EMEA Virtual Structured Finance Conference: Day 1
Join Moody’s Virtual Structured Finance conference to get key insights on market development through 2021 and beyond.
Moody’ senior analysts and guest speakers will discuss market trends, key credit drivers and ESG developments for ABS, RMBS, CLO, CMBS and Covered Bonds in EMEA.
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Agenda
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10:00
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10:15
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10:45
Panel Discussion - 2021 Vision: Moody’s analysts insight on key asset classes in a challenging economic environment
- Consumers performance in time of stress: resilience and pocket of risks
- CLO collateral quality continues to decline while structures adapt to the downturn
- Covered Bonds: resilience in the midst of 2021's
- The bifurcation of risks and recovery in CMBS/CRE
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11:45
Day 1 concludes
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SpeakersNeal Shah Managing Director EMEA - Structured Finance Group Moody's Investors Service
Colin Ellis EMEA Chief Credit Officer and Managing Director, Credit Strategy Moody's Investors Service
Ifigenia Palimeri Managing Director, Structured Finance Group Moody's Investors Service
Thorsten Klotz Managing Director Structured Finance Group Moody's Investors Service
Andreas Botterbusch Vice President - Senior Analyst, Structured Finance Group Moody's Investors Service
Andrea Daniels Associate Managing Director, Structured Finance Group Moody's Investors Service
Michelangelo Margaria Senior Vice President, Structured Finance Group Moody's Investors Service
Alexander Zeidler Vice President - Senior Credit Officer, Structured Finance Group Moody's Investors Service
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Neal Shah heads the structured finance team within the EMEA region,responsible for Moody’s securitisation, structured finance and covered bondratings businesses. Neal joined Moody's in 1999, and has held a number ofpositions in the company. Prior to his current role, Neal was head of RMBS, andbefore that the Chief Credit Officer for securitisation in EMEA and Asia. Nealhas also worked as an analyst in rating ABS deals in Europe and Australia.Prior to Moody's, Neal had worked within market risk and credit risk managementfor Citibank and the Bank of Tokyo-Mitsubishi. Neal holds an undergraduate degree in ManagementSciences and has a postgraduate degree in Accounting and Finance both obtainedfrom the London School of Economics.
Colin Ellis is Moody’s Chief Credit Officer in EMEA, and a Managing Director in the Credit Strategy team. He is responsible for identifying and analyzing the broad macro and credit trends, and leading and coordinating Moody’s ratings approach, across franchises in the region. He 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 of sectors and institutions, including modelling asset trends and stress testing. Previously Colin has worked at the Bank of England, Daiwa Capital Markets and the BVCA. Colin is a Visiting Research Fellow in the economics department at Birmingham University, and has published on topics ranging from investment and pricing to private equity and data uncertainty. He is also a Fellow of the RSA. Colin holds degrees from York University, the London School of Economics and Political Science, and Middlesex University. He is based in London.
Thorsten Klotz heads a team of Moody’s primary analysts in the EMEA region mainly reviewing Collateralised Debt Obligations (CDOs)(including Balance Sheet CLOs), granular ABS SME transactions and Asset Backed Commercial Paper(ABCP).Thorsten Klotz has been lead analyst on various transactions, including CDOs of ABS, Leveraged Loan CLOs and German SME loan securitisations.Before joining Moody’s in 2002, Thorsten Klotz was a Senior Derivatives Structurer at CDC IXIS Capital Markets where he was responsible for the development and pricing of interest rate and inflation linked structures. Prior to this role, he was working as a trader for callable bonds and equity linked structures at DZ BANK(former DG BANK).Thorsten Klotz holds a degree in managerial economics (University of Passau) withmain options in insurance & risk theory, finance and statistics.
