Philipp Lotter Managing Director, Global Ratings & Research Moody's Ratings

Philipp Lotter is Managing Director – Global Ratings and Research,based in London. He is responsible for the development of MIS ratings and research opinions for global fundamental and structured finance ratings groups,and the delivery of services to issuers and the market.

Prior to assuming this role in November 2019, he was Global Head and before that EMEA Co-Head of the Corporate Finance Group.

Philipp has spent many years of his career abroad with strong Emerging and Developing Markets coverage experience. He spent more than 5 years in Asia, where he he ldthe dual role of Country Manager for Moody’s office in Singapore, as well as Managing Director of the Corporate Finance Group responsible for companies across Southeast Asia and India.

Before that, Philipp spent more than 3 years in Dubai, United Arab Emirates,where he was responsible for setting up the Moody’s office in Dubai and for the ratings of Middle Eastern corporate issuers across all sectors, including Islamic finance. Having joined Moody’s in London in 2003, Philipp started as an analyst covering utilities and the oil & gas industry.

Before joining Moody’s, Philipp spent 3 years in rating advisory at Citigroup.His career has also included positions at Dresdner Kleinwort Wasserstein in London and Frankfurt in rating advisory, bond and credit research, and leveraged financing. Philipp holds a Diploma from the Frankfurt School of Finance & Management. He has also attended international semesters at the European Business School in London and University College Dublin.

Marie Diron Managing Director, Sovereign Risk Moody's Ratings

Marie Diron heads the Sovereign Risk Group for Asia Pacific, the Middle East and Africa, and Sub-Sovereign Risk Group for Asia Pacific and EMEA. She is responsible for analytical teams covering more than 70 sovereign ratings, 15 Multilateral Development Banks and around 400 sub-sovereign ratings in about 30 countries. Marie is also a project owner of Moody’s Investors Service’s ESG scores, which were launched in early 2021.

Marie has worked as Moody’s lead sovereign analyst for a number of Asia Pacific credits, including China, Hong Kong, Taiwan, India, Sri Lanka and Australia. Marie has also worked in Moody’s Credit Policy, leading a number of macroeconomic analyses, including our regular Global Macro Outlook and other credit research work. Marie was previously Director at Oxford Economics, leading the company’s forecasting and scenario analysis service to financial sector and corporate clients, after a number of years at the European Central Bank and Brevan Howard LLP. Marie received a MPhil in Economics from the University of Cambridge and graduated from the Ecole Centrale Paris. 

Myriam Durand Managing Director - Global Head, Corporate Finance Moody’s Ratings

Myriam Durand is Global Head of the Corporate Finance Group (CFG) for Moody’s Ratings, overseeing the development of rating opinions and research on corporates worldwide.

Before this, Myriam served as Global Head of MIS Assessments (MISA). She supported its creation and built the assets, capabilities and talent for thought leadership and strategic vision for the group, including overseeing the majority investments in Vigeo Eiris and 427. MISA’s mission was to develop risk assessment offerings beyond credit ratings with primary focus on environmental, social and governance (ESG).

Previously, she led CFG in EMEA and also spearheaded MIS’s ESG efforts in the EMEA region, helping to incorporate ESG risks into credit analysis, and representing MIS at COP21 and COP23. Myriam has also been MIS Country Manager for France since 2015, overseeing MIS’s activities in the country. 

Rahul Ghosh Managing Director – Global Head of Sustainable Finance Moody’s Ratings

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.

Douglas Segars Managing Director - Infrastructure Finance Moody's Investors Service

Douglas Segars is responsible for Moody’s EMEA Infrastructure Finance ratings and research business. He leads a team of analysts in London, Paris, Frankfurt and Madrid covering utilities, infrastructure corporates and project financings. 

Moody’s has a leading global Infrastructure Finance franchise, rating some US$2.8trillion 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. Before joining Moody’s in 2014, Douglas spent his 30-year career in Europe and the Americas in a variety of credit and origination roles with a focus on infrastructure, financial institutions and public finance. From 2010 to 2014, he served as Head of Infrastructure Finance at Her Majesty’s Treasury, advising government ministers on initiatives to support infrastructure in the United Kingdom including the UK Guarantees Scheme, a £40 billion programme to provide financial guarantees for social and economic infrastructure projects, and the Green Investment Bank, the first national financial institution created to mobilise private sector capital for sustainable infrastructure development. Prior to HM Treasury, Douglas was a Managing Director at Financial Security Assurance, holding a number of positions in the firm’s New York, Paris and London offices and leading teams structuring and guaranteeing financings for public-private partnerships, utilities and local authorities. Douglas began his career with American Express and Chase Manhattan Bank in New York. Douglas holds a Bachelor’s degree in International Business from the University of Georgia and a MBA from the Thunderbird School of Global Management. He is a CFA charter holder

