María Serrano is a senior commercial leader in Structured Finance and Head of Covered Bonds (EMEA) at Moody’s Ratings, where she drives business development, client strategy, and market expansion across the region.

With more than 25 years at Moody’s Ratings, María has played a pivotal role in expanding the firm’s presence across European securitisation and Covered Bonds. Prior to leading the Covered Bond business, she was the key commercial lead for the Iberian market covering Banking, Corporate, and Sub-sovereign clients, where she developed strong client relationships and contributed significantly to franchise growth.

María began her career at Pearse Trust Limited in London, a specialist firm in corporate, trust, and tax services, where she spent three years working with international clients.

Stanislav rejoined Moody’s in November 2012 and has since been working in EMEA structured finance group. Since 2019 he is in covered bond team responsible for covered bond programmes in Germany, Austria and CEE markets.

Prior to joining covered bond team, he was responsible for analyzing and rating RMBS and ABS transactions with focus on CIS and Dutch RMBS markets. Stanislav had already been on Moody’s Frankfurt RMBS team from February 2007 to September 2010.

Earlier in his career, from 2004 to 2007, Stanislav worked as Audit Senior at KPMG in Frankfurt. From October 2010 to October 2012, he worked as Business Advisor at BearingPoint GmbH, in the department Banking Operations and Applications.

Stanislav holds BSc degree in business administration from the Siberian State Aerospace University (Russia), Master degree in international economic relations and PhD in political economy from the University of Konstanz (Germany). He is trilingual, fluently speaking English, German and Russian.

Paavo Truu has been a Member of the Management Board and Chief Financial Officer of Coop Pank AS since 2022.

Coop Pank is a rapidly growing bank operating in Estonia and has been listed on the Nasdaq Tallinn Stock Exchange since 2019. The bank’s subordinated bonds are also traded on the Nasdaq Tallinn Stock Exchange, and its covered bonds are traded on the Euronext Dublin Stock Exchange.

From 2018 to 2022, he served as CFO of Coop Eesti Keskühistu, Coop Pank’s largest shareholder, and as Chair of Coop Pank’s Audit Committee. Previously, Paavo Truu spent more than 20 years as a CFO in various international companies operating in real estate, retail and manufacturing.

Siyana Nikolova is heading Treasury Liquidity Management at Eurobank Bulgaria with more than 20 years’ experience in Treasury with the institution.

In current role she covers the full perimeter of ALM and Liquidity management functions, including balance sheet risks management, IFIs relations, funding and investment projects.

Holds Master’s diploma in Strategic Planning from UNWE, Sofia and various professional qualifications.

Elena Bortolotti is Head of Covered Bond Structuring & Advisory at Natixis Corporate and Investment Banking. Before joining Natixis, Elena spent 21 years at Barclays where she most recently was Global Head of Covered Bonds and Head of Structured Solutions for EME. She joined Barclays’ securitisation and covered bond structuring team in January 2006.

Over her career, she has specialised in establishing structured and legislative covered bond programmes across multiple jurisdictions, as well as securitisations backed by a wide range of asset classes, including residential mortgages, consumer loans, SME loans, and trade receivables. She has played a key role in establishing covered bond programmes in several new markets, including Israel, Iceland, the Czech Republic, Turkey, Singapore, Poland, Japan, and Romania.

Prior to joining Barclays, Elena spent four years with the Italian securitisation team at Deloitte Consulting in Milan, where she worked on both Italian and Greek securitisations.

She was the former Chairwoman of the ECBC Rating Agency Working Group, is actively involved in various ECBC Working Groups and contributes to the ECBC Fact Book.