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Home , Danae Kyriakopoulou, Eurogroup Working Group, European Investment Bank, European Investment Fund, Fabio Panetta, Frank Elderson

SPEAKERS

Wednesday, 1 July 2020

Welcome Address has a PhD (in ) from Cologne University where he also started his career in various positions. Dr Hoyer served for 33 years as a Member of the German . During this period, he held the position of Minister of State at the Foreign Office on two separate occasions. In addition, he held several other

positions, including that of Whip and FDP Security Policy Spokesman, Deputy Chairman of the German-American

Parliamentary Friendship Group, FDP Secretary General and President of the European Liberal Democratic Reform Party (ELDR). Upon appointment by the EU Member States, Dr Hoyer commenced his first term as EIB President in January 2012. His mandate was renewed for a second term commencing on 1 January 2018. Dr Hoyer and his wife Katja have two children. Werner Hoyer

President,

Klaus Regling is the current and first Managing Director of the European Stability Mechanism. The Managing Director of the ESM is appointed by the Board of Governors for a renewable term of five years. Klaus Regling is also the CEO of the European Financial Stability Facility (EFSF), a position he has held since the creation of the EFSF in June 2010. Klaus Regling has worked for over 40 years as an in senior positions in the public and the private sector in Europe, Asia, and the U.S., including a decade with the IMF in Washington and Jakarta and a decade with the German Ministry of Finance where he prepared Economic and Monetary Union in Europe. From 2001 to 2008, he was Director General for Economic and Financial Affairs of the . Klaus Regling During 2008-09, he spent a year at the Lee Kuan Yew School of Public Policy in Singapore where he researched financial and monetary integration in Asia. Subsequently, he opened an economic and financial consultancy in Managing Director, Brussels. European Stability Mechanism Previously, Mr. Regling had gained experience in the private sector as Managing Director of the Moore Capital Strategy Group in London (1999-2001) and as an economist with the German Bankers’ Association. Mr. Regling studied economics at the Universities of Hamburg and Regensburg.

Keynote speaker: The price of uncertainty and uncertainty about prices: monetary policy in the post COVID-19 economy has been a member of the Executive Board of the European since 1 January 2020. He is responsible for International and European Relations, Market Infrastructure and Payments and Banknotes.

Prior to joining the ECB, Mr Panetta was Senior Deputy Governor of the Banca d’Italia and President of the Italian Insurance Supervisory Authority (Ivass). He served as a Member of the Board of Directors and as a Member of the Committee on the Global Financial System of the Bank for International Settlements. From 2014 to 2019 he was a Member of the Supervisory Board Fabio Panetta of the Single Supervisory Mechanism at the .

Mr Panetta graduated with honours in Economics from LUISS University (Rome). He holds a M.Sc. in Economics Member of the Executive Board, European Central from the London School of Economics and a PhD in Economics and Finance from the London Business School. Bank He has authored books and papers published in international journals such as the American Economic Review, the Journal of Finance, the Journal of Money, Credit and Banking, the European Economic Review, the Journal of Banking and Finance.

Keynote remarks Valdis Dombrovskis is Executive Vice-President of the European Commission responsible for an economy that works for people. Before this, he was Vice-President responsible for the , social dialogue, financial services and the .

In , he was his country’s longest-serving head of government with three terms as prime minister. He served as Finance Minister, was a Member of the Latvian Parliament and elected twice to the .

In his pre-political life, he worked as chief economist at the and before that, as a research assistant at Mainz University, at the Institute of Solid-State Physics in Latvia and the University of Maryland. Valdis Dombrovskis Valdis Dombrovskis was born on 5 August 1971 in Riga, and holds degrees in both physics and economics.

Executive Vice-President, European Commission

Panel discussion: European institutional response to Covid-19

After earning degrees in business (Ecole des Hautes Etudes Commerciales 1978) and in law (Université de Paris 1979), Bertrand de Mazières joined the French Treasury on graduating from l’Ecole Nationale d’Administration in 1982. He was Financial Attaché at the French Embassy in Washington from 1986 to 1988, Head of the banking

division at the Treasury from 1989 to 1993 and Deputy Secretary for debt and development from 1993 to 1996.

In this latter capacity he was Vice-President of the Paris Club in charge of negotiating the restructuring of sovereign debt from 1993 to 1996. Bertrand de Mazières was nominated General Secretary and Chief of staff of the Conseil des Marchés Financiers

CMF in October 1996, when the CMF was founded as the regulatory agency responsible for the good conduct and the professional standards of the French investment services providers, for the supervision of both regulated Bertrand de Mazières and off-market operations in , and for the authorisation of tender offers. He held this office until CMF and another regulatory agency, the Commission des Opérations de Bourse COB, were merged into the Autorité des Director General of Finance, Marchés Financiers AMF in November 2003. European Investment Bank In December 2003, he was appointed Chief Executive of Agence France Trésor, the division of the Ministry of Economy and Finance responsible for the management of the debt and treasury of the French Republic. He held this post until August 2006 when he left to join the European Investment Bank as its Director General for Finance. In June 2007, he was also elected President of AMTE (Euro Debt Market Association). Bertrand de Mazières is married to an English wife. They have three children and live in .

