Highlights

» The one place to get the complete Emerging Markets Credit story for 2018 and beyond
» Gain valuable insights on key credit challenges shaping the emerging markets
» Deep dive sessions focusing on specific regions
» Pre-schedule 1:1 meetings with senior Moody's analysts from around the globe

Agenda

08:00 
Breakfast Roundtable (45 mins)
Green Finance in Emerging Markets
  • Outlook for green finance in emerging markets
  • Credit implications of environmental risks
  • Moody’s Green Bond Assessment (GBA) case studies
  • Rahul Ghosh, Senior Vice President - Environmental, Social & Governance (ESG) and Green Bonds
  • Felipe Gordillo, Senior ESG Analyst, BNP Paribas Asset Management
08:30
Registration and Coffee
09:00
Welcome Address
  • Opening Remarks: Michael West, Managing Director, Global Ratings & Research
  • Chairman: Philipp Lotter, Managing Director, Head of EMEA Corporates
09:10
Keynote Plenary Session
Emerging Market Fortunes and Vulnerabilities in 2018
  • What does monetary policy tightening mean for the emerging markets
  • Broadening emerging market recovery
  • Portfolio flows and debt issuances in emerging markets 
  • Risks to emerging markets recovery and stability
  • Atsi Sheth, Managing Director, Head of Credit Strategy Americas
  • Followed by a panel discussion:
  • Led by: Sean Marion, Managing Director, Head of Emerging EMEA Banks
  • Samuel Finkelstein, Head of Macro Strategies - Global Fixed Income, Goldman Sachs Asset Management
  • Nick Eisinger, Principal, Fixed Income - Emerging Markets and European Rates, Vanguard Asset Management
  • Pierre-Yves Bareau, Head of Emerging Market Debt, JP Morgan Asset Management
  • Maxim Vydrine, Deputy Head of Emerging Markets Debt, Amundi Asset Management
  • Atsi Sheth, Managing Director, Head of Credit Strategy Americas
10:10
Sovereign Panel
Emerging Markets Sovereign Ratings: Trends and Idiosyncrasies
  • Led by: Alastair Wilson, Managing Director, Global Sovereign Ratings
  • Marie Diron, Managing Director, Head of Asia Pacific, Middle East, & Africa Sovereigns
  • Dietmar Hornung, Associate Managing Director, Head of European Sovereigns
  • Matt Robinson, Associate Managing Director, Head of Middle East and Africa Sovereigns
  • Mauro Leos, Associate Managing Director, Head of LATAM & Caribbean Sovereigns
10:50
Coffee & Networking Break
11:20
Corporate, Infrastructure & Banking Panel
10 Charts to Watch
  • Led by: Rahul Ghosh, Senior Vice President 
  • Middle East, Africa, Turkey & CIS
  • David Staples, Managing Director, Head of Emerging EMEA Corporates
  • Sean Marion, Managing Director, Head of Emerging EMEA Banking
  • Asia Pacific
  • Laura Acres, Managing Director, Head of Southeast Asia & India Corporates
  • Gary Lau, Managing Director, Head of North Asia (ex-Japan) Corporates
  • Stephen Long, Managing Director, Head of Asia Banking
  • LATAM
  • Marianna Waltz, Managing Director, Head of LATAM Corporates
  • Ceres Lisboa, Vice President, Americas Banking
  • EM Infrastructure & Project Finance
  • Terry Fanous, Managing Director, Head of APAC Project & Infrastructure Finance
  • Douglas Segars, Managing Director, Head of EMEA Project & Infrastructure Finance
12:10
Emerging Markets Default Rates & Trends
  • Emerging and advanced economy default rates are similar, but with different catalysts
  • Sovereign crises and currency movements have led to more corporate defaults in emerging than developed markets
  • Collapse in commodity prices caused corporate defaults to spike again in 2016
  • Richard Morawetz, Senior Credit Officer
12:30
Lunch
13:30
14:30
15:30
Breakout Sessions - Round 1 (55 mins)
Breakout Sessions - Round 2 (55 mins)
Breakout Sessions - Round 3 (55 mins)
 AFRICA STREAM: Are commodity prices and growth uptick sufficient to offset mounting credit challenges?
  • Constantinos Kypreos, Senior Vice President,  Africa Banking - Moderator
  • Matt Robinson, Associate Managing Director, Head of Middle East and Africa Sovereigns
  • Douglas Rowlings, Vice President, Middle East & Africa Corporates
  • Akintunde Majekodunmi, Vice President, Africa Banks
GCC & TURKEY STREAM: What is driving the resilience of banks and corporates across the region despite sovereign vulnerabilities?
  • David Staples, Managing Director, Head of Emerging EMEA Corporates - Moderator
  • Alastair Wilson, Managing Director, Global Sovereign Ratings
  • Henry MacNevin, Associate Managing Director, Head of Middle East & Turkey Banks
  • Rehan Akbar, Vice President, Middle East & Turkey Corporates
RUSSIA & CIS STREAM: Will structural challenges, politics and banking risks constrain the CIS region’s recovery despite favorable commodity prices?
  • Victoria Maisuradze, Associate Managing Director, Head of Russia & CIS Corporates - Moderator
  • Dietmar Hornung, Associate Managing Director, Head of European Sovereigns
  • Yaroslav Sovgyra, Associate Managing Director, Head of Russia & CIS Banks
  • Artem Frolov, Vice President, Russia and CIS Corporates
ASIA: Growth and leverage cycles as inflation, interest rates and tariffs rise
  • Laura Acres, Managing Director, Head of Southeast Asia & India Corporates - Moderator
  • Marie Diron, Managing Director, Head of Asia Sovereigns
  • Gary Lau, Managing Director, Head of North Asia (ex-Japan) Corporates
  • Stephen Long, Managing Director, Head of Asia Banking
  • Terry Fanous, Managing Director, Head of Asia Project & Infrastructure
LATAM: How political uncertainty and a reduced fiscal space will affect the economic recovery?
  • Mauro Leos, Managing Director, LATAM Sovereigns - Moderator
  • Marianna Waltz, Managing Director, Head of LATAM Corporates
  • Ceres Lisboa, Vice President , Americas Banking
CEE: Balancing growth dynamics with structural, institutional & regulatory challenges
  • Martin Kohlhase, Senior Credit Officer, CEE Corporates - Moderator
  • Heiko Peters, Assistant Vice President, CEE Sovereign
  • Armen Dallakyan, Vice President, CEE Banking
  • Ramzi Kattan,  Vice President, CEE Corporate
16:25
Close of the Conference

