ESG: What’s Ahead for North American Financial Institutions
North American financial institutions are accelerating their efforts to incorporate ESG considerations into their business activities and strategies. Interest from stakeholders including investors, customers, employees and regulators is becoming more pervasive. The panel will reflect on the opportunities and challenges from ESG that are becoming apparent in this rapidly moving environment, and comment on what to expect going forward.
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Agenda13.05 - 14.00EDT
Panel discussion
- To what extent will investors drive ESG-related changes, and how could this affect financial institutions’ creditworthiness?
- What ESG lessons can North American financial institutions learn from their European counterparts?
- What will be the likely future internally- and externally-driven developments?
14.00EDTEnd
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SpeakersAna Arsov Managing Director, Global Head of Private Credit & Global Financial Institutions Co-Head Moody’s Ratings
Megan Fox Associate Managing Director, Financial Institutions Moody's Ratings
Betsy Colucci Head of North American Financial Institutions Credit, Co-Head of North American Credit – Global Lending and Liquidity BlackRock
Chantal Wessels Vice President, Head of Global Reporting and Corporate ESG Nasdaq
Linda French Executive Director of ESG Policy and Regulation J.P. Morgan Chase
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Ana Arsov is a Global Managing Director, co-heading of the banking rating franchise for Moody’s Investor Service which includes rating coverage for banks, securities firms, specialty finance and market infrastructure.
Ana joined Moody’s in 2013 with an extensive experience in analyzing financial institutions and managing credit professionals. Prior to joining Moody’s, Ana’s most recent role was at UBS, where she spent the last several years as Executive Director in Credit Risk, responsible for financial institutions including North American banks, broker dealers, exchanges and clearinghouses. Prior to UBS, she was Head of Global Portfolio Management-Credit Risk Management at Morgan Stanley, focusing on comprehensive coverage, identification and analysis of risks across the firm’s trading and lending businesses as well as leading key risk management initiatives for Morgan Stanley Bank N.A.
Ana began her career in Credit Risk Management at Lehman Brothers in various credit risk roles, ultimately heading up the North American Financial Institutions and Structured Finance team, and subsequently worked on Lehman’s bankruptcy resolution.
Ana holds a master’s degree in Management (with a specialization in Financial Services and Banking) from Boston University, and a bachelor’s degree in Business from Pace University, New York. Ana also holds certificate on board governance from Harvard Business School.
Betsy Colucci, Co-Head of North American Credit and Head of North American Financial Institutions Credit for Cash Management, is a credit research analyst on BlackRock's Global Lending and Liquidity team in New York. In addition to responsibility for providing views and analysis of IG-rated banks and financial institutions, sovereigns, supranationals and agencies in North America, she is responsible for consumer and retail issuers and large pharmaceutical and tobacco companies in North America and EMEA, and for overseeing the non-trading aspects of BlackRock's triparty repo activities globally. Prior to this, she was a member of BlackRock's RQA Counterparty and Concentration Risk team in New York where her primary responsibility was the analysis and management of the largest banks and broker dealers with which the firm trades.
Prior to joining BlackRock, Betsy was a trading floor credit officer at Rabobank, responsible for the counterparty and exposure management of a portfolio of banks, broker dealers and central counterparties. As the bank's global lead central counterparty analyst, she was a key member of the team which established the bank's membership to a major CCP. Additionally, she served as a specialist on the risk management aspects of title VII of the Dodd Frank act, identifying applicable regulations and overseeing implementation of the necessary credit and market risk measures. She also served as the primary credit risk liaison between Rabobank's US branch and Mexico office, facilitating the unwind of a book of highly structured derivatives.
Betsy held two roles on Bank of America's Capital Markets Credit Risk desk before working at Rabobank. First, she managed BoA's book of bilateral CLOs through the financial crisis. As the crisis was winding down, she moved on to advise the Bank's credit officers on terms for ISDA and CSA documentation and rights upon termination of trades.
Betsy holds Bachelor of Science degrees in Managerial Resource Economics and Sport Management, and a minor in Spanish, from the University of Massachusetts at Amherst.
Linda French is Executive Director of ESG Policy and Regulation at J.P. Morgan Chase. Linda leads the firm’s global strategy on ESG policy and regulation, especially related to sustainable finance and climate change.
Prior to joining J.P. Morgan Chase, Linda led global advocacy efforts on policy issues related to sustainable finance and ESG investing for the Investment Company Institute (ICI), the global trade association for regulated funds and asset managers.
Linda has also worked in private law practice representing asset managers, funds, and fund boards; served as an attorney in the SEC Division of Enforcement; and held a variety of positions at a large asset manager.
Linda holds a JD, summa cum laude, from the University of Baltimore School of Law and a BA from the University of Maryland.
Chantal Wessels currently serves as Head of Global Financial Reporting and Corporate ESG at Nasdaq. Chantal is a Qualified Chartered Accountant and holds an Honors degree in Accounting and Finance and has more than 15 years’ experience across corporate finance, financial reporting, analysis and ESG. Chantal leads a global team responsible for Nasdaq’s SEC Financial Reporting, International Financial Reporting and ESG Reporting and Strategy. Prior to joining Nasdaq, Chantal spent a number of years in professional practice in both South Africa and Australia. She joined Nasdaq in 2013 and has served in multiple finance roles across Asia, Europe and North America.