Kalin Anev Janse is the Chief Financial Officer and Member of the Management Board of the ESM and EFSF. He is in charge of the Funding and Relations division responsible for €300 billion of outstanding debt and the Investment and Treasury division investing the €80 billion ESM capital. Additionally, he is in charge of ALM &

Lending overseeing the ESM and EFSF balance sheet, and IT & Operations running technology and facilities of

the institution. Before taking on the CFO position, he was the Secretary General responsible for amongst others Corporate Governance, Shareholder relations, HR and Finance & Control. He previously worked in strategy at the European

Investment Bank in Luxembourg, corporate finance advisory at McKinsey & Company in the and at JPMorgan in London. He held several political positions in the Netherlands. Kalin Anev Janse Kalin Anev Janse studied MSc. Business Administration at the Rotterdam School of Management and Wharton CFO and Member of the at the University of Pennsylvania. For his undergraduate degree, he studied Business Administration in Finance, Management Board of the Banking and Insurance at the Vrije University Amsterdam. He is a young global leader of the World Economic ESM and EFSF, Forum. European Stability Mechanism

Mr. Björn Ordell is CFO of Nordic Investment Bank and a member of NIB's Executive Committee. He is responsible for the Bank's Treasury and Finance activities. Before taking on his current position, Björn has been responsible for other areas at NIB e.g. the Risk Management function and IT. Björn joined Nordic Investment

Bank in 2015, before which he worked as CFO at Landshypotek Bank AB in .

Björn Ordell

CFO, Head of Treasury and Finance, and Member of Executive Committee, Nordic Investment Bank

Maarten Verwey has been Deputy Director-General for Economic and Financial Affairs in the European Commission since September 2011, responsible for finance and international relations. Mr. Verwey started his career at the Dutch Ministry of Finance in 1994. In 1999 he moved to Manila where he worked for three years for

the . On his return to the Dutch Ministry of Finance in 2002, he became head of the

export credit insurance division and two years later he assumed the position of deputy director of the economic and financial strategy department. He was nominated Director of Foreign Financial Relations in September 2007. Mr Verwey has been a chairman of the euro task force on coordinated action (2010-2011), he played a key role

in first establishing the pooled bilateral facility for , subsequently the European Financial Stability Maarten Verwey Facility and the European Stability Mechanism. Since June 2012 he has been the EU mission chief for financial assistance program. He has recently been appointed as Co-chairman of the Ecofin Task Force on Director General, DG Investment and as EC representative on the EIB board and the EIF board. Economic and Financial Affairs, European Commission

Moderator Agnès Belaisch is a Managing Director and Chief European Strategist of the Barings Investment Institute. The Institute explores current macroeconomic and political dynamics, as well as the forces that shape long-term investment and capital decisions.

Agnès joined the firm in 2019 and works on a variety of topics ranging from macroeconomic analysis to responsible finance. She has worked in the industry since 1996 and has experience both in the public and private sectors. In particular, she spent 10 years at the IMF in Washington, D.C., advising a variety of governments in Latin America, Europe and Asia. Agnès also worked as an emerging markets fixed income fund manager and

strategist in London. When the hit, she helped set up the European Stability Mechanism, the euro-area bailout fund that provided financial support to , Greece, , and Cyprus. She Agnès Belaisch managed negotiations with Greece and Spain and dealt with debt restructuring, privatization and bank restructuring issues. She became interested in the topic of sustainable finance and wrote a paper published at Managing Director and Chief the London School of Economics on the design of impact investments, a type of investment that aims to deliver European Strategist, a market return while also having a social or environmental impact. Barings Investment Institute Agnès holds a Ph.D. in Economics from New York University.

Fire-side chat: Sustainable Finance: the role of public and private investment to ensure a green and socially just recovery

Emma Navarro has been a Vice President of the European Investment Bank since June 2018. Ms. Navarro is a member of the EIB’s Management Committee, which draws up the Bank's financial and lending policies, oversees its day-to-day business, and takes collective responsibility for the Bank’s performance. She is responsible for

financing operations in Spain, Portugal, Latin America, the Caribbean States and the Community of Latin

American and Caribbean States (CELAC), , and Algeria.She is also responsible for financing the environment, climate action, , the EIB Institute and relations with national promotional institutions and the European Association of Long-Term (ELTI).

Before joining the EIB, Ms. Navarro was General Secretary of the Treasury and Financial Policy in Spain and Member of the Governing Council and Board Member of the Spanish National Securities Market Emma Navarro Commission. Prior to this, she had been President of Instituto de Crédito Oficial (ICO), Director of the Office of the Minister for Economic Affairs, Industry and Competitiveness and advisor at the International Monetary Fund. Vice-President, Previously, Ms. Navarro held various positions in the public sector in Spain. European Investment Bank In 2005, Ms. Navarro became “State Economist and Trade Expert” of the Spanish Administration. She holds a degree in Law, a master’s degree in EU law from CEU San Pablo University and a joint postgraduate degree in EU law and economics from Madrid’s Complutense University and the Sorbonne in Paris..