Guest Speakers

Samuel Finkelstein
Head of Macro Strategies, Global Fixed Income
Goldman Sachs Asset Management
Sam Finkelstein is global head of Goldman Sachs Asset Management's (GSAM) Emerging Market and Currency teams. In this role, Sam serves as Chief Investment Officer for the firm's Emerging
Market Debt business and oversees the Fundamental Emerging Market Equity franchise and GSAM’s Currency team, which is responsible for both developed and emerging market currencies. He is a member of the Fixed Income and Fundamental Equity Strategy groups.
Nick Eisinger
Principal, Fixed Income - Emerging Markets and European Rates
Vanguard Asset Management
Nick Eisinger is a principal and co-head of the Vanguard Emerging Markets active funds. He also helps run the active global G10 rates strategies.
The EM funds invest in hard currency sovereign/quasi sovereign bonds, as well as local currency rates and FX. Nick previously worked at Fidelity Investments on global bond markets (EM and developed) and macro strategy. 
Nick has also worked at Deutsche Bank in London on structuring asset-backed transactions across the Middle East and Emerging Europe. Nick was previously head of the emerging markets securitization team at Fitch in London, and before that worked in global sovereign ratings, also at Fitch, for over 7 years. 
Maxim Vydrine
Deputy Head of Emerging Markets Debt
Amundi Asset Management
Maxim Vydrine joined Amundi in 2007 as an Emerging Markets Corporate Analyst. In April 2010 he became a Portfolio Manager. Maxim joined from Cedrus Capital LLP in London, where he worked as an Associate for a year. Prior to this he worked for HSBC for two years as an analyst in the General Insurance Risk Team. He first started to work with Emerging Markets in 2003 as an intern at Troika in Russia.
Pierre-Yves Bareau
Head of Emerging Market Debt
JP Morgan Asset Management
Pierre-Yves is the Head and CIO of the Emerging Market Debt team in the Global Fixed Income, Currency & Commodities (GFICC) group. In this role, Pierre-Yves is responsible for coordinating resources located in New York, London, Asia and leading investment strategies across EMD portfolio. Prior to joining the firm in 2009, Pierre-Yves was at Fortis Investments for ten years, serving as the chief investment officer for Emerging Markets Fixed Income. At Fortis, Pierre-Yves oversaw teams based in London and Singapore, guided strategy decisions and managed a range of emerging markets mandates. 
Felipe Gordillo
Senior ESG Analyst
BNP Paribas Asset Management
Felipe Gordillo joined BNP Paribas Asset Management in 2009. As senior analyst, Felipe is responsible for the implementation of BNPP AM green bonds strategy. Further, Felipe is responsible for research and engagement in the Real Estate sector.

