Join Moody’s leading subject matter experts and distinguished guest speakers to discuss key trends and developments impacting credit markets across Central Europe
15th Annual Central Europe Summit
Explore the impact of inflation, geopolitics and the energy crisis on credit in the CEE region
Registration for this event is now closed. Please contact events.emea@moodys.com if you have any questions
Agenda
08:15
- 09:00
CEST
Registration and welcome refreshments
09:50
- 10:30
CEST
Sovereign and sub-sovereign insights
Energy crisis and geopolitics test CEE’s resilience
- How resilient will the region be to geopolitics and the impact of the economic, fiscal and social effects of Europe's energy crisis?
- When will the tightening cycle of monetary policy peak amid elevated inflation?
- What are the key drivers of the Czech Republic’s creditworthiness in the near and medium-term?
- To what extent will inflation and social pressures affect Czech RLGs’ credit profiles?
10:30
- 10:40
CEST
Moody's insights: A focus on the CEE banking sector
Ongoing energy supply shock and weaker macroeconomic conditions drive our negative outlook for CEE banks
- To what extent will deteriorating business conditions and high rates hurt loan demand and credit quality?
- Will government measures and higher costs outweigh the profitability benefits from higher rates?
- Will banks in the region meet final MREL deadlines amid high investor risk aversion?
10:40
- 11:10
CEST
11:10
- 11:40
CEST
Networking break
11:40
- 12:00
CEST
12:00
- 12:30
CEST
Does the energy crisis make utilities more vulnerable?
- Elevated power prices increase operational and liquidity risk
- Does Europe still face a gas shortage risk?
- Affordability concerns increases political interference to protect end-customers
- What are the options for a new market design in Europe?
- Are decarbonisation targets at risk?
12:30
- 13:05
CEST
Covered bonds deep dive
Mortgage lending in a higher interest rate and softening house price environment: Current situation, lessons learnt, and expected developments
- Impact of higher rates and high consumer price inflation on household budgets
- What does this mean for new business volumes and the performance of existing loan stock?
- Update on property supply: What is the situation regarding property developments?
13:10
- 14:10
CEST
Networking lunch
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David Aldrich is Managing Director, EMEA Commercial Group, with responsibility for Moody’s customer relationships in the Emerging Markets and Global Sovereigns & Supranationals. David is also Managing Director, Regional Management, with responsibility for MIS strategy and Country Management in E-EMEA Emerging Markets.
In respect of his Commercial Group responsibilities, he leads and manages the origination and retention of ratings mandates globally for Sovereigns and Supranationals, and, in EMEA Emerging Markets, for Corporates, Financial Institutions, Project Infrastructure and Public Finance, including Russia & CIS, Central and Eastern Europe, Middle East and Africa.
Prior to joining Moody’s in 2013, David managed fixed income, derivatives and securities services businesses in four banks: UBS, Credit Suisse, JP Morgan and BNY Mellon. Immediately prior to joining Moody’s in 2013, David was a business executive at BNY Mellon, based in London, responsible for Alternative Investment Services, Broker-Dealer Services, Global Client Management, Strategy and was also Head of Securities Industry Banking Europe. David studied Economics at the University of Kent and sits on the MBA Advisory Board at Cass Business School, City University London.
Igor Ovcacik is Country Manager for the Czech Republic and Vice President /Relationship Manager for selected Central & Eastern Europe (CEE) countries, located in Prague, the Czech Republic. He is responsible for business development, acquiring new customers and managing relationship in the region.
Igor has extensive banking experience, having worked in Czech and international banks for more than 25 years. His track record covers corporate relationship management, structured finance, syndications, acquisition finance, real estatefinance, public sector finance, renewable energy finance and export finance.
Igor holds an Ing of economics diploma from Prague School of Economics /University, Finance and Credit.
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 MIS, 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.
