Agenda
Registration and networking
President's address
Opportunities and challenges facing US regional banks
Hot topics in North American banking and consumer finance
A panel of senior Moody’s analysts will explore some of the key credit topics that are affecting the creditworthiness of US and Canadian banks and other financial institutions:
- Impact of higher inflation, tighter monetary policy and reduced debt affordability
- Challenges and opportunities presented by rising interest rates
- Credit quality hot spots, including consumer, CRE, C&I, non-banks/private credit
- Expectations for deposit outflows and impact on liquidity and funding
- Capital and profitability trends
Networking break
How is private credit poised to navigate the evolving economic environment?
The growth of private credit is shifting the credit market landscape for borrowers, lenders and investors alike. Panelists will discuss topics ranging from private credit market composition and trends, transaction volume prospects and asset quality expectations amid rising macro challenges, and access to investor and creditor capital.
- Sustainability of private credit growth amid shifting macro conditions
- Borrowers’ vs. lenders’ market: evolving transaction terms in the current environment
- Vulnerability of strengthening net interest margin (a function of rising rates) to eventual credit deterioration
- Strength and stability of investor demand and sources of liquidity
The investment banking landscape post-COVID
Crypto’s evolving role in the financial system
The panelists will explore and debate crypto’s evolving role in the financial system, addressing top of mind questions including:
- What is crypto’s role in today’s financial system and what aspects of banking could it disrupt?
- How is the widening institutional investor adoption shaping the future of crypto?
- Can one regulate crypto without stealing its thunder?
- What does the crypto crash and resultant bankruptcies of some platforms mean for the space?
Networking lunch
End of event
Event Details:
Venue Name: 7 World Trade Center
Address: 250 Greenwich Street
Date: November 2, 2022
Time: 08:50 – 14:00 EDT
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Ana Arsov is a Global Managing Director, co-heading of the banking rating franchise for Moody’s Investor Service which includes rating coverage for banks, securities firms, specialty finance and market infrastructure.
Ana joined Moody’s in 2013 with an extensive experience in analyzing financial institutions and managing credit professionals. Prior to joining Moody’s, Ana’s most recent role was at UBS, where she spent the last several years as Executive Director in Credit Risk, responsible for financial institutions including North American banks, broker dealers, exchanges and clearinghouses. Prior to UBS, she was Head of Global Portfolio Management-Credit Risk Management at Morgan Stanley, focusing on comprehensive coverage, identification and analysis of risks across the firm’s trading and lending businesses as well as leading key risk management initiatives for Morgan Stanley Bank N.A.
Ana began her career in Credit Risk Management at Lehman Brothers in various credit risk roles, ultimately heading up the North American Financial Institutions and Structured Finance team, and subsequently worked on Lehman’s bankruptcy resolution.
Ana holds a master’s degree in Management (with a specialization in Financial Services and Banking) from Boston University, and a bachelor’s degree in Business from Pace University, New York. Ana also holds certificate on board governance from Harvard Business School.
Mr. West has served as President of Moody’s Ratings since November 2019. Mike served as Managing Director—Head of MIS Ratings and Research from June 2016 to October 2019. Previously, Mike served as Managing Director—Head of Global Structured Finance from February 2014 to May 2016 and Managing Director—Head of Global Corporate Finance from January 2010 to January 2014. Earlier in his career, Mike was also responsible for the research strategy for the ratings businesses and before that led Corporate Finance for the EMEA Region, European Corporates and the EMEA leveraged finance business. Prior to joining Moody’s in 1998, Mike worked at Bank of America and HSBC in various credit roles.
Megan Fox is Vice President - Senior Analyst in the Financial Institutions Group of Moody’s Investors Service covering a portfolio of US regional banks. She joined Moody’s in2011 as an Associate Analyst. Prior to joining Moody’s, Mrs. Fox held positions with Freddie Mac, primarily within the Finance department. She holds a B.A. in economics and political science from the University of Delaware.
Bruce Van Saun is Chairman and Chief Executive Officer of Citizens Financial Group, Inc.
Van Saun joined CFG in October 2013 – after serving as Group Finance Director and as an executive director on the RBS Board from 2009 to 2013 – and led Citizens to a successful initial public offering in September 2014, and full independence from RBS in October 2015. He has more than 30 years of financial services experience.