Felipe is also member of the Principles for Responsible Investment -PRI Fixed income Engagement subcommittee aimed to reach out to key stakeholders to promote understanding of responsible investment in debt markets.

Moody's Speakers

Michael West
Managing Director - Global Rating s and Research
Michael West is Managing Director – Global Ratings and Research. He is responsible for the development of MIS ratings and research opinions
for global fundamental and structured finance ratings groups, and the
delivery of services to issuers and market participants.
Prior to this role, Michael was Managing Director – Head of Global
Corporate Finance and Managing Director – Head of Global Structured
Finance.
Atsi Sheth
Managing Director - Head of Credit Strategy Americas
Atsi Sheth is a Managing Director in Moody’s Sovereign Risk Group. She is responsible for the teams covering the Americas, Asia Pacific and Middle East. Before rejoining Moody’s in 2011, she was Chief Economist at Reliance Capital, a leading diversified financial services firm in Mumbai. During Atsi’s previous tenure at Moody’s from 1997 to 2007, she worked in the Credit Policy and Sovereign Risk groups, covering countries in Asia, Africa and Europe.
Philipp Lotter
Managing Director, Head of EMEA Corporates
Philipp Lotter holds the role of Co-Head of the EMEA Corporate Finance Group, based in London. While jointly overseeing Investment Grade and Leveraged Finance across Europe, Middle East and Africa, Philipp’s focus lies particularly on markets in the UK, Germany and the Nordics, as well as the broader Emerging Market franchise.
Alastair Wilson
Managing Director, Global Sovereign Ratings
Alastair Wilson is a Managing Director and Head of Moody’s Sovereign Risk Group. In this capacity, he leads Moody’s global team of sovereign risk analysts, with responsibility for maintaining the quality of Moody’s sovereign ratings and for the analytical leadership Moody’s aims to provide to investors and issuers through its research. Until August 2014, Alastair was Chief Credit Officer in EMEA, responsible for the quality and consistency of Moody’s credit standards and methodologies across all franchises within the region. He joined Moody’s in September 2010 following twenty-one years at the Bank of England. At the Bank, he worked in a variety of roles in banking supervision, FX and reserves management, banking operations and financial stability.
David Staples
Managing Director, Head of Emerging EMEA Corporates
David Staples is a Managing Director at Moody’s in the EMEA Corporate Finance Group based in Dubai. His responsibilities include managing
the analytical teams that oversee the ratings of companies based in the Middle East, Turkey, South Africa as well as Russia and the CIS.
Sean Marion
Managing Director, Head of Emerging EMEA Banking
Sean Marion is Managing Director in the Financial Institutions Group, based in London. He is responsible for Moody’s analytic teams that rate banks and nonbank financial companies in the Nordics, Baltics, South-Eastern Europe and
emerging markets in Middle East and Africa. Prior to relocating to London in 2011, Sean held various positions of progressive responsibility in Moody’s, including working in the firm’s offices in Mexico City and Toronto.
Laura Acres
Managing Director, Head of Southeast Asia & India Corporates
Laura Acres is a Managing Director with Moody’s Asian Corporate Finance Group. Based in Singapore, she leads a team of analysts who rate corporates across a variety of sectors in South and Southeast Asia.
Gary Lau
Managing Director, Head of China Corporates
Gary Lau is the Managing Director for the Corporate Finance Group in Hong Kong. Gary manages analytical teams in Hong Kong, covering corporate ratings in North Asia (ex-Japan). He has extensive experience with Moody’s in analytical and management positions with responsibilities across different industries and geographies.