Jean-Jacques Barbéris began his career at the General Directorate of the Treasury. From 2008 to 2012 he was responsible for climate-related economic issues and then for the financial markets. From 2010 to 2012 he represented the French state on the Enforcement Committee of the French securities regulator, Autorité des

Marchés Financiers (AMF). In 2012 he joined the cabinet of the Ministry of the Economy and Finance, where he

notably worked on business financing and contributed to the creation of Banque Public d’Investissement. He then moved on to the cabinet of the French president, serving as economic advisor from 2013 to 2016. In June 2016, he joined Amundi as Head of Sovereign Clients and in 2017 was named Head of Institutional Clients. Since 2019, he has been responsible for all of Amundi’s institutional and corporate clients. He is also a member of Amundi’s Executive Committee, overseeing development in the Middle East and the Nordic countries. Jean Jacques Barbéris Jean-Jacques Barbéris is a graduate of ENA and Ecole Normale Supérieure Lettres et Sciences Humaines and Member of Executive holds an advanced degree in History as well as a diploma from Institut d’Etudes Politiques Paris. Committee and Head of Institutional and Corporate Clients Coverage, Amundi. Vice Chairman of the Board Finance for Tomorrow

Moderator Founder and President of the Granito Group, a company that advances the sustainable economy through management consulting, financial advisory, and policy & research. Professor of Sustainable Finance at NOVA School of Business and Economics (Nova SBE), in Portugal. He holds over 15 years of experience in government

and international organizations working with foreign affairs and economic cooperation. From 2011 to 2014 served

as Head of the São Paulo State Government's Office of Foreign Affairs. His academic path includes the universities of Harvard (Senior Research Fellow), Columbia (Research Fellow on a postdoc ), Gothenburg (Ph.D.) and California, Berkeley (Visiting Research Fellow). Author of 4 books, including “Paradiplomacy: Cities and States as Global Players” (Oxford University Press, 2016). He was nominated Young Global Leader by the World Economic Forum (2017), and StartUp Portugal Ambassador (2018). Rodrigo Tavares

Founder and President of the Granito Group and Professor of Sustainable Finance at NOVA School of Business and Economics (Nova SBE), in Portugal

Fire-side chat: Energy Transition: are economic recovery and sustainable energy mutually exclusive?

Laura Cozzi was appointed the Agency’s Chief Energy Modeller in 2018. As Chief Energy Modeller Ms. Cozzi oversees the Agency’s work on outlooks and forecasts and is in charge of overall consistency of modelling work and resulting messages. Ms. Cozzi is also Head of the Demand Outlook

Division with responsibility of producing the annual World Energy Outlook, the IEA flagship publication. The

Division produces medium to long term energy demand, efficiency, power generation, renewables and environmental analysis for the World Energy Outlook and other publications. Ms Cozzi joined the IEA in 1999, and has been leading several editions of the Outlook, and has been co-author of multiple editions of the report. Prior to joining the IEA, Ms. Cozzi worked for the Italian energy company ENI

S.p.A. She holds a Master Degree in Environmental (from Polytechnic Milan) and a Master Degree Laura Cozzi in Energy and Environmental Economics (from Eni Corporate University).

Chief Energy Modeller, International Energy Agency

Andrew McDowell is one of the eight Vice Presidents of the EIB who, together with President Werner Hoyer, form the Management Committee that runs the bank on a day-to-day basis. In that capacity, Vice President McDowell has oversight of the Bank’s treasury, economics and evaluation functions, as well as lending operations in energy

and the bioeconomy. He is also responsible for institutional relations with 10 European and 14 Asian countries.

Prior to joining the EIB in 2016, Andrew was Chief Economic Adviser to Irish Prime Minister Enda Kenny from 2011, co-ordinating the policies that supported Ireland’s recovery from the economic crisis and sovereign bail- out.

He took undergraduate and post-graduate studies in business, economics, finance and international relations Andrew McDowell from University College Dublin and John Hopkins University.

Vice-President, European Investment Bank

Moderator

Eugene Howard is an energy economist and head of division in the energy department of the European Investment Bank (EIB). He has 25 years of experience in due diligence – economic, technical, environmental and social – of energy projects financed by the EIB. During his professional career, he has been directly involved

in the appraisal of (concentrated solar power, photovoltaic, wind, biomass and hydro),

conventional fossil-fuelled power plants (oil, gas and coal), oil refineries, gas networks and storage (including LNG liquefaction and regasification), , and electricity transmission and distribution networks worldwide. He has also appraised infrastructure funds targeting the energy sector and provided key technical support to the implementation of the Global Energy Efficiency and Renewable Energy Fund (GEEREF), a fund of funds catalysing private sector capital into clean energy projects in developing countries and economies in transition. He is a key player in defining and managing the quality control for the issuance of the EIB’s Climate Awareness Bonds. Eugene Howard

Head of Division Electricity Networks, European Investment Bank

Keynote speech

Frank Elderson (1970) has served as an executive director of (DNB) since 1 July 2011. In that capacity he is currently responsible for Banking supervision, Horizontal supervisory functions and Legal Affairs. He is a member of the European Central Bank (ECB) Supervisory Board. He is the chairman of the Central

Banks and Supervisors Network for Greening of the Financial System. He is the chairman of the Platform for

Sustainable Finance in the Netherlands. He is a member of the High Level Group on Financing Sustainability Transition (Chairman: ). has participated as an observer in the EU High Level Expert Group on Sustainable Finance.

