Colin Ellis is Moody’s first Global Credit Strategist, and a Managing Director in the Credit Strategy team. 

In his current role, Colin provides thought leadership for the rating agency that deepens the understanding of ratings and debt capital markets through rigorous and quantitative research. He leads Moody’s teams working on default and ratings analytics and on global financial analysis, including bank projections and stress testing. Colin is also a member of Moody’s Macroeconomic Board, which sets the global forecasts that underpin Moody’s universe of ratings.

Colin joined Moody’s in February 2012, initially leading the work of the Macroeconomic Board and authoring the quarterly Global Macro Outlook. He subsequently worked in the Financial Institutions Group, developing quantitative forward-looking analyses. For 8 years he was the Chief Credit Officer for EMEA, leading analysis and coordination of credit and ratings across all rating franchises in the region. He was also the ‘Head of UK’ for Moody's Ratings, responsible for the running of Moody’s UK operations, from 2019-2022 including the COVID-19 pandemic. 

Prior to joining Moody’s, Colin held roles at the Bank of England, Daiwa Capital Markets, the BVCA and at Birmingham University. He has published papers on a range of topics including corporate investment and pricing, credit risk, private equity, data uncertainty, stress testing, financial contagion and monetary policy. Colin holds degrees from York University, the London School of Economics and Political Science, and Middlesex University. He is a Visiting Professor at Hult International Business School and LSBU, and is also a Fellow of the RSA.

Maurice Obstfeld, C. Fred Bergsten Senior Fellow, has been associated with the Peterson Institute for International Economics since February 2019. He is the Class of 1958 Professor of Economics emeritus at the University of California, Berkeley, where he taught between 1991 and 2023. He previously taught at Harvard University (1989–90), the University of Pennsylvania (1986–89), and Columbia University (1979–86).

In addition to his academic positions, Obstfeld served at the International Monetary Fund (IMF) as economic counsellor and director of the research department (2015–18) and as a member of the US President's Council of Economic Advisors (2014–15). Obstfeld was an honorary adviser to the Bank of Japan's Institute of Monetary and Economic Studies (2002–14) and has consulted and taught at the IMF, the World Bank, and numerous central banks around the world.

Obstfeld has received Tilburg University's Tjalling Koopmans Asset Award, the John von Neumann Award of the Rajk László College for Advanced Studies (Budapest), and the Kiel Institute's Bernhard Harms Prize. He has given a number distinguished lectures, including the American Economic Association's annual Richard T. Ely Lecture, the L. K. Jha Memorial Lecture of the Reserve Bank of India, the Frank D. Graham Memorial Lecture at Princeton University, and the Harry Johnson Lecture of the Money Macro and Finance Society. Obstfeld has served on both the executive committee and as vice president of the American Economic Association. He is a fellow of the Econometric Society and the American Academy of Arts and Sciences.

He is the coauthor of two leading textbooks on international economics, International Economics (12th edition, 2022, with Paul Krugman and Marc Melitz) and Foundations of International Macroeconomics (1996, with Kenneth Rogoff). In addition, he has written, coauthored, or edited more than a hundred research articles and books on exchange rates, currency and other financial crises, global capital markets, and monetary policy.

Obstfeld earned his PhD in economics from the Massachusetts Institute of Technology and holds degrees in mathematics from the University of Pennsylvania and King's College, Cambridge University.

Nick Hill is a Managing Director and heads the Credit Strategy & Guidance function within the Credit Strategy & Standards division in Moody’s Ratings. 

Based in Paris, he joined Moody’s in March 2010, initially heading the France / BeNeLux banking team. 

Since then he has managed successively larger teams, led the global revision of Moody’s bank rating methodology, which was published in 2015, and latterly was co-head of the global banking team. 