Jakub Seidler is the Chief economist of the Czech Banking Association. He studied economics at the Institute of Economic Studies of Charles University in Prague, where he also received a PhD. He completed a number of courses focused on econometrics, financial stability and monetary policy in international institutions such as the International Monetary Fund, the ECB, and the Bank of England.
He started his career in 2008 at the Czech National Bank, where he worked for six years in various professional positions in the financial stability department, research and in the monetary section. Later, as the head of the macroprudential policy unit, he was mainly responsible for stress tests of the banking sector and analysis in the area of financial stability. Since 2018, he serves as deputy chairman of the Committee for Budget Forecasts, which assesses the objectivity of the Ministry of Finance's forecasts. Between 2014 and 2021, he worked as the Chief economist of ING Bank for the Czech Republic.
| Heiko Peters is a Vice President - Senior Analyst in Moody’s Sovereign Risk Group, and is based in the Frankfurt office. He has Lead Analyst responsibilities for a number of European sovereigns and supra-nationals, producing ratings and research related to their creditworthiness. Heiko joined Moody’s from Deutsche Bank AG, where he was Senior Economist - Vice President in the European Economics Team of Deutsche Bank Research for more than five years. He published research on economic and political topics, including global trade, labour markets, demographics and migration, and covered in particular the economies of Germany and Austria. Prior to that he had worked from 2009 to 2011 as an Economist for the German Council of Economic Experts in Wiesbaden, reporting to the Chair of the Council. Moreover, his professional background includes stints at the Deutsche Bundesbank (Visiting Researcher), Germany’s Monopolies Commission and the German Institute for Economic Research (DIW), both as a Visiting Fellow. He holds a PhD, a Master’s level diploma and a BSc in Economics from the University of Muenster. |
Helena Horská is Chief Economist at Raiffeisenbank in Prague, and since 2019 has been a member of Raiffeisenbank’s Supervisory Board. Now, she is also a member of National Economic Committee Advisors and independent advisor of the Czech Prime Minister.
Gjorgji Josifov joined Moody’s in 2011 as Assistant Vice President – Analyst within the Sub-Sovereign Group, covering a comprehensive portfolio of regional and local governments as well as government related issuers in various countries of Central and Eastern Europe including Bosnia and Herzegovina, Croatia, Czech Republic, Estonia, Greece, Hungary, Latvia, Poland, Romania, Serbia, Turkey and Ukraine.
Prior to joining Moody’s, Gjorgji served as Chief of Party of the USAID-funded Macedonia Local Government Project (2007-2011). Along with the Chief of Party position he managed the Capital Budgeting and Municipal Credit project components. He has more than 15 years of experience in public policy reform and financial management, with 10 years working on improving local government finance and municipal service delivery in South-East Europe.
Gjorgji holds a Master Degree in European Integration and Regionalism from Karl Franzens University of Graz and a Certificate in Intergovernmental Fiscal Relations and Financial Management from Central European University of Budapest. He earned a BS in economics from University of “Ss. Cyril and Methodius in Skopje.
Katja Reise is a Vice President and lead analyst in the Europe, Middle East and Africa banking team, based in Frankfurt. In this capacity, she provides rating analysis for a range of financial institutions in several Central and Eastern Europe (CEE) countries.
Katja enjoys more than 20 years of work experience in the banking industry, with an emphasis on bank credit analysis and European debt capital markets. Prior to joining Moody’s, Katja was a Senior Credit Analyst with leading analytical responsibility for banks in CEE, Turkey and the Middle East at Capital Intelligence Ratings, a rating agency specialized on emerging markets. Her career further spans positions as credit analyst and debt capital market expert for financial institutions, European corporates and public sector authorities at UniCredit Bank AG and Rentenbank, a German development agency.
Katja is a German-certified banker and holds a degree in Business Administration from the Academy of Administration and Economy (Verwaltungs- undWirtschaftsakademie), Munich
Pepa Mori is a Senior Vice President in the Financial Institutions Group. She joined Moody’s in 2008 as part of the Iberian team. Since then she has managed a wide portfolio of issuers, currently covering banks in Italy and Spain. She also has oversight responsibilities for Moody’s banks ratings in Central Eastern Europe.