Before joining DNB’s Executive Board, Mr Elderson served as Head of the ABN AMRO supervision department (2006-2007), Director of the Legal Services division (2007-2011) and DNB’s General Counsel (2008-2011). He Frank Elderson received his professional training as an attorney with Houthoff Advocaten & Notarissen from 1995 to 1998. Having studied various courses at the University of Zaragoza, Spain, he graduated in Dutch law at the University of Chairman of NGFS and Amsterdam in 1994. He obtained an LL.M. Degree at Columbia Law School, New York, in 1995. Executive Director of Supervision, De Nederlandsche Bank

Panel discussion: Role of Central Banks and public sector in their response to sustainable recovery

In March 2019, the Financial Services Agency of Japan (JFSA) decided to create the position of Chief Sustainable Finance Officer (CSFO), to plan and coordinate on promotion of sustainable finance internally and globally. Upon its creation he was appointed, and has been serving, as the first CSFO.

In this capacity, he covers a wide range of issues concerning sustainable finance which include, among other things, aligning private finance with the Sustainable Development Goals (SDGs), promoting TCFD disclosures by business corporations and financial institutions alike, and representing JFSA for the Network for Greening the Financial System (NGFA) as plenary member.

Satoshi Ikeda

Chief Sustainable Finance Officer, Financial Services Agency, Japan

Dr. MA Jun is currently the Director of Center for Finance and Development at Tsinghua University, Chairman of Green Finance Committee (GFC) of Society of Finance and Banking, and a Member of the Monetary Policy Committee of the People’s Bank of China. Being recognized as a global leader in green and sustainable finance,

he is also the Special Advisor to the UNEP on Sustainable Finance, Member of the Global Steering Committee of

the UNEP Finance Initiative, Co-Chair of Green/Sustainable Finance Study Group (SFSG), Chair of Supervision Workstream of the Central Banks and Supervisors Network on Greening the Financial System (NGFS), and Chairman/President of Hong Kong Green Finance Association.

Between 2014 and 2017, Dr Ma served as the Chief Economist at the People’s Bank of China (PBOC)’s Research Bureau and played a groundbreaking role in developing the national green finance policy framework. Before MA Jun joining the PBOC, he worked for 13 years at , where he was Managing Director/Chief Economist Chairman of China Green for Greater China. During 1992-2000, he worked as a senior economist and public policy specialist at the World Finance Committee, Bank, and an economist with the International Monetary Fund. From 1988-1990, he was a research fellow at the China Society of Finance and Development Research Center of China's State Council. Banking During his 28 years in the financial sector and public services, Dr. Ma established himself as a well-known and Member of Monetary Policy economist and a leading policy advocate/practitioner. He published 18 books and a few hundred papers/articles Committee, on , finance and development, environmental economics, and green/sustainable finance. People’s Bank of China Dr. Ma received his Ph.D. in Economics from Georgetown University in 1994, and his master's degree in Management Science from Fudan University in 1988.

Sébastien Lévy is the Head of Investment and Treasury at the ESM since 2014. In this position, he supervises the investment of the ESM’s €80 billion Paid-in capital and the ESM and EFSF short-term liquidity portfolios, invested in the European fixed income market, with the objective to ensure ESM’s liquidity and long-term

creditworthiness. As the ESM was newly created, he has been concentrating, with his team, on developing the

ESM’s investment capacity. He focuses, now, on the development of a responsible investment approach and the digitalisation of internal processes. Previously, Mr. Lévy was the Head of Reserves Management at Banque de France, where he was responsible for supervising the management of Banque de France Foreign Exchange reserves, as well as a share of ECB reserves. In this role, he focused, in particular, on enhancing reserve Sebastien Lévy diversification, in particular by introducing Emerging markets investments. He was also directly involved in the operational implementation of market intervention programmes. He joined the Banque de France, in Head of Investment and 2000, as a market economist before becoming a fixed income portfolio manager. During this period, he also spent Treasury, two years at the Reserve Bank of , in the International Reserves division, and conducted a number of European Stability Mechanism technical assistance missions for the IMF, in Africa. Mr. Lévy holds a Master in Macro-economics (University of Paris Dauphine), a Master in Market Finance (CFPB – Paris) and a BA from the Institute of Political Sciences (Grenoble).

Dr Patrick Njoroge was reappointed Governor of the Central Bank with eff ect from June 18, 2019. He holds a PhD in Economics from Yale University, USA, and a master’s and bachelor’s degrees in Economics from the

University of Nairobi, . Prior to joining the Central Bank, Dr Njoroge had a long career, spanning 20 years, at the International Monetary Fund (IMF), in Washington, D.C., USA. At the IMF, he was advisor to the IMF Deputy Managing Director from December 2012. He also served as Deputy Division Chief in the IMF’s Finance Department and IMF Mission Chief for the Commonwealth of Dominica, as well as other capacities beginning in 1995. Prior to joining the IMF, Dr Njoroge worked in Kenya as an economist at the Ministry of Finance and as a planning officer at the Ministry of Planning. His professional and research interests are in Macroeconomics, Patrick Njoroge Economic Policy, International Finance, Development Economics, and Monetary Policy.