Lee C. Buchheit Professor University of Edinburgh, Scotland

Lee C. Buchheit retired in 2019 after a 43 year career in private legal practice.   For much of his career Mr. Buchheit specialized in sovereign debt management projects and has worked on over two dozen sovereign debt restructurings.   Mr. Buchheit led the international legal teams advising the Hellenic Republic (2011-12) and the Republic of Iraq (2005-08) in their debt restructurings -- the two largest sovereign debt workouts in history.

Mr. Buchheit is the author of two books in the field of international law and over 40 scholarly papers on sovereign debt matters.  He holds academic appointments at several universities in Europe and the United States.  

Scott Phillips Associate Managing Director, Head of Emerging Markets Moody's Ratings

Scott Phillips is the Global Head of Emerging Markets Credit Strategy reporting to Atsi Sheth and based in London. He is responsible for a highly visible team that articulates MIS’s insights, analysis and thought-leadership on the global EM universe, which covers all elements of fixed-income credit – sovereign, corporates, financials, infrastructure and structured finance. Until July 2022, Scott was the Head of Strategy & Business Management at Moody’s, responsible for analyzing key capital market developments across MIS’s core geographies and new regions of strategic interest. He oversaw Moody’s investment in GCR Ratings, a domestic CRA in Africa, and served as Representative Director for both Midroog and MERIS, in Israel and Egypt respectively. Prior to joining Moody’s in London, Scott was an equity research analyst and started his career with Dresdner Kleinwort where he covered the European utility sector. His analytical career also took him to Ofgem (the UK energy regulator), UniCredit and BlackRock. Scott has a degree in Molecular & Cellular Biochemistry from the University of Oxford and is mid-way through a second Masters in Computer Science from the University of Bath.

Elena Duggar Chief Credit Officer - Americas, Managing Director, Credit Strategy and Guidance Moody's Ratings

Elena Duggar is Moody’s Chief Credit Officer for the Americas, and a Managing Director in the Credit Strategy & Research team. Elena is also the Chair of Moody’s Macroeconomic Board, which sets the global macroeconomic forecasts underpinning Moody’s universe of ratings.

 In her role leading the North and Latin America Credit Strategy & Research teams and the Global Macroeconomic Research team, Elena is responsible for forming house views on emerging risks, driving cross-functional alignment on key credit factors, coordinating rating approach across sectors in the Americas, and maintaining rigor in analytic frameworks. 

Elena leads major cross-sector outreach and research initiatives, such as Moody’s Global Credit Conditions Outlook, Global Macroeconomic Outlook, Debt after COVID and Global Trade Monitor, along with thematic research on macro, sovereign, demographics and financial risk topics. Elena represents Moody’s at the IIF Committee for Sovereign Risk Management and the IIF Principles Consultative Group for the Principles for Stable Capital Flows and Fair Debt Restructuring. 

Elena has served as Chair of Moody’s Macroeconomic Board since 2016 and prior to that served as Moody’s Group Credit Officer for Sovereign Risk, covering the global sovereign ratings portfolio. She is a globally-recognized expert on sovereign defaults and the author of market leading sovereign credit research, including Moody’s Sovereign Defaults series. For example, her research on the role of holdouts in sovereign debt restructurings was cited as expert evidence in the landmark 2015 US Supreme Court case on Argentina. Elena regularly represents Moody’s macro and credit views with external audiences, including senior policymakers, international organizations such as the UN, IMF and IIF, think tanks, academia, regulators and investors. Elena’s research is frequently cited in the WSJ, the FT, Bloomberg, Reuters and leading financial media. 

Elena joined Moody’s in 2007 and previously was an Economist at the IMF. She holds a B.A. in Economics from Bates College and a Ph.D. in Economics from the University of California at Berkeley.

Philipp Lotter Managing Director, Global Ratings & Research Moody's Ratings

Philipp Lotter is Managing Director – Global Ratings and Research,based in London. He is responsible for the development of MIS ratings and research opinions for global fundamental and structured finance ratings groups,and the delivery of services to issuers and the market.

Prior to assuming this role in November 2019, he was Global Head and before that EMEA Co-Head of the Corporate Finance Group.