Prior to joining Moody’s, Ms. Mori worked as a credit analyst in a variety of roles. These include credit research at BBVA, rating European sub-sovereigns and public sector companies at Standard & Poor’s; and financial analysis at BBVA’s asset management division. Ms. Mori holds a Bachelor Degree in Business Administration and MSc in Finance from Colegio Universitario de Estudios Financieros (CUNEF), Madrid (Spain).
Josef Rech is the Chief Security Officer of Česká spořitelna a.s , the largest bank in the Czech market. In his role, he is managing information and data security, governance, payment card and eChannels transaction monitoring, CSIRT, BCM and physical security, thereby actively cooperating within ERSTE Group. After having spanned various positions in the telecommunication sector for 16 years, in course of the last six years Josef gained extensive footprint in the Czech banking sector. He started his career in T-Mobile in the Security projects team, followed by the Information protection unit and later the Business Security unit. After 10 years, he moved to the Deutsche Telekom Security Competence Centre providing security services within the DTAG company and their subsidiaries. After MBA studies, he moved to Raiffeisenbank as a Security director and was appraised with the Security Award.
Katja Reise is a Vice President and lead analyst in the Europe, Middle East and Africa banking team, based in Frankfurt. In this capacity, she provides rating analysis for a range of financial institutions in several Central and Eastern Europe (CEE) countries.
Katja enjoys more than 20 years of work experience in the banking industry, with an emphasis on bank credit analysis and European debt capital markets. Prior to joining Moody’s, Katja was a Senior Credit Analyst with leading analytical responsibility for banks in CEE, Turkey and the Middle East at Capital Intelligence Ratings, a rating agency specialized on emerging markets. Her career further spans positions as credit analyst and debt capital market expert for financial institutions, European corporates and public sector authorities at UniCredit Bank AG and Rentenbank, a German development agency.
Katja is a German-certified banker and holds a degree in Business Administration from the Academy of Administration and Economy (Verwaltungs- undWirtschaftsakademie), Munich
Céline Chérubin is a senior credit officer in the EMEA Infrastructure Finance Group, based in Paris. She has responsibility for a portfolio of unregulated utilities in France, Belgium, Italy and the Czech Republic as well as water and waste management companies in France.
Céline has considerable experience of assessing utilities and infrastructure in Europe, with an in-depth knowledge of business models, strategies and stakeholders. She has a particular focus on the French market but also benefits from experience of a broad range of other jurisdictions.
Moody’s has a leading global Infrastructure Finance franchise, rating some US$2.8trillion of corporate and project finance securities. Our team of 148 analytical staff covers more than 2,700 public and private sector infrastructure issuers globally. Moody’s EMEA team of 48 infrastructure specialists is responsible for rating around 330 issuers with approximately US$756 billion in debt outstanding. Moody’s Investors Service covers a total of more than 35,000 issuers and structured finance transactions worldwide, representing more than US$73 trillion in rated debt.
Before joining Moody’s in April 2019, Céline worked for Infravia, a French infrastructure investment company, where she was responsible for investor relations and the fundraising of the fourth infrastructure fund. Prior to this, she had an extended career as a sell side equity analyst covering European utilities for more than 12 years. She has also taught classes in accounting, P&L diagnostics and cashflow analysis for the Société Française des Analystes Financiers.
Céline holds a degree in business administration (DESCAFF) from the Bordeaux Business School. She is fluent in English and French.
Sebastien is a Vice President – Senior Credit Officer at Moody’s in the EMEA Corporate Finance Group based in London. He is part of the European telecommunications team and covers telecom and media companies based in the United Kingdom, Switzerland, and Norway. Between 2011 and 2018, Sebastien was responsible for a portfolio of mainly European high yield issuers operating in industries including payment solutions, business and consumer services, equipment and transportation rental services, and retail.