Governor, Central Bank of Kenya

Mr Philippe Richard joined the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) in October 2015. He heads the regulatory-related international activities and collaborations with key international organisations and national regulators. He support the FSRA in maintaining an active communication

and contribution to discussions on fostering global financial stability and shaping international financial regulatory

reforms. Prior to joining ADGM’s FSRA, Philippe was the Director of the International Affairs Department at the French Autorité de Contrôle Prudentiel et de Résolution (ACPR) overseeing all matters related to prudential and

accounting regulations in the banking and insurance sectors. He was a member of the Advisory Board of the United Arab Emirates Securities and Commodities Authority between 2008 and 2009. From 2001 to 2008, he was Philippe Richard the Secretary General of the International Organization of Securities Commissions (IOSCO). During his tenure at IOSCO, Philippe was actively involved in the development of the Multilateral Agreement for the exchange of Executive Director information and in the implementation of the IOSCO Principles. In his earlier career, Philippe was also a Personal International Affairs, Assistant to Jacques de Larosière, the President of the European Bank for Reconstruction and Development ADGM (EBRD) from 1993 to 1997.

Moderator

Nathan Fabian is the Chief Responsible Investment Officer at the -supported Principles for Responsible Investment. He directs and oversees the PRI’s Investment Practices, Active Ownership, Policy & Research, ESG, Climate Change and SDG activities. Nathan is also the Rapporteur for the Taxonomy Group of

the EU Technical Expert Group on Sustainable Finance. He was an Observer on the EU High Level Expert Group

on Sustainable Finance and part of the Secretariat for the UK Green Finance Taskforce. Prior to the PRI, Nathan was the CEO of the Investor Group on Climate Change (IGCC) Australia / New Zealand. Previous roles include Head of ESG Research at Regnan, a provider of ESG research and engagement services;

founding Partner of Full Corp Partners, a financial services and IT start-up company advisory firm; and Corporate Governance Policy Advisor in the Australian Parliament. He has also worked as a senior change management consultant for Arthur Andersen and as a market analyst at Krone, a German-based telecommunications company. Nathan Fabian Nathan holds a M.A. in International Relations from the University of New South Wales, a BBus from the University Chief Responsible Investment of Newcastle (Australia) and is a Vincent Fairfax Fellow in ethics and leadership. Officer, Principles for Responsible Investment (PRI) and Member of the European Commission’s technical expert group on sustainable finance

Panel discussion: Current macroeconomic scene for the European and EU economies

Danae Kyriakopoulou is Chief Economist and Director of Research at the Official Monetary and Financial Institutions Forum (OMFIF), based in London. Her research focuses on areas relevant to global public investment institutions such as central banks, sovereign funds and public pension funds.

These range from monetary policy and financial regulation to reserve management, investment policy and

governance. She is a frequent speaker and contributor on these themes in international publications, conferences and the media. Previously she was Managing Economist at the Centre for Economics and Business Research. She has also served as Economic Adviser to the Institute of Chartered Accountants in England and Wales and has worked at the . She holds a BA in Philosophy, Politics, and Economics and an MSc in Economics for Development from Oxford University.

Danae Kyriakopoulou

Chief Economist and Director of Research, OMFIF

Dr. Catherine L. Mann is the Global Chief Economist at Citibank since February 2018 where she is responsible for thought leadership, research guidance of a global team of , and cross-fertilization of research across macroeconomics, fixed-income, and equities. Prior to this position, she was Chief Economist at the OECD, where she also was Director of the Economics Department and was Finance Deputy to the G20 (2014-2017). Prior to the

OECD, she held the Barbara ‘54 and Richard M. Rosenberg Professor of Global Finance at the International Business School, Brandeis University, where she also directed the Rosenberg Institute of Global Finance (2006- 2014). She spent 20-plus years in Washington, DC (1984- 2006) where her positions included Senior Fellow at the Peter

G. Peterson Institute for International Economics; Economist, Senior Economist, and Assistant Director in the International Finance Division at the Federal Reserve Board of Governors; Senior International Economist on Catherine Mann the President’s Council of Economic Advisers; and Adviser to the Chief Economist at the World Bank.

Global Chief Economist, Dr. Mann received her PhD in Economics from the Massachusetts Institute of Technology and her undergraduate Citi Group degree is from Harvard University. Her written work includes more than 85 scholarly articles and seven books primarily on the topics of US external imbalances, trade, international capital flows and the dollar; and information technology and services trade in global markets.

Erik Fossing Nielsen is Group Chief Economist and Global Head of CIB Research at UniCredit. In these roles, Erik is responsible for forming and communicating the independent research views on macroeconomic and policy issues, markets and asset allocation, under the UniCredit banner. Prior to joining UniCredit in September 2011, Erik worked for fifteen years as an economist at Goldman Sachs in New York and London, where his most recent role was Chief European Economist overseeing the European and CEE economics teams. Before joining Goldman he spent ten years in Washington DC working as an economist for the IMF and World Bank in various capacities, including as country economist for and , and as a debt expert working on sovereign debt workouts around the world.