Andreas Botterbusch is an Vice President – Senior Analyst in the Structured Finance Group at Moody’s Investors Service in Frankfurt. He covers European Collateralised Debt Obligations (CDOs), ABS SME transactions and Asset Backed Commercial Paper (ABCP).Prior to joining Moody’s in January 2014, Andreas was a senior risk analyst at West LB AG, where he worked on European securitisation transactions of different asset classes, including trade receivables, leases, consumer loans and nonperforming loans. He was also responsible for the Compass ABCP programme. Andreas Botterbusch started his career at Sal. Oppenheim jr. & Cie. KGaA. He holds a degree in Business Administration from University of Cologne and a CEMS Master in International Management (University of Cologne/ Michael Smurfit Graduate School of Business, University College Dublin). Andreas is also a CFA charterholder
Andrea Daniels is an Associate Managing Director and leads the EMEA Commercial Mortgage Backed Securities (CMBS) team. Prior to joining the team in London in2011, she was a team leader in the US CMBS surveillance team responsible for large loan and single borrower transactions. Since joining Moody’s in 1998, Andrea has rated various fixed and floating rate US CMBS transactions. Prior to joining Moody’s, Andrea worked as an Asset Manager within the Real Estate group at Aetna in Hartford, Connecticut. Ms. Daniels has a Bachelor of Science degree in Economics and Management from the University of the West Indies in Jamaica and an MBA in Real Estate from the University of Connecticut.
Michelangelo Margaria is a Senior Vice President/Manager with Moody’s Structured Finance Group and is based in the Milan office. He acts as Manager of the Consumer Surveillance team in the EMEA region and coordinates the Structured Finance activity in the Italian market. Previously he was a Manager in the RMBS team and a Senior Analyst rating securitisation transactions backed by different asset classes in various EMEA jurisdictions. He is also the author of various Moody’s Special Reports and Rating Methodologies. Before joining Moody’s at the beginning of 2002 Michelangelo Margaria worked in the Structured Credit Group at UBS in London. Mr. Margaria holds a laurea in engineering from the Polytechnic of Turin.
| Alexander Zeidler is a Vice President - Senior Credit Officer at Moody’s in London. He coordinates Moody’s efforts in the Nordic covered bond markets Sweden, Denmark, Finland, Norway and in the Baltic countries. Furthermore, he is responsible for a portfolio of covered bond programmes in Norway and Switzerland and was previously leading the analysis of the covered bond markets in Austria and Luxembourg. As a senior member of the analytical team, Alexander has coordinated and contributed to a number of publications and regularly speaks at investor and industry conferences. Prior to joining Moody’s EMEA Covered Bonds team in 2010, Alexander was responsible for a portfolio of CMBS transactions in the UK, France, the Netherlands and Germany for four years. Alexander started his career in commercial real estate finance, working for overten years as an underwriter, credit auditor and corporate analyst at UniCredit in Germany. Alexander also holds a MBA from a Fulbright program sponsored by the U.S. government at the University of Louisville, U.S.A. Moody’s has a leading global covered bond franchise, rating some US$2 trillion worth of covered bonds securities, which represents more than 80% of all public bonds issued globally in the sector. In total, over 20 senior analysts cover more than 200 covered bond programmes in over 30 countries globally. Moody’s EMEA Covered Bonds team is located in London, Madrid, Frankfurt and Paris. |
Neal Shah heads the structured finance team within the EMEA region,responsible for Moody’s securitisation, structured finance and covered bondratings businesses. Neal joined Moody's in 1999, and has held a number ofpositions in the company. Prior to his current role, Neal was head of RMBS, andbefore that the Chief Credit Officer for securitisation in EMEA and Asia. Nealhas also worked as an analyst in rating ABS deals in Europe and Australia.Prior to Moody's, Neal had worked within market risk and credit risk managementfor Citibank and the Bank of Tokyo-Mitsubishi. Neal holds an undergraduate degree in ManagementSciences and has a postgraduate degree in Accounting and Finance both obtainedfrom the London School of Economics.
Colin Ellis is Moody’s Chief Credit Officer in EMEA, and a Managing Director in the Credit Strategy team. He is responsible for identifying and analyzing the broad macro and credit trends, and leading and coordinating Moody’s ratings approach, across franchises in the region. He 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 of sectors and institutions, including modelling asset trends and stress testing. Previously Colin has worked at the Bank of England, Daiwa Capital Markets and the BVCA. Colin is a Visiting Research Fellow in the economics department at Birmingham University, and has published on topics ranging from investment and pricing to private equity and data uncertainty. He is also a Fellow of the RSA. Colin holds degrees from York University, the London School of Economics and Political Science, and Middlesex University. He is based in London.