Prior to re-joining Moody’s in 2011, Sebastien was an analyst within the credit team at LGT Capital Partners (fund of hedge funds based in Switzerland), where he monitored a portfolio of investments in distressed credit/special situations hedge funds.
Sebastien holds a Master’s Degree from Audencia Business School in Nantes (France) and a post-graduate diploma from the College of Europe in Warsaw (Poland).
Céline Chérubin is a senior credit officer in the EMEA Infrastructure Finance Group, based in Paris. She has responsibility for a portfolio of unregulated utilities in France, Belgium, Italy and the Czech Republic as well as water and waste management companies in France.
Céline has considerable experience of assessing utilities and infrastructure in Europe, with an in-depth knowledge of business models, strategies and stakeholders. She has a particular focus on the French market but also benefits from experience of a broad range of other jurisdictions.
Moody’s has a leading global Infrastructure Finance franchise, rating some US$2.8trillion of corporate and project finance securities. Our team of 148 analytical staff covers more than 2,700 public and private sector infrastructure issuers globally. Moody’s EMEA team of 48 infrastructure specialists is responsible for rating around 330 issuers with approximately US$756 billion in debt outstanding. Moody’s Investors Service covers a total of more than 35,000 issuers and structured finance transactions worldwide, representing more than US$73 trillion in rated debt.
Before joining Moody’s in April 2019, Céline worked for Infravia, a French infrastructure investment company, where she was responsible for investor relations and the fundraising of the fourth infrastructure fund. Prior to this, she had an extended career as a sell side equity analyst covering European utilities for more than 12 years. She has also taught classes in accounting, P&L diagnostics and cashflow analysis for the Société Française des Analystes Financiers.
Céline holds a degree in business administration (DESCAFF) from the Bordeaux Business School. She is fluent in English and French.
Member of the Board of Directors since May 21, 2008
Chief Financial and Operations Officer since January 1, 2016
Martin Novák graduated from the University of Economics in Prague and started his career as a tax advisor at PriceWaterhouse in 1994. From here he moved on to Česká rafinérská, where he worked from 1996 to 2001. He spent the next 5 years at Conoco in Houston, ConocoPhillips in London and ConocoPhillips in Prague. In 2007 he undertook the Executive MBA programme at the University of Pittsburgh.
He has been working in the CEZ Group since 2006. Since 1 January 2008, he has been the Finance Division Director of CEZ Group. Since May 2008, he has been the Member of the Board of Directors. He was Vice-Chairman of the Board of Directors (20th October 2011 - 31th December 2019). In the course of his employment with the CEZ Group, he has managed to accelerate considerably the reporting of results, simplify many processes, reduce the number of Group accounting departments and improve the efficiency of provided services with a direct impact on cost reduction. Since January 2016, he has been the Chief Financial and Operations Officer.
| Martin Lenhard has been working as a Covered Bond Analyst in Moody’s Frankfurt office since April 2011. He currently covers German, Dutch and Polish issuers and co-ordinates the analytical approach to covered bonds from the CEE region. Prior to transferring to Moody’s Covered Bonds Team, he primarily focused on analysing RMBS transactions from a variety of European markets, as well as German ABS transactions. Martin joined Moody’s in 2003 following the completion of his university studies in Mannheim (Germany). |
Ondřej Hak is a manager and financial services expert with many years of experience in mortgage and consumer lending. He joined Raiffeisen CZ as a member of the senior management of the former Equa bank, which Raiffeisen took over in 2021. He has spent eight years of his career in credit risk management in the banking sector, including from 2008 to 2010. For the last 12 years he has held various management positions in the commercial parts of banks. He is very familiar with the Czech mortgage and consumer finance market.