Erik is one of the most frequently quoted economists in the financial media, and appears regularly as guest host Erik F. Nielsen and commentator on Bloomberg TV, CNBC, CNN and other channels. Group Chief Economist, UniCredit

Moderator

Debora Revoltella is Chief Economist and the director of the Economics Department of the European Investment

Bank, and has held this position since April 2011. The department provides impact-driven economic analysis to

support operations, the global positioning as well as the policy and strategy definition of the bank. Debora holds a degree in economics and a masters in economics from Bocconi University as well as a PhD in economics from the University of Ancona in . After the experience as an adjunct professor in macroeconomics

at Bocconi University, Debora joined the research department of Banca Commerciale Italiana, a leading Italian

Bank. In 2001, she joined UniCredit as the chief economist for Central and Eastern Europe. During these years,

the department developed into a leading research centre for the . Debora is a member of the Steering Committees of the Vienna Initiative and the CompNet, an alternate member of the Board of the Joint Vienna Debora Revoltella Institute and a member of the Boards of the SUERF and the Euro 50 Group.

Director and Chief Economist, European Investment Bank

Thursday, 2 July 2020

Panel discussion: Pushing Europe forward globally: from banking union to capital markets union is currently the Chairman of Société Générale. He is also a CEPR Distinguished Fellow and a Senior Fellow at LUISS School of European Political Economy in Rome. He is Chairman of the Board of the Pecci Museum of Contemporary Art in Prato. He is the Honorary President of the Italian Alumni of the University of Chicago. From June 2005 to December 2011 he was a Member of the Executive Board of the European Central Bank. Over the last 20 years he held the position of Chairman of the board of Italgas, SNAM and SACE, and was member of the Board of Finmeccanica, MTS, the European Investment Bank, Morgan Stanley International and Tages Holding. He has been Visiting Scholar at Harvard’s Weatherhead Center for International Affairs and was Lorenzo Bini Smaghi the first Chairman of Fondazione Palazzo Strozzi, a cultural institution in Florence. He started his career in 1983 as an Economist in the Research Department of the Banca d’Italia. He moved in Chairman, 1994 to the European Monetary Institute, to head the Policy Division, preparing for the creation of the ECB. In Société Générale 1998 he was appointed Director General for International Affairs in the Italian Treasury. He holds a Bachelor’s Degree in Economics from the Université Catholique de Louvain (), a Master’s degree from the University of Southern California and a Ph.D in Economics from the University of Chicago. He is author of several articles and books on international and European monetary and financial issues (available in www.lorenzobinismaghi.com), in particular "Austerity: European Democracies against the Wall" (CEPS, July 2013), "33 false verità sull'Europa" (Il Mulino, April 2014) and “La tentazione di andarsene: fuori dall’Europa c’è un futuro per l’Italia?” (Il Mulino, May 2017).

Dr Elke König is Chair of the SRB, responsible for the management of the organisation, the work of the Board, the budget, all staff and the Executive and Plenary sessions of the Board. The General Counsel, the Strategy, International Relations and Communications Unit and the Internal Audit function report directly to her. She was President of the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) from 2012 until 2015. After qualifying in business administration and obtaining a doctorate, Dr König spent many years working for companies in the financial and insurance sector. From 1980 to 1990, she worked for KPMG Deutsche Treuhandgesellschaft in Cologne, auditing and advising insurance undertakings, from 1986 as a holder of a special statutory authority (Prokuristin) and from 1988 as a Elke König director and partner. From 1990 to 2002, Dr König was a member of the senior management of the Munich Re Group (Head of Accounting); she then moved to Hannover Rückversicherung AG as Chief Financial Officer. From Chair, 2010 to the end of 2011, Dr König was a member of the International Accounting Standards Board (IASB) in Single Resolution Board Group London. Dr König was also a representative of the Supervisory Board of the Single Supervisory Mechanism.

Peter Praet has been Executive Board member of the ECB and its Chief economist from June 2011 to May 2019. In this capacity, he was responsible for preparing the monetary policy meetings and making the proposals for the policy decisions. From 2011 to 2014, he was also in charge of budget, organisation and human resources of the ECB, a period that includes the establishment of the Single Supervisory Mechanism. gained a PhD in economics from the Université Libre de Bruxelles (ULB). He was an economist at the International Monetary Fund (1978-1980), Professor of Economics at ULB (1980-1987) and Chief economist Peter Praet of Générale de Banque, subsequently Fortis Bank (1987-1999).From 1999 to 2000 he was Chief of Staff of the Minister of Finance of Belgium, particularly involved in an important tax reform and a redesign of banking and Executive Board Member, insurance supervision. European Central Bank In 2000 Peter Praet was appointed Executive Board member of the Central bank of Belgium (BNB/NBB), responsible for International Cooperation, Oversight of Financial and Payments Infrastructures and Financial Stability, a new activity for the central bank which he initiated. During his term at the central bank he was appointed Executive Board member of the Belgian Banking, Financial and Insurance Commission, the Belgian integrated financial supervisor (2002-2011). He was in charge of banking and insurance regulation. In 2008 Peter Praet was nominated member of the Steering Committee in charge of managing the Belgian systemic banking crisis. Until his appointment for an 8-year term at the ECB Peter Praet continued to teach Money and Banking at ULB. Peter Praet has served on a number of high level international and european committees. In the BIS: the Basel Committee on Banking Supervision (BCBS), the Committee on Payments and Settlement Systems (CPSS), the Committee on the Global Financial System (CGFS). In the : the European Banking Authority (previously the Committee of European Banking Supervisors) and, as chair, the ECB Banking Supervision Committee (BSC). At the OECD he succeeded Stan Fischer as chair of the Working Party 3 (2018-2019).