Philipp has spent many years of his career abroad with strong Emerging and Developing Markets coverage experience. He spent more than 5 years in Asia, where he he ldthe dual role of Country Manager for Moody’s office in Singapore, as well as Managing Director of the Corporate Finance Group responsible for companies across Southeast Asia and India.

Before that, Philipp spent more than 3 years in Dubai, United Arab Emirates,where he was responsible for setting up the Moody’s office in Dubai and for the ratings of Middle Eastern corporate issuers across all sectors, including Islamic finance. Having joined Moody’s in London in 2003, Philipp started as an analyst covering utilities and the oil & gas industry.

Before joining Moody’s, Philipp spent 3 years in rating advisory at Citigroup.His career has also included positions at Dresdner Kleinwort Wasserstein in London and Frankfurt in rating advisory, bond and credit research, and leveraged financing. Philipp holds a Diploma from the Frankfurt School of Finance & Management. He has also attended international semesters at the European Business School in London and University College Dublin.

David Lubin Head of Emerging Markets Economics Citi, Associate Fellow at Chatham House

David Lubin is managing director and head of emerging markets economics at Citi, an American bank, where he is responsible for a team of more than 30 economists in 15 locations globally.

Before joining Citi in 2006 he had been at the HSBC group since 1989, where his career started in the field of sovereign debt restructuring negotiations with governments in Latin America and Eastern Europe.

In 1993 his focus shifted to emerging markets research, in which he has engaged in a number of capacities. David has a undergraduate degree in Philosophy, Politics and Economics is from Oxford University; and a postgraduate degree from the Fletcher School of Law and Diplomacy at Tufts University.

His book, Dance of the Trillions: Developing Countries and Global Finance, examines what makes money flow from high-income countries to lower-income ones; what makes it flow out again; and how developing countries have sought protection against the volatility of international capital flows. The Financial Times selected it as one of the best economics books of 2018

Philipp Lotter Managing Director, Global Ratings & Research Moody's Ratings

Philipp Lotter is Managing Director – Global Ratings and Research,based in London. He is responsible for the development of MIS ratings and research opinions for global fundamental and structured finance ratings groups,and the delivery of services to issuers and the market.

Prior to assuming this role in November 2019, he was Global Head and before that EMEA Co-Head of the Corporate Finance Group.

Philipp has spent many years of his career abroad with strong Emerging and Developing Markets coverage experience. He spent more than 5 years in Asia, where he he ldthe dual role of Country Manager for Moody’s office in Singapore, as well as Managing Director of the Corporate Finance Group responsible for companies across Southeast Asia and India.

Before that, Philipp spent more than 3 years in Dubai, United Arab Emirates,where he was responsible for setting up the Moody’s office in Dubai and for the ratings of Middle Eastern corporate issuers across all sectors, including Islamic finance. Having joined Moody’s in London in 2003, Philipp started as an analyst covering utilities and the oil & gas industry.

Before joining Moody’s, Philipp spent 3 years in rating advisory at Citigroup.His career has also included positions at Dresdner Kleinwort Wasserstein in London and Frankfurt in rating advisory, bond and credit research, and leveraged financing. Philipp holds a Diploma from the Frankfurt School of Finance & Management. He has also attended international semesters at the European Business School in London and University College Dublin.

Marie Diron Managing Director, Sovereign Risk Moody's Ratings

Marie Diron heads the Sovereign Risk Group for Asia Pacific, the Middle East and Africa, and Sub-Sovereign Risk Group for Asia Pacific and EMEA. She is responsible for analytical teams covering more than 70 sovereign ratings, 15 Multilateral Development Banks and around 400 sub-sovereign ratings in about 30 countries. Marie is also a project owner of Moody’s Investors Service’s ESG scores, which were launched in early 2021.

Marie has worked as Moody’s lead sovereign analyst for a number of Asia Pacific credits, including China, Hong Kong, Taiwan, India, Sri Lanka and Australia. Marie has also worked in Moody’s Credit Policy, leading a number of macroeconomic analyses, including our regular Global Macro Outlook and other credit research work. Marie was previously Director at Oxford Economics, leading the company’s forecasting and scenario analysis service to financial sector and corporate clients, after a number of years at the European Central Bank and Brevan Howard LLP. Marie received a MPhil in Economics from the University of Cambridge and graduated from the Ecole Centrale Paris. 