Thorsten Klotz heads a team of Moody’s primary analysts in the EMEA region mainly reviewing Collateralised Debt Obligations (CDOs)(including Balance Sheet CLOs), granular ABS SME transactions and Asset Backed Commercial Paper(ABCP).Thorsten Klotz has been lead analyst on various transactions, including CDOs of ABS, Leveraged Loan CLOs and German SME loan securitisations.Before joining Moody’s in 2002, Thorsten Klotz was a Senior Derivatives Structurer at CDC IXIS Capital Markets where he was responsible for the development and pricing of interest rate and inflation linked structures. Prior to this role, he was working as a trader for callable bonds and equity linked structures at DZ BANK(former DG BANK).Thorsten Klotz holds a degree in managerial economics (University of Passau) withmain options in insurance & risk theory, finance and statistics.
Andreas Botterbusch is an Vice President – Senior Analyst in the Structured Finance Group at Moody’s Investors Service in Frankfurt. He covers European Collateralised Debt Obligations (CDOs), ABS SME transactions and Asset Backed Commercial Paper (ABCP).Prior to joining Moody’s in January 2014, Andreas was a senior risk analyst at West LB AG, where he worked on European securitisation transactions of different asset classes, including trade receivables, leases, consumer loans and nonperforming loans. He was also responsible for the Compass ABCP programme. Andreas Botterbusch started his career at Sal. Oppenheim jr. & Cie. KGaA. He holds a degree in Business Administration from University of Cologne and a CEMS Master in International Management (University of Cologne/ Michael Smurfit Graduate School of Business, University College Dublin). Andreas is also a CFA charterholder
Andrea Daniels is an Associate Managing Director and leads the EMEA Commercial Mortgage Backed Securities (CMBS) team. Prior to joining the team in London in2011, she was a team leader in the US CMBS surveillance team responsible for large loan and single borrower transactions. Since joining Moody’s in 1998, Andrea has rated various fixed and floating rate US CMBS transactions. Prior to joining Moody’s, Andrea worked as an Asset Manager within the Real Estate group at Aetna in Hartford, Connecticut. Ms. Daniels has a Bachelor of Science degree in Economics and Management from the University of the West Indies in Jamaica and an MBA in Real Estate from the University of Connecticut.
Michelangelo Margaria is a Senior Vice President/Manager with Moody’s Structured Finance Group and is based in the Milan office. He acts as Manager of the Consumer Surveillance team in the EMEA region and coordinates the Structured Finance activity in the Italian market. Previously he was a Manager in the RMBS team and a Senior Analyst rating securitisation transactions backed by different asset classes in various EMEA jurisdictions. He is also the author of various Moody’s Special Reports and Rating Methodologies. Before joining Moody’s at the beginning of 2002 Michelangelo Margaria worked in the Structured Credit Group at UBS in London. Mr. Margaria holds a laurea in engineering from the Polytechnic of Turin.
| Alexander Zeidler is a Vice President - Senior Credit Officer at Moody’s in London. He coordinates Moody’s efforts in the Nordic covered bond markets Sweden, Denmark, Finland, Norway and in the Baltic countries. Furthermore, he is responsible for a portfolio of covered bond programmes in Norway and Switzerland and was previously leading the analysis of the covered bond markets in Austria and Luxembourg. As a senior member of the analytical team, Alexander has coordinated and contributed to a number of publications and regularly speaks at investor and industry conferences. Prior to joining Moody’s EMEA Covered Bonds team in 2010, Alexander was responsible for a portfolio of CMBS transactions in the UK, France, the Netherlands and Germany for four years. Alexander started his career in commercial real estate finance, working for overten years as an underwriter, credit auditor and corporate analyst at UniCredit in Germany. Alexander also holds a MBA from a Fulbright program sponsored by the U.S. government at the University of Louisville, U.S.A. Moody’s has a leading global covered bond franchise, rating some US$2 trillion worth of covered bonds securities, which represents more than 80% of all public bonds issued globally in the sector. In total, over 20 senior analysts cover more than 200 covered bond programmes in over 30 countries globally. Moody’s EMEA Covered Bonds team is located in London, Madrid, Frankfurt and Paris. |