Thomas Wieser was Director General of the Austrian Ministry of Finance from 1999 to 2012. From 2012 to 2018 he was the Brussels based President of the EU’s Economic and Financial Committee, and of the Working Group. More recently he has chaired the EU’s High Level Forum on Capital Markets Union, and the EU’s Wise Persons Group on the Financial Architecture for Development. He is a non-resident fellow of Bruegel, the Brussels Think Tank.

Thomas Wieser

Chair of High-Level Forum on Capital Markets Union, European Commission

Corien Wortmann-Kool (1959) is chairman of the Board of ABP Pension Fund since January 1st 2015. ABP is the Dutch Public Sector Pension Fund (2,9 million participants, EUR 420 billion assets under management). She is also vice chairman of the Supervisory Board of Aegon N.V. In 2019 she was co-chair of the Next CMU High Level Group. Until July 1st , 2014 she was a member of the European Parliament and vice president of the EPP group on Financial, Economic and Monetary Affairs. Before 2004, Corien was director at the Ministry of Transport. Corien holds a Masters Degree in Political Science and Economics from the VU University in Amsterdam. Corien Wortmann-Kool is also vice chairman of the Supervisory Board of Kadaster and chairman of the Board of Trustees of Save the Children Netherlands. Corien Wortmann-Kool

Board Chair, ABP Pension Fund

Panel discussion: 10 years of saving Europe: A market perspective

Cristina Casalinho has an undergraduate degree in Economics from the Faculdade de Economia e Ciências Empresariais of Universidade Católica Portuguesa and a MsC in Business from Universidade Nova de Lisboa. She is the CEO of the Portuguese Treasury and Government Debt Management Agency (IGCP) since September 2014, after being Executive Director at the Agency from June 2012 to September 2014. Previously, she was chief-economist at Banco BPI, a position she held for nine years, after occupying several positions at that bank.

Cristina Casalinho

President, Portuguese Treasury and Government Debt Agency

Christian Kopf joined Union Investment in 2017 as Head of Fixed Income. Based in Frankfurt, he oversees a team of close to 60 investment managers and more than € 73 billion in actively managed assets. Prior to joining Union Investment, Christian was a partner in the London office of Spinnaker Capital, a dedicated Emerging Markets asset management firm, where he was responsible for global strategy and for risk allocation in currencies, rates and sovereign debt across the European and Asian time zones. From 1999 to 2016, Christian worked as a senior portfolio manager at DWS Investments in Frankfurt.

Christian has published various papers on sovereign debt and has spoken on global financial issues at international institutions such as the BIS, Brookings, the European Commission, G-20 and the IMF. He sits on Christian Kopf advisory panels to the ECB and the EIB and is a member of the Euro50 Group, an informal advisory group to

European institutions. Christian holds a master’s degree in economics from Witten/Herdecke University in Head of Portfolio Management Fixed Income, . Union Investment

Pablo was appointed Director General of the Treasury and Financial Policy in February 2020. His work involves, among other tasks, Spain’s financial sector regulation; devising and executing the Kingdom of Spain’s funding programme; the promotion of the Spanish debt in Spain and in roadshows abroad; the coordination of the capital markets presence of the different public-sector issuers; the supervision of the treasury management; and the inspection and control of capital movements for the purposes of the fight against money laundering and terrorism finance. He is also Chairman of the EFC’s Subcommittee on European Sovereign Debt Management (ESDM) since August 2019, as well as a member of several committees related with his different policy areas. Before his promotion to Director General, Pablo was Head of Funding and Debt Management at the Spanish Treasury since November 2013, a team he joined in September 2008. Before joining the Spanish Treasury, he

worked as an economist in the 's Financial Crisis Management Department. Pablo is a member Pablo de Ramón-Laca of the High Corps of State Economists and Trade Experts, and he holds a BA (Hons) degree in Philosophy, Politics and Economics from the University of Oxford, and an MSc in Economics from the London School of Director General, Economics and Political Science. Treasury and Financial Policy, General Secretariat of the Treasury and International Finance (Spanish Treasury), Ministry of Economic Affairs and Digital Transformation, Spain

Previous Positions: Alternate Director General, Public Debt Management Agency (PDMA), Jan 2018 – July 2019. Director of Funding & Portfolio Management Directorate, PDMA, Feb 2015 – Jan 2018. Expert and Head of Department A’, Public Debt Directorate, Ministry of Finance (MoF), March 2009 – Feb 2015. Expert, Portfolio Management Department, PDMA, Oct 1999 – March 2009 Expert, Department A’, Public Debt Directorate, May 1995 – Oct 1999. National School of Public Administration, Dec 1992 – May 1995 Mobil Oil Hellas S.A.: June 1989 – March 1992

Greek Army: Officer, June 1986 – Oct 1988. Dimitris Tsakonas Studies: MSc in Banking and Finance, University of Economics and Business, Sept 1998 – June 1999. Director General, Greek National School of Public Administration, Dec 1992 – May 1995. Public Debt Management Mathematics, University of Ioannina, Oct 1981 – Feb 1986. Agency, Greece