Lee C. Buchheit Professor University of Edinburgh, Scotland

Lee C. Buchheit retired in 2019 after a 43 year career in private legal practice.   For much of his career Mr. Buchheit specialized in sovereign debt management projects and has worked on over two dozen sovereign debt restructurings.   Mr. Buchheit led the international legal teams advising the Hellenic Republic (2011-12) and the Republic of Iraq (2005-08) in their debt restructurings -- the two largest sovereign debt workouts in history.

Mr. Buchheit is the author of two books in the field of international law and over 40 scholarly papers on sovereign debt matters.  He holds academic appointments at several universities in Europe and the United States.  

Scott Phillips Associate Managing Director, Head of Emerging Markets Moody's Ratings

Scott Phillips is the Global Head of Emerging Markets Credit Strategy reporting to Atsi Sheth and based in London. He is responsible for a highly visible team that articulates MIS’s insights, analysis and thought-leadership on the global EM universe, which covers all elements of fixed-income credit – sovereign, corporates, financials, infrastructure and structured finance. Until July 2022, Scott was the Head of Strategy & Business Management at Moody’s, responsible for analyzing key capital market developments across MIS’s core geographies and new regions of strategic interest. He oversaw Moody’s investment in GCR Ratings, a domestic CRA in Africa, and served as Representative Director for both Midroog and MERIS, in Israel and Egypt respectively. Prior to joining Moody’s in London, Scott was an equity research analyst and started his career with Dresdner Kleinwort where he covered the European utility sector. His analytical career also took him to Ofgem (the UK energy regulator), UniCredit and BlackRock. Scott has a degree in Molecular & Cellular Biochemistry from the University of Oxford and is mid-way through a second Masters in Computer Science from the University of Bath.

David Lubin Head of Emerging Markets Economics Citi, Associate Fellow at Chatham House

David Lubin is managing director and head of emerging markets economics at Citi, an American bank, where he is responsible for a team of more than 30 economists in 15 locations globally.

Before joining Citi in 2006 he had been at the HSBC group since 1989, where his career started in the field of sovereign debt restructuring negotiations with governments in Latin America and Eastern Europe.

In 1993 his focus shifted to emerging markets research, in which he has engaged in a number of capacities. David has a undergraduate degree in Philosophy, Politics and Economics is from Oxford University; and a postgraduate degree from the Fletcher School of Law and Diplomacy at Tufts University.

His book, Dance of the Trillions: Developing Countries and Global Finance, examines what makes money flow from high-income countries to lower-income ones; what makes it flow out again; and how developing countries have sought protection against the volatility of international capital flows. The Financial Times selected it as one of the best economics books of 2018

Elena Duggar Chief Credit Officer - Americas, Managing Director, Credit Strategy and Guidance Moody's Ratings

Elena Duggar is Moody’s Chief Credit Officer for the Americas, and a Managing Director in the Credit Strategy & Research team. Elena is also the Chair of Moody’s Macroeconomic Board, which sets the global macroeconomic forecasts underpinning Moody’s universe of ratings.

 In her role leading the North and Latin America Credit Strategy & Research teams and the Global Macroeconomic Research team, Elena is responsible for forming house views on emerging risks, driving cross-functional alignment on key credit factors, coordinating rating approach across sectors in the Americas, and maintaining rigor in analytic frameworks. 

Elena leads major cross-sector outreach and research initiatives, such as Moody’s Global Credit Conditions Outlook, Global Macroeconomic Outlook, Debt after COVID and Global Trade Monitor, along with thematic research on macro, sovereign, demographics and financial risk topics. Elena represents Moody’s at the IIF Committee for Sovereign Risk Management and the IIF Principles Consultative Group for the Principles for Stable Capital Flows and Fair Debt Restructuring. 

Elena has served as Chair of Moody’s Macroeconomic Board since 2016 and prior to that served as Moody’s Group Credit Officer for Sovereign Risk, covering the global sovereign ratings portfolio. She is a globally-recognized expert on sovereign defaults and the author of market leading sovereign credit research, including Moody’s Sovereign Defaults series. For example, her research on the role of holdouts in sovereign debt restructurings was cited as expert evidence in the landmark 2015 US Supreme Court case on Argentina. Elena regularly represents Moody’s macro and credit views with external audiences, including senior policymakers, international organizations such as the UN, IMF and IIF, think tanks, academia, regulators and investors. Elena’s research is frequently cited in the WSJ, the FT, Bloomberg, Reuters and leading financial media. 

Elena joined Moody’s in 2007 and previously was an Economist at the IMF. She holds a B.A. in Economics from Bates College and a Ph.D. in Economics from the University of California at Berkeley.