From 1997 to 2008, Van Saun held a number of senior positions with Bank of New York and later Bank of New York Mellon, including Vice Chairman and Chief Financial Officer. Earlier in his career, he held senior positions with Deutsche Bank, Wasserstein Perella Group and Kidder Peabody & Co.
Van Saun has served on a number of boards in both the U.S. and the U.K. He is currently a director of Moody’s Corporation, sits on the Federal Reserve Bank of Boston board, and is Audit Chair of the Bank Policy Institute. He is a member of The Clearing House Supervisory Board (since 2013) and serves on the board of the Partnership for Rhode Island.
Donald Robertson is an Associate Managing Director based in New York who oversees the North American teams covering US-based global investment banks, specialty finance companies and securities firms.
From 2013-2021, Donald was a lead analyst for global investment banks, securities firms and market infrastructure firms. In this role he had direct responsibility for the ratings of a number of US and European banks, exchange operators, electronic market makers and clearing houses. Donald was the lead author of Moody’s rating methodologies for Securities Industry Market Makers and Securities Industry Service Providers, and played an integral role in their development and implementation.
Donald joined Moody’s in 2007 as an accounting specialist in Moody’s Enhanced Analytics Group. In this role, he originally focused on various non-financial corporate sectors, publishing research on complex financial reporting topics and helping educate Moody’s analysts on matters of accounting and financial reporting. Donald subsequently transitioned into Moody’s Financial Institutions Group to lead the development of Moody’s cross-sector rating methodology for Financial Statement Adjustments in the Analysis of Financial Institutions and helped develop and implement Moody’s system for capturing, adjusting and analyzing banks’ financial reporting.
Prior to joining Moody’s, Donald was a Director of Financial Audit at Siemens Corporation, responsible for leading a team conducting IFRS and US GAAP audits in the Americas’ region. Donald started his career at PwC, in the firm’s Glasgow, UK office. In 1998, he transferred to the New York Metro region, and was an audit manager with a client base in the pharmaceutical industry.
Donald is a CA and CPA (inactive), and holds an undergraduate degree from the University of Glasgow.
Mr. Fanger has been with Moody’s since 1995 as a member of Moody’s Financial Institutions Group. In June 2008 he returned to Moody’s Global Banking team after serving as Chief Credit Officer for Moody’s Financial Institutions Group for 2 ½ years.He currently has lead or co lead analytic responsibilities for a number of large universal banks and securities firms headquartered in Europe and the U.S., and also provides guidance and support to other analysts covering similar institutions to help ensure consistency in Moody’s analysis and ratings of these complex firms. Mr. Fanger also continues to support Moody’s Credit Policy function through his participation on a variety of standing committees and special projects.
Mr. Fanger has previously served as Regional Credit Officer for the Americas Banking team and the Finance and Securities team at Moody’s, and has been lead analyst on a wide range of banks, thrifts, and credit card companies on those teams. Prior to joining Moody’s Mr. Fanger worked at the Federal Reserve Bank of New York in Banking Supervision, and also served a brief stint at the Federal Reserve Bank of San Francisco.
Mr. Fanger has a Masters in Public Policy from Harvard University’s Kennedy School of Government where he concentrated in Business and Government Relations, and a B.A. from Colby College where he majored in Economics and Government.
Robert Colangelo is Vice President for the North America Financial Institutions Group. Based in Toronto, he is a lead credit analyst for the largest Canadian banks and insurance companies and publishes related research on these institutions as well as the banking and insurance sectors.
Rob joined Moody’s in June 2021. Before joining Moody’s, Rob worked at another credit rating agency based in Toronto where he was a lead analyst on the large Canadian banks and various credit unions and other financial institutions in Canada. Rob also held a wide range of senior level positions in Finance at Royal Bank of Canada (RBC), including roles in External Reporting, Investor Relations and performance management reporting and forecasting. Rob holds a Bachelor of Commerce degree from the University of Toronto and is a Chartered Professional Accountant (CA).
