody’s RMS Cyber Solutions to support diverse use cases across the (re)insurance value chain.
With more than a decade of experience in financial and quantitative modelling, Bethany specializes in domains such as catastrophe risk modelling, cyber risk scoring and quantification, portfolio aggregation, and enterprise risk management (ERM). Bethany's passion for Cyber (re)insurance propels her commitment to pushing the frontiers of the market’s maturity. She holds dual degrees in Statistics and Computer Science summa cum laude from North Carolina State University.
Vincent Gusdorf is a Senior Vice President 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).
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.
Matthias Heck is a Vice President – Senior Credit Officer within Moody’s European Corporate Finance Group, based in Frankfurt. He is Moody’s Lead Analyst for European Automotive Suppliers. Previously, Matthias covered a diverse portfolio of manufacturing, business services, real estate and consumer goods companies based in Europe. He also coordinated Moody’s Global Construction Industry Outlook.
Matthias has over 18 years of experience in corporate ratings and financial analysis from a credit and equity perspective.
Matthias joined Moody’s in 2013, as a Senior Analyst of the Infrastructure Finance Team in London. Prior to this, Matthias worked for Macquarie, Sal. Oppenheim and Banco Santander as an equity research analyst focussing on European utilities. In addition to producing idea-driven sector and company research reports and communicating his analysis to institutional investors, Matthias also accompanied several equity capital market transactions.
Matthias is a CFA charterholder and holds the CEFA qualification from the German Association of Financial Analysis and Asset Management (DVFA). Matthias has a degree in Business Administration from the Baden-Wuerttemberg Cooperative State University (DHBW), Mannheim, Germany.