Moderator Rolf Strauch is Chief Economist and Management Board Member. He joined the European Financial Stability Facility (EFSF) in July 2010. He is responsible for Economic and Market Analysis, Banking, as well as strategic orientation, and the country monitoring work that the ESM and EFSF undertake. He represents the ESM and EFSF in European fora, negotiates with Member States, and handles relations with credit rating agencies. Prior to this, Mr Strauch worked at the European Central Bank from 2000–2010 in the Directorate General Economics on fiscal, monetary, and structural policies. He also served previously as an economist at the and as a researcher at both the University of Mannheim and the University of Bonn. Mr Strauch holds a Ph.D. in Economics from the University of Bonn. He is a fellow at the Center for European Rolf Strauch Integration Studies (ZEI) in Bonn. He is the author of numerous articles and economic publications

Chief Economist, European Stability Mechanism

Panel discussion: Response to Covid-19: the impact for funding

An Irish national, and economics graduate from Trinity College Dublin and the College of Europe, Bruges, Niall Bohan has held a number of technical and management roles since joining the European Commission in 1994. Between 2004-2017, he served as Head of Unit for the Asset Management, Banking and Capital Markets Union

units in the DG responsible for financial stability and capital markets. Between 2011 and 2013, Mr. Bohan served

in the Task Force for Greece where he coordinated the provision of technical assistance to the Greek government to support reform of customs, public procurement, competition and investment licensing. In late 2017, he transferred to DG ECFIN where he led the unit responsible for legal and institutional affairs and

risk management. Since mid-2019, Niall Bohan has served as head of the Commission Treasury and from Niall Bohan 01.01.2020 as Acting Director for Directorate E of DG Budget. This Directorate oversees the management of the budgetary guarantees provided by the Union budget to support investment (EFSI/EFSD), manages the financial Acting Director, Asset and assets owned by the Union budget, and will undertake the borrowing and lending operations needed to implement Financial Risk Management, the EU Recovery Plan. Directorate-General for the EU Budget, European Commission

Ms Eila Kreivi is Director and Head of the Capital Markets Department.

Previously, Ms Eila Kreivi worked as Head of Funding for the Americas, Asia & Pacific for 7 years at the EIB. Prior to joining the financing arm of the European Union in 1995, Ms. Kreivi worked at the Union Bank of and Société Générale, in several domains including commercial banking, derivative products, treasury and capital markets.

She holds a Master of Science degree in Economics from the University of Abo Akademi in Finland. In addition to her native language of Finnish, she is fluent in English, French and Swedish.

Ms Kreivi Chaired the Executive Committee of the Green Principles between 2015-2018. She has Eila Kreivi represented the EIB as observer at the EU High-level Expert Group on Sustainable Finance in 2017-2018, established by the European Commission. Director, Head of the Capital Currently, Ms Kreivi is an alternate member of the Board of Directors of the (EIF). Markets Department, She also represents the EIB as a member of the Technical Expert Group on Sustainable Finance created by the

European Investment Bank European Commission in 2018.

Siegfried Ruhl is Head of Funding & Investor Relations for European Stability Mechanism (ESM) where he is responsible for the funding programmes for both ESM and European Financial Stability Facility (EFSF). Mr Ruhl officially joined ESM in January 2013 but he was already heading the team that established the funding programme for EFSF at the Bundesrepublik Deutschland Finanzagentur, which was initially responsible for issuing the EFSF bonds and bills. Prior to this, he had worked in the trading and issuing business at the Bundesrepublik Deutschland Finanzagentur for 11 years.

Siegfried Ruhl He also worked for the Deutsche Bundesbank for six years. Mr Ruhl graduated in Business Administration from the University of Applied Science in Hachenburg. Head of Funding and Investor Relations, European Stability Mechanism

Moderator

Sarah has worked for the ESM since the very beginning when its predecessor the temporary institution, the EFSF, was created in 2010. First of all, she worked in the communications department then in 2012, she joined the Funding department to help set up the Investor Relations team. Before that she was Marketing Director at the French asset management house, Carmignac Gestion. She worked as well in International Marketing for Amundi based in both Luxembourg and Paris. She holds a BA Honours Degree in French and Spanish from the University of Sheffield.

Sarah Fouqueray-Carrick

Team Lead, Investor Relations, European Stability Mechanism

Keynote Speech: Financing the EU Recovery: building a new market for EU recovery bonds

Gert Jan Koopman has been the Director-General of the European Commission’s budget department (DG BUDGET) since August 2018. In this role, he is overseeing the EU Budget as well as financial programming, accounting and financial rules. Mr Koopman is currently leading the Commission’s team that provides technical support to the ongoing negotiations on EU’s next long-term budget. Previously, Mr Koopman was in charge of State Aid control as Deputy Director-General at the Commission’s Directorate-General for Competition (DG COMP). His earlier assignments included Director posts in the Commission's departments for “Economic and Financial affairs” (DG ECFIN) as well as “Enterprise and Industry” Gert Jan Koopman (DG GROW). In the past, Mr Koopman was a member of the Commission’s Impact Assessment Board. He worked in the Cabinets of Vice-President Kinnock – lastly as a Head of Cabinet. Prior to joining the Commission, Director General, DG Budget, Mr Koopman was an associate of the Netherlands Bureau for Economic Policy Research (CPB). A Dutch national, European Commission he holds degrees in Economics and Latin and Greek from the University of Amsterdam.

Closing remarks

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