Mark Wasden is a Senior Vice President in the Financial Institutions Group. Based in New York, Mark oversees the ratings of a portfolio of US commercial finance companies, including commercial aircraft leasing companies, business development companies (BDCs), non bank commercial real estate lenders, and equipment leasing companies.
Prior to joining Moody’s in 2004, Mark was a director in Bank One’s large corporate banking division in Chicago, where he covered finance companies as a senior underwriter. During his 15-year career in commercial banking, Mark held positions in relationship management, credit management, and professional development.
Mark holds a Masters of Business Administration from the University of Michigan anda Bachelor of Science in Economics from Brigham Young University
Craig W. Packer is a Co-Founder and a Senior Managing Director of Blue Owl, a publicly-traded alternative asset manager. Craig is a member of the firm’s Executive Committee and Board of Directors. Craig is also a Co-Founder of Owl Rock Capital Partners, a direct lending platform where he serves as Co-Chief Investment Officer, Chief Executive Officer of the Owl Rock BDCs and a member of the Investment Committees. Craig has a wide range of experience in leveraged finance and alternative investments, including leadership roles in investment banking, direct lending and private credit.
Prior to founding Owl Rock, Craig was a Partner and Co-Head of Leveraged Finance in the Americas at Goldman Sachs & Co., where he served on the Firmwide Capital Committee. Craig joined Goldman Sachs & Co. as a Managing Director and Head of High Yield Capital Markets in 2006 and was named Partner in 2008. Prior to joining Goldman Sachs & Co., he was the Global Head of High Yield Capital Markets at Credit Suisse First Boston, and before that he worked at Donaldson, Lufkin & Jenrette.
Craig serves as Treasurer of the Board of Trustees of Greenwich Academy, and Co-Chair of the Honorary Board of Kids in Crisis, a nonprofit organization that serves children in Connecticut. Craig is on the Advisory Board for the McIntire School of Commerce, University of Virginia and is a member of the Board of Trustees of the University of Virginia Athletics Foundation. Craig earned a B.S. from the University of Virginia and an M.B.A. from Harvard Business School.
Mr. Smith is a Partner and Co-Head of the Ares Credit Group. He serves on the Ares Executive Management Committee. Additionally, he serves as an Officer and Co-President of Ares Capital Corporation (Nasdaq: ARCC). He is a member of the Ares Ivy Hill Asset Management Investment Committee, the Ares Credit Group's U.S. Direct Lending and Commercial Finance Investment Committees, the Ares Private Equity Group's Special Opportunities Investment Committee, the Infrastructure Opportunities Group's Infrastructure Opportunities, Climate Infrastructure Partners and the Infrastructure Debt Investment Committees. Prior to joining Ares in 2004, Mr. Smith was a Partner at RBC Capital Partners, a division of Royal Bank of Canada, which led the firm's middle market financing and principal investment business. Previously, Mr. Smith worked at Indosuez Capital in their Merchant Banking Group, Kenter, Glastris & Company, and at Salomon Brothers Inc, in their Debt Capital Markets Group and Financial Institutions Group. Mr. Smith serves on the Board of Directors of the University of Notre Dame's Wilson Sheehan Lab for Economic Opportunity (LEO), which helps service providers apply scientific evaluation methods to better understand and share effective poverty interventions. Mr. Smith received a B.S. in Business Administration from the University of Notre Dame and a Masters in Management from Northwestern University's Kellogg Graduate School of Management.
Christina Padgett is an Associate Managing Director in Moody’s Corporate Finance Group and leads the Leveraged Finance Research and Analytics team. She spends most of her time chairing speculative grade rating committees and producing credit research with a focus on the leveraged finance market and private equity.
Before joining Moody’s, Christina was a vice president at JPMorganChase in the Mergers and Acquisitions Group. Prior to her experience in investment banking, Christina finished the bank’s Credit Training program and worked in Europe Corporate Finance and Credit Audit. She received a Masters in International Political Economy from Columbia University, School of International and Public Affairs and a B.A. in History from William Smith College.