David Aldrich is Managing Director, EMEA Commercial Group, with responsibility for Moody’s customer relationships in the Emerging Markets and Global Sovereigns & Supranationals. David is also Managing Director, Regional Management, with responsibility for MIS strategy and Country Management in E-EMEA Emerging Markets.
In respect of his Commercial Group responsibilities, he leads and manages the origination and retention of ratings mandates globally for Sovereigns and Supranationals, and, in EMEA Emerging Markets, for Corporates, Financial Institutions, Project Infrastructure and Public Finance, including Russia & CIS, Central and Eastern Europe, Middle East and Africa.
Prior to joining Moody’s in 2013, David managed fixed income, derivatives and securities services businesses in four banks: UBS, Credit Suisse, JP Morgan and BNY Mellon. Immediately prior to joining Moody’s in 2013, David was a business executive at BNY Mellon, based in London, responsible for Alternative Investment Services, Broker-Dealer Services, Global Client Management, Strategy and was also Head of Securities Industry Banking Europe. David studied Economics at the University of Kent and sits on the MBA Advisory Board at Cass Business School, City University London.
Jakub Seidler is the Chief economist of the Czech Banking Association. He studied economics at the Institute of Economic Studies of Charles University in Prague, where he also received a PhD. He completed a number of courses focused on econometrics, financial stability and monetary policy in international institutions such as the International Monetary Fund, the ECB, and the Bank of England.
He started his career in 2008 at the Czech National Bank, where he worked for six years in various professional positions in the financial stability department, research and in the monetary section. Later, as the head of the macroprudential policy unit, he was mainly responsible for stress tests of the banking sector and analysis in the area of financial stability. Since 2018, he serves as deputy chairman of the Committee for Budget Forecasts, which assesses the objectivity of the Ministry of Finance's forecasts. Between 2014 and 2021, he worked as the Chief economist of ING Bank for the Czech Republic.
Helena Horská is Chief Economist at Raiffeisenbank in Prague, and since 2019 has been a member of Raiffeisenbank’s Supervisory Board. Now, she is also a member of National Economic Committee Advisors and independent advisor of the Czech Prime Minister.
Josef Rech is the Chief Security Officer of Česká spořitelna a.s , the largest bank in the Czech market. In his role, he is managing information and data security, governance, payment card and eChannels transaction monitoring, CSIRT, BCM and physical security, thereby actively cooperating within ERSTE Group. After having spanned various positions in the telecommunication sector for 16 years, in course of the last six years Josef gained extensive footprint in the Czech banking sector. He started his career in T-Mobile in the Security projects team, followed by the Information protection unit and later the Business Security unit. After 10 years, he moved to the Deutsche Telekom Security Competence Centre providing security services within the DTAG company and their subsidiaries. After MBA studies, he moved to Raiffeisenbank as a Security director and was appraised with the Security Award.
Member of the Board of Directors since May 21, 2008
Chief Financial and Operations Officer since January 1, 2016
Martin Novák graduated from the University of Economics in Prague and started his career as a tax advisor at PriceWaterhouse in 1994. From here he moved on to Česká rafinérská, where he worked from 1996 to 2001. He spent the next 5 years at Conoco in Houston, ConocoPhillips in London and ConocoPhillips in Prague. In 2007 he undertook the Executive MBA programme at the University of Pittsburgh.
He has been working in the CEZ Group since 2006. Since 1 January 2008, he has been the Finance Division Director of CEZ Group. Since May 2008, he has been the Member of the Board of Directors. He was Vice-Chairman of the Board of Directors (20th October 2011 - 31th December 2019). In the course of his employment with the CEZ Group, he has managed to accelerate considerably the reporting of results, simplify many processes, reduce the number of Group accounting departments and improve the efficiency of provided services with a direct impact on cost reduction. Since January 2016, he has been the Chief Financial and Operations Officer.