Megan Fox is an Associate Managing Director in the Financial Institutions Group at Moody’s Ratings. She oversees the North American team responsible for the ratings and research of a portfolio spanning US-based global investment and universal banks, securities firms, asset managers and Canadian banks.
Before leading the team, Megan spent nearly 15 years as a Moody’s Ratings analyst covering a broad range of global investment, universal, US regional and community banks.
Prior to joining Moody’s Ratings, Megan held positions at Freddie Mac, primarily within the Finance department. She holds an honors degree in economics and political science from the University of Delaware.
Ana Arsov is a Global Managing Director, co-heading of the banking rating franchise for Moody’s Investor Service which includes rating coverage for banks, securities firms, specialty finance and market infrastructure.
Ana joined Moody’s in 2013 with an extensive experience in analyzing financial institutions and managing credit professionals. Prior to joining Moody’s, Ana’s most recent role was at UBS, where she spent the last several years as Executive Director in Credit Risk, responsible for financial institutions including North American banks, broker dealers, exchanges and clearinghouses. Prior to UBS, she was Head of Global Portfolio Management-Credit Risk Management at Morgan Stanley, focusing on comprehensive coverage, identification and analysis of risks across the firm’s trading and lending businesses as well as leading key risk management initiatives for Morgan Stanley Bank N.A.
Ana began her career in Credit Risk Management at Lehman Brothers in various credit risk roles, ultimately heading up the North American Financial Institutions and Structured Finance team, and subsequently worked on Lehman’s bankruptcy resolution.
Ana holds a master’s degree in Management (with a specialization in Financial Services and Banking) from Boston University, and a bachelor’s degree in Business from Pace University, New York. Ana also holds certificate on board governance from Harvard Business School.
Megan Fox is an Associate Managing Director in the Financial Institutions Group at Moody’s Ratings. She oversees the North American team responsible for the ratings and research of a portfolio spanning US-based global investment and universal banks, securities firms, asset managers and Canadian banks.
Before leading the team, Megan spent nearly 15 years as a Moody’s Ratings analyst covering a broad range of global investment, universal, US regional and community banks.
Prior to joining Moody’s Ratings, Megan held positions at Freddie Mac, primarily within the Finance department. She holds an honors degree in economics and political science from the University of Delaware.
Betsy Colucci, Co-Head of North American Credit and Head of North American Financial Institutions Credit for Cash Management, is a credit research analyst on BlackRock's Global Lending and Liquidity team in New York. In addition to responsibility for providing views and analysis of IG-rated banks and financial institutions, sovereigns, supranationals and agencies in North America, she is responsible for consumer and retail issuers and large pharmaceutical and tobacco companies in North America and EMEA, and for overseeing the non-trading aspects of BlackRock's triparty repo activities globally. Prior to this, she was a member of BlackRock's RQA Counterparty and Concentration Risk team in New York where her primary responsibility was the analysis and management of the largest banks and broker dealers with which the firm trades.
Prior to joining BlackRock, Betsy was a trading floor credit officer at Rabobank, responsible for the counterparty and exposure management of a portfolio of banks, broker dealers and central counterparties. As the bank's global lead central counterparty analyst, she was a key member of the team which established the bank's membership to a major CCP. Additionally, she served as a specialist on the risk management aspects of title VII of the Dodd Frank act, identifying applicable regulations and overseeing implementation of the necessary credit and market risk measures. She also served as the primary credit risk liaison between Rabobank's US branch and Mexico office, facilitating the unwind of a book of highly structured derivatives.
Betsy held two roles on Bank of America's Capital Markets Credit Risk desk before working at Rabobank. First, she managed BoA's book of bilateral CLOs through the financial crisis. As the crisis was winding down, she moved on to advise the Bank's credit officers on terms for ISDA and CSA documentation and rights upon termination of trades.
Betsy holds Bachelor of Science degrees in Managerial Resource Economics and Sport Management, and a minor in Spanish, from the University of Massachusetts at Amherst.
Chantal Wessels currently serves as Head of Global Financial Reporting and Corporate ESG at Nasdaq. Chantal is a Qualified Chartered Accountant and holds an Honors degree in Accounting and Finance and has more than 15 years’ experience across corporate finance, financial reporting, analysis and ESG. Chantal leads a global team responsible for Nasdaq’s SEC Financial Reporting, International Financial Reporting and ESG Reporting and Strategy. Prior to joining Nasdaq, Chantal spent a number of years in professional practice in both South Africa and Australia. She joined Nasdaq in 2013 and has served in multiple finance roles across Asia, Europe and North America.
Linda French is Executive Director of ESG Policy and Regulation at J.P. Morgan Chase. Linda leads the firm’s global strategy on ESG policy and regulation, especially related to sustainable finance and climate change.
Prior to joining J.P. Morgan Chase, Linda led global advocacy efforts on policy issues related to sustainable finance and ESG investing for the Investment Company Institute (ICI), the global trade association for regulated funds and asset managers.
Linda has also worked in private law practice representing asset managers, funds, and fund boards; served as an attorney in the SEC Division of Enforcement; and held a variety of positions at a large asset manager.
Linda holds a JD, summa cum laude, from the University of Baltimore School of Law and a BA from the University of Maryland.