Rory is currently responsible for Moody’s Funds & Asset Management ratings practice in the Americas. This includes ratings on over 60 asset managers and 400 investment funds across 5 countries. He joined Moody’s Global Managed Investments Group in1998, working on analysis of investment funds. Rory regularly speaks at industry conferences on trends and developments in the asset management sector. He holds a BA in Government from Georgetown University
Ana Arsov is a Global Managing Director, co-heading of the banking rating franchise for Moody’s Investor Service which includes rating coverage for banks, securities firms, specialty finance and market infrastructure.
Ana joined Moody’s in 2013 with an extensive experience in analyzing financial institutions and managing credit professionals. Prior to joining Moody’s, Ana’s most recent role was at UBS, where she spent the last several years as Executive Director in Credit Risk, responsible for financial institutions including North American banks, broker dealers, exchanges and clearinghouses. Prior to UBS, she was Head of Global Portfolio Management-Credit Risk Management at Morgan Stanley, focusing on comprehensive coverage, identification and analysis of risks across the firm’s trading and lending businesses as well as leading key risk management initiatives for Morgan Stanley Bank N.A.
Ana began her career in Credit Risk Management at Lehman Brothers in various credit risk roles, ultimately heading up the North American Financial Institutions and Structured Finance team, and subsequently worked on Lehman’s bankruptcy resolution.
Ana holds a master’s degree in Management (with a specialization in Financial Services and Banking) from Boston University, and a bachelor’s degree in Business from Pace University, New York. Ana also holds certificate on board governance from Harvard Business School.
Chief Executive Officer and Director of Jefferies Financial Group Inc. (NYSE:JEF) Chairman of the Board, Chief Executive Officer and President of Jefferies Group LLC Rich Handler has been with Jefferies since 1990 and has served as Chief Executive Officer since 2001, making him the longest serving CEO on Wall Street. Mr. Handler also serves as Chairman of the Global Diversity Council at Jefferies. In addition he is Chairman and CEO of the Handler Family Foundation, a non-profit that focuses on many philanthropic areas, including providing 4-year all-inclusive fully-paid college educations each year to 15 of the most talented and deserving students coming from challenging backgrounds and circumstances. The foundation also works to protect the environment by protecting endangered species. Prior to Jefferies he worked at Drexel Burnham Lambert in the High Yield Bond Department. Mr. Handler received an MBA from Stanford University in 1987. He received his BA in Economics (Magna Cum Laude, High Distinction) from the University of Rochester in 1983 where he also serves as Chairman of the Board of Trustees.
Fadi Massih is a lead analyst for global investment banks, securities firms and clearing houses, within Moody’s Financial Institutions Group. In this role he has analytic responsibility for the ratings of a number of predominantly US-based banks, exchange operators, electronic market makers and clearing houses. Fadi joined Moody’s in 2013 as an Associate Analyst in the Toronto office covering Canadian banks, insurance companies and asset managers.
Prior to joining Moody’s, Fadi was an Investment Analyst at a Toronto-based asset manager overseeing a portfolio of investments in natural resources and financial institutions. Fadi previously worked at the Bank of Montreal as a Product Manager in cash management and payments products. He holds an undergraduate degree in Economics and Political Science from the Lebanese American University and a Master of Finance from Queen’s University in Canada.
Janet Kim is the Assistant Treasurer and Head of Corporate Finance at Coinbase, the largest crypto exchange in the US. She leads the corporate finance and corporate risk management needs of the company and focuses on capital raising, risk management, strategic capital planning and allocation as well as the management of the crypto investment portfolio. Prior to joining Coinbase in 2022, Janet spent 30 years on Wall Street where she built and led highly successful equity linked capital markets businesses at several leading international banking platforms including BNP Paribas, Citibank, and Deutsche Bank. Janet has structured and executed tens of USD billions of structured financing and hedging transactions over her career working with corporate and institutional clients. She has a BA from Washington University and has attended the J.L Kellogg Graduate School of Management at Northwestern University.
Mr. Martino joined the Bank and its holding company in September 2019 as the Chief Financial Officer. He has 30 years of financial services and public accounting experience.
Prior to joining Silvergate, Mr. Martino served as the Chief Financial Officer of LendingPoint, an Atlanta-based privately held fintech lender, from 2017 to 2019. He began his professional career at Ernst & Young where he was responsible for audit, tax, and consulting services.