Prior to joining Moody’s, Nick worked as a bank analyst in a variety of roles. These include banking supervision at the Bank of England and Financial Services Authority, where he began his career; sell-side equity research on French banks in a #1 ranked team at Morgan Stanley; rating UK and continental European banks at Standard & Poor’s; and providing balance sheet advice to financial institutions with RBS. 

A graduate of Christ’s College, University of Cambridge in the UK, Nick holds an MA in English, a diploma in French, and a postgraduate certificate in Finance from Birkbeck College, University of London.   

Colin Ellis is Moody’s first Global Credit Strategist, and a Managing Director in the Credit Strategy team. 

In his current role, Colin provides thought leadership for the rating agency that deepens the understanding of ratings and debt capital markets through rigorous and quantitative research. He leads Moody’s teams working on default and ratings analytics and on global financial analysis, including bank projections and stress testing. Colin is also a member of Moody’s Macroeconomic Board, which sets the global forecasts that underpin Moody’s universe of ratings.

Colin joined Moody’s in February 2012, initially leading the work of the Macroeconomic Board and authoring the quarterly Global Macro Outlook. He subsequently worked in the Financial Institutions Group, developing quantitative forward-looking analyses. For 8 years he was the Chief Credit Officer for EMEA, leading analysis and coordination of credit and ratings across all rating franchises in the region. He was also the ‘Head of UK’ for Moody's Ratings, responsible for the running of Moody’s UK operations, from 2019-2022 including the COVID-19 pandemic. 

Prior to joining Moody’s, Colin held roles at the Bank of England, Daiwa Capital Markets, the BVCA and at Birmingham University. He has published papers on a range of topics including corporate investment and pricing, credit risk, private equity, data uncertainty, stress testing, financial contagion and monetary policy. Colin holds degrees from York University, the London School of Economics and Political Science, and Middlesex University. He is a Visiting Professor at Hult International Business School and LSBU, and is also a Fellow of the RSA.

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.

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.

Marianna Waltz is a Managing Director at Moody’s Investors Service and has joined the company in 2011. She currently runs Moody’s ratings teams in Latin America, including the Corporate Finance, Infrastructure, Banking and Sub-Sovereign groups across more than 15 countries. She is responsible for the development of MIS ratings and research opinions for the region’s fundamental ratings groups, and the delivery of services to issuers and market participants. Prior to assuming this role in January 2021, Marianna was the Managing Director responsible for Moody’s Corporate Finance team in Latin America. Marianna is also a member of the Board of Directors of Moody’s Local, an affiliate of Moody’s in Peru, Panamá, Bolivia, Argentina, Uruguay, and Brazil. Prior to joining Moody’s, Marianna developed a career as an equity sell side analyst covering mostly the Brazilian Consumer and Protein sectors. From 2008 to 2011, she was the head of sell-side equity research in the investment arm of Banco do Brasil in Sao Paulo. Marianna is a CFA charter holder and holds three master’s degrees, including an MBA in Finance from IBMEC Business School and an MBA in Marketing from Fundação Getúlio Vargas - FGV.

Laura Acres is Managing Director for the Corporate Finance Group for Asia. Based in Singapore, she has overall responsibility for Moody’s corporate ratings and research for the region, managing teams in Sydney, Singapore, Hong Kong, Beijing, Shanghai and Tokyo. Laura also spearheads our global Emerging Markets initiative, leading many of our aggregated research based publications in this space and helping to coordinate Moody’s approach to this large and growing area of focus. Laura joined the company in 2006 taking a number of Lead Analyst roles for a variety of corporates around the region; she also created Moody’s aggregated high-yield research and outreach initiatives for the Asia Pacific region. She was appointed Managing Director in 2015 and led the Singapore based South & South East Asia corporate rating teams and was then appointed to her current role in 2020. Before joining Moody’s, Laura worked for Schroders PLC in London and Singapore, and Dresdner Kleinwort Wasserstein in Singapore, where she specialized in corporate restructuring and recovery throughout Southeast Asia. Laura holds a BSc (Econ) from the London School of Economics and Political Science.