David Aldrich is Managing Director, EMEA Commercial Group, with responsibility for Moody’s customer relationships in the Emerging Markets and Global Sovereigns & Supranationals. David is also Managing Director, Regional Management, with responsibility for MIS strategy and Country Management in E-EMEA Emerging Markets.
In respect of his Commercial Group responsibilities, he leads and manages the origination and retention of ratings mandates globally for Sovereigns and Supranationals, and, in EMEA Emerging Markets, for Corporates, Financial Institutions, Project Infrastructure and Public Finance, including Russia & CIS, Central and Eastern Europe, Middle East and Africa.
Prior to joining Moody’s in 2013, David managed fixed income, derivatives and securities services businesses in four banks: UBS, Credit Suisse, JP Morgan and BNY Mellon. Immediately prior to joining Moody’s in 2013, David was a business executive at BNY Mellon, based in London, responsible for Alternative Investment Services, Broker-Dealer Services, Global Client Management, Strategy and was also Head of Securities Industry Banking Europe. David studied Economics at the University of Kent and sits on the MBA Advisory Board at Cass Business School, City University London.
Igor Ovcacik is Country Manager for the Czech Republic and Vice President /Relationship Manager for selected Central & Eastern Europe (CEE) countries, located in Prague, the Czech Republic. He is responsible for business development, acquiring new customers and managing relationship in the region.
Igor has extensive banking experience, having worked in Czech and international banks for more than 25 years. His track record covers corporate relationship management, structured finance, syndications, acquisition finance, real estatefinance, public sector finance, renewable energy finance and export finance.
Igor holds an Ing of economics diploma from Prague School of Economics /University, Finance and Credit.
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 MIS, 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.
| Heiko Peters is a Vice President - Senior Analyst in Moody’s Sovereign Risk Group, and is based in the Frankfurt office. He has Lead Analyst responsibilities for a number of European sovereigns and supra-nationals, producing ratings and research related to their creditworthiness. Heiko joined Moody’s from Deutsche Bank AG, where he was Senior Economist - Vice President in the European Economics Team of Deutsche Bank Research for more than five years. He published research on economic and political topics, including global trade, labour markets, demographics and migration, and covered in particular the economies of Germany and Austria. Prior to that he had worked from 2009 to 2011 as an Economist for the German Council of Economic Experts in Wiesbaden, reporting to the Chair of the Council. Moreover, his professional background includes stints at the Deutsche Bundesbank (Visiting Researcher), Germany’s Monopolies Commission and the German Institute for Economic Research (DIW), both as a Visiting Fellow. He holds a PhD, a Master’s level diploma and a BSc in Economics from the University of Muenster. |
Gjorgji Josifov joined Moody’s in 2011 as Assistant Vice President – Analyst within the Sub-Sovereign Group, covering a comprehensive portfolio of regional and local governments as well as government related issuers in various countries of Central and Eastern Europe including Bosnia and Herzegovina, Croatia, Czech Republic, Estonia, Greece, Hungary, Latvia, Poland, Romania, Serbia, Turkey and Ukraine.
Prior to joining Moody’s, Gjorgji served as Chief of Party of the USAID-funded Macedonia Local Government Project (2007-2011). Along with the Chief of Party position he managed the Capital Budgeting and Municipal Credit project components. He has more than 15 years of experience in public policy reform and financial management, with 10 years working on improving local government finance and municipal service delivery in South-East Europe.
Gjorgji holds a Master Degree in European Integration and Regionalism from Karl Franzens University of Graz and a Certificate in Intergovernmental Fiscal Relations and Financial Management from Central European University of Budapest. He earned a BS in economics from University of “Ss. Cyril and Methodius in Skopje.
Katja Reise is a Vice President and lead analyst in the Europe, Middle East and Africa banking team, based in Frankfurt. In this capacity, she provides rating analysis for a range of financial institutions in several Central and Eastern Europe (CEE) countries.