Mr. Martino then transitioned to a senior manager role at Bank of Montreal from 1998 to 2000, followed by 17 years with Citigroup, Inc. in various senior finance and chief financial officer roles in North America, Europe, and the Middle East from 2000 to 2017. He holds a Bachelor of Commerce Degree in Accounting from the University of Ottawa and is a Chartered Professional Accountant and Chartered Accountant certified by the Chartered Professional Accountants of Canada.
Fabian Astic serves on Moody’s Ratings Senior Leadership Team as Managing
Director and Global Head of Decentralized Finance & Digital Assets, Cyber Credit Risk,
and AI Analytics. He leads the group responsible for the rating agency’s preparedness
for the digitalization of the global economy, driven by transformative technologies
like AI and blockchain. Specific areas of focus for the group include analytics and
research, market and policy development, and process, data, and technology.
Fabian is widely recognized for his expertise in both traditional finance and digital
finance, often speaking at high-profile industry conferences and contributing to
leading trade association events and podcasts. He serves on the Digital Asset Markets
Subcommittee of the U.S. Commodity Futures Trading Commission’s Global Markets
Advisory Committee, which focuses on digital finance and asset tokenization, and on
the board of QuantCube Technology, an AI company providing predictive analytics
and economic forecasts from alternative data. Additionally, he is the Secretary of the
board of the Hetrick-Martin Institute, a Moody’s partner, which supports LGBTQ
youth. In 2018, Fabian was named as one of Business Equality Magazine’s “40 LGBTQ
Leaders Under 40.”
Prior to his current role, Fabian established and led the group responsible for
developing quantitative models and analytical tools used in Moody’s rating process, as
well as innovation activities, including advanced capabilities in machine learning and
artificial intelligence.
Since joining Moody’s in 2006, Fabian has held roles in Credit Policy Research and the
Structured Finance Group, analyzing various structured credit products and
contributing to rating methodologies.
Fabian holds a Ph.D. in Applied Mathematics with a focus on Mathematical Finance,
as well as a Master’s Degree in Mathematics Applied to Economic Sciences and a
Bachelor’s Degree in Applied Mathematics and Social Sciences from Université Paris
Dauphine. He also holds a Master’s Degree in Science and Executive Engineering from
the Ecole des Mines de Paris, where he specialized in Quantitative Finance
Chief Executive Officer and Director of Jefferies Financial Group Inc. (NYSE:JEF) Chairman of the Board, Chief Executive Officer and President of Jefferies Group LLC Rich Handler has been with Jefferies since 1990 and has served as Chief Executive Officer since 2001, making him the longest serving CEO on Wall Street. Mr. Handler also serves as Chairman of the Global Diversity Council at Jefferies. In addition he is Chairman and CEO of the Handler Family Foundation, a non-profit that focuses on many philanthropic areas, including providing 4-year all-inclusive fully-paid college educations each year to 15 of the most talented and deserving students coming from challenging backgrounds and circumstances. The foundation also works to protect the environment by protecting endangered species. Prior to Jefferies he worked at Drexel Burnham Lambert in the High Yield Bond Department. Mr. Handler received an MBA from Stanford University in 1987. He received his BA in Economics (Magna Cum Laude, High Distinction) from the University of Rochester in 1983 where he also serves as Chairman of the Board of Trustees.
Bruce Van Saun is Chairman and Chief Executive Officer of Citizens Financial Group, Inc.
Van Saun joined CFG in October 2013 – after serving as Group Finance Director and as an executive director on the RBS Board from 2009 to 2013 – and led Citizens to a successful initial public offering in September 2014, and full independence from RBS in October 2015. He has more than 30 years of financial services experience.
From 1997 to 2008, Van Saun held a number of senior positions with Bank of New York and later Bank of New York Mellon, including Vice Chairman and Chief Financial Officer. Earlier in his career, he held senior positions with Deutsche Bank, Wasserstein Perella Group and Kidder Peabody & Co.
Van Saun has served on a number of boards in both the U.S. and the U.K. He is currently a director of Moody’s Corporation, sits on the Federal Reserve Bank of Boston board, and is Audit Chair of the Bank Policy Institute. He is a member of The Clearing House Supervisory Board (since 2013) and serves on the board of the Partnership for Rhode Island.