Katja enjoys more than 20 years of work experience in the banking industry, with an emphasis on bank credit analysis and European debt capital markets. Prior to joining Moody’s, Katja was a Senior Credit Analyst with leading analytical responsibility for banks in CEE, Turkey and the Middle East at Capital Intelligence Ratings, a rating agency specialized on emerging markets. Her career further spans positions as credit analyst and debt capital market expert for financial institutions, European corporates and public sector authorities at UniCredit Bank AG and Rentenbank, a German development agency.
Katja is a German-certified banker and holds a degree in Business Administration from the Academy of Administration and Economy (Verwaltungs- undWirtschaftsakademie), Munich
Pepa Mori is a Senior Vice President in the Financial Institutions Group. She joined Moody’s in 2008 as part of the Iberian team. Since then she has managed a wide portfolio of issuers, currently covering banks in Italy and Spain. She also has oversight responsibilities for Moody’s banks ratings in Central Eastern Europe.
Prior to joining Moody’s, Ms. Mori worked as a credit analyst in a variety of roles. These include credit research at BBVA, rating European sub-sovereigns and public sector companies at Standard & Poor’s; and financial analysis at BBVA’s asset management division. Ms. Mori holds a Bachelor Degree in Business Administration and MSc in Finance from Colegio Universitario de Estudios Financieros (CUNEF), Madrid (Spain).
Céline Chérubin is a senior credit officer in the EMEA Infrastructure Finance Group, based in Paris. She has responsibility for a portfolio of unregulated utilities in France, Belgium, Italy and the Czech Republic as well as water and waste management companies in France.
Céline has considerable experience of assessing utilities and infrastructure in Europe, with an in-depth knowledge of business models, strategies and stakeholders. She has a particular focus on the French market but also benefits from experience of a broad range of other jurisdictions.
Moody’s has a leading global Infrastructure Finance franchise, rating some US$2.8trillion of corporate and project finance securities. Our team of 148 analytical staff covers more than 2,700 public and private sector infrastructure issuers globally. Moody’s EMEA team of 48 infrastructure specialists is responsible for rating around 330 issuers with approximately US$756 billion in debt outstanding. Moody’s Investors Service covers a total of more than 35,000 issuers and structured finance transactions worldwide, representing more than US$73 trillion in rated debt.
Before joining Moody’s in April 2019, Céline worked for Infravia, a French infrastructure investment company, where she was responsible for investor relations and the fundraising of the fourth infrastructure fund. Prior to this, she had an extended career as a sell side equity analyst covering European utilities for more than 12 years. She has also taught classes in accounting, P&L diagnostics and cashflow analysis for the Société Française des Analystes Financiers.
Céline holds a degree in business administration (DESCAFF) from the Bordeaux Business School. She is fluent in English and French.
Sebastien is a Vice President – Senior Credit Officer at Moody’s in the EMEA Corporate Finance Group based in London. He is part of the European telecommunications team and covers telecom and media companies based in the United Kingdom, Switzerland, and Norway. Between 2011 and 2018, Sebastien was responsible for a portfolio of mainly European high yield issuers operating in industries including payment solutions, business and consumer services, equipment and transportation rental services, and retail.
Prior to re-joining Moody’s in 2011, Sebastien was an analyst within the credit team at LGT Capital Partners (fund of hedge funds based in Switzerland), where he monitored a portfolio of investments in distressed credit/special situations hedge funds.
Sebastien holds a Master’s Degree from Audencia Business School in Nantes (France) and a post-graduate diploma from the College of Europe in Warsaw (Poland).
| Martin Lenhard has been working as a Covered Bond Analyst in Moody’s Frankfurt office since April 2011. He currently covers German, Dutch and Polish issuers and co-ordinates the analytical approach to covered bonds from the CEE region. Prior to transferring to Moody’s Covered Bonds Team, he primarily focused on analysing RMBS transactions from a variety of European markets, as well as German ABS transactions. Martin joined Moody’s in 2003 following the completion of his university studies in Mannheim (Germany). |