Ana Arsov is a Global Managing Director, co-heading of the banking rating franchise for Moody’s Investor Service which includes rating coverage for banks, securities firms, specialty finance and market infrastructure.
Ana joined Moody’s in 2013 with an extensive experience in analyzing financial institutions and managing credit professionals. Prior to joining Moody’s, Ana’s most recent role was at UBS, where she spent the last several years as Executive Director in Credit Risk, responsible for financial institutions including North American banks, broker dealers, exchanges and clearinghouses. Prior to UBS, she was Head of Global Portfolio Management-Credit Risk Management at Morgan Stanley, focusing on comprehensive coverage, identification and analysis of risks across the firm’s trading and lending businesses as well as leading key risk management initiatives for Morgan Stanley Bank N.A.
Ana began her career in Credit Risk Management at Lehman Brothers in various credit risk roles, ultimately heading up the North American Financial Institutions and Structured Finance team, and subsequently worked on Lehman’s bankruptcy resolution.
Ana holds a master’s degree in Management (with a specialization in Financial Services and Banking) from Boston University, and a bachelor’s degree in Business from Pace University, New York. Ana also holds certificate on board governance from Harvard Business School.
Fabian Astic serves on Moody’s Ratings Senior Leadership Team as Managing
Director and Global Head of Decentralized Finance & Digital Assets, Cyber Credit Risk,
and AI Analytics. He leads the group responsible for the rating agency’s preparedness
for the digitalization of the global economy, driven by transformative technologies
like AI and blockchain. Specific areas of focus for the group include analytics and
research, market and policy development, and process, data, and technology.
Fabian is widely recognized for his expertise in both traditional finance and digital
finance, often speaking at high-profile industry conferences and contributing to
leading trade association events and podcasts. He serves on the Digital Asset Markets
Subcommittee of the U.S. Commodity Futures Trading Commission’s Global Markets
Advisory Committee, which focuses on digital finance and asset tokenization, and on
the board of QuantCube Technology, an AI company providing predictive analytics
and economic forecasts from alternative data. Additionally, he is the Secretary of the
board of the Hetrick-Martin Institute, a Moody’s partner, which supports LGBTQ
youth. In 2018, Fabian was named as one of Business Equality Magazine’s “40 LGBTQ
Leaders Under 40.”
Prior to his current role, Fabian established and led the group responsible for
developing quantitative models and analytical tools used in Moody’s rating process, as
well as innovation activities, including advanced capabilities in machine learning and
artificial intelligence.
Since joining Moody’s in 2006, Fabian has held roles in Credit Policy Research and the
Structured Finance Group, analyzing various structured credit products and
contributing to rating methodologies.
Fabian holds a Ph.D. in Applied Mathematics with a focus on Mathematical Finance,
as well as a Master’s Degree in Mathematics Applied to Economic Sciences and a
Bachelor’s Degree in Applied Mathematics and Social Sciences from Université Paris
Dauphine. He also holds a Master’s Degree in Science and Executive Engineering from
the Ecole des Mines de Paris, where he specialized in Quantitative Finance
Megan Fox is Vice President - Senior Analyst in the Financial Institutions Group of Moody’s Investors Service covering a portfolio of US regional banks. She joined Moody’s in2011 as an Associate Analyst. Prior to joining Moody’s, Mrs. Fox held positions with Freddie Mac, primarily within the Finance department. She holds a B.A. in economics and political science from the University of Delaware.
Janet Kim is the Assistant Treasurer and Head of Corporate Finance at Coinbase, the largest crypto exchange in the US. She leads the corporate finance and corporate risk management needs of the company and focuses on capital raising, risk management, strategic capital planning and allocation as well as the management of the crypto investment portfolio. Prior to joining Coinbase in 2022, Janet spent 30 years on Wall Street where she built and led highly successful equity linked capital markets businesses at several leading international banking platforms including BNP Paribas, Citibank, and Deutsche Bank. Janet has structured and executed tens of USD billions of structured financing and hedging transactions over her career working with corporate and institutional clients. She has a BA from Washington University and has attended the J.L Kellogg Graduate School of Management at Northwestern University.