Stephen Long
Managing Director, Head of Asia Banking
Stephen Long is a Managing Director co-responsible for Moody’s global bank ratings. He is based in Hong Kong and primarily focuses on bank ratings in the Asia Pacific region. He is also responsible globally for Moody’s ratings of non-bank financial institutions. 
Marie Diron
 Managing Director, Head of Asia Pacific, Middle East & Africa Sovereigns
Marie Diron heads the Sovereign Risk Group for Asia Pacific, the Middle East and Africa, responsible for analytical teams covering sovereigns and multilateral development banks in these regions. Marie has worked as Moody’s lead sovereign analyst for a number of Asia Pacific credits, including China, Hong Kong, Taiwan, India, Sri Lanka and Australia. Marie has also worked in Moody’s Credit Policy, leading a number of macroeconomic analyses, including our regular Global Macro Outlook and other credit research work.
Ceres Lisboa
Vice President , Americas Banking
Ceres joined Moody’s in 2006 and is a Vice President and Senior Credit Officer responsible for a portfolio of Brazilian banks. Ceres came from Standard Bank - Brazil, where she was the RegionalCredit Officer for Latin American Financial Institutions. Ceres, a longtime
Brazilian bank industry specialist, was also a credit analyst with Bank of America’s Trading Group for over six years, and prior to that she
worked for ABN AMRO (Brazil) and BankBoston (Brazil) as a credit analyst for the middle market sector.
Marianna Waltz
Managing Director, Head of LATAM Corporates
Marianna Waltz is a Managing Director at Moody’s Investors Service and joined the company in 2011. She runs Moody’s Corporate Finance team in Latin America, including analysts based in the
company´s offices in Brazil, Mexico and Argentina. The team´s portfolio includes non-financial corporates in 15 countries and various industries,
such as steel, mining, pulp and paper, oil and gas, telecom, construction, building materials, transportation, retail, food & beverage, and agricultural commodity companies, among others.
Douglas Segars
Managing Director, Head of EMEA Project & Infrastructure Finance
Douglas Segars is a Managing Director leading Moody’s EMEA Infrastructure Finance ratings and research franchise. Based in London, he is responsible for a team of analysts covering utilities, infrastructure corporates and project finance.
Henry MacNevin
Associate Managing Director, Head of Middle East & Turkey Banks
Henry MacNevin is currently an Associate Managing Director responsible for bank ratings in Italy and in several countries in Central
and Eastern Europe, based in London.
Matt Robinson
Associate Managing Director, Head of Middle East and Africa Sovereigns
Matt Robinson manages the Sovereign Risk Group’s Middle East and Africa team producing ratings and research regarding sovereign and supranational creditworthiness in Sub-Saharan Africa and Middle East/North Africa. He is
responsible for managing staff located in London, Frankfurt, Dubai and New York. 
Dietmar Hornung
Associate Managing Director, Head of European Sovereigns
Dietmar Hornung, Associate Managing Director, leads the Sovereign Risk Group’s European team, covering the European countries and the European supranationals. Prior to his appointment as team leader, Dietmar was Moody’s lead analyst on a number of European sovereign credits, including Germany, France, Italy, Ireland, Russia, EU, EFSF and ESM.
Victoria Maisuradze
Associate Managing Director, Head of Russia/CIS Corporates
Victoria Maisuradze is an Associate Managing Director for the Moscow based CFG team. Victoria leads a team of analysts covering a portfolio of Russian and CIS issuers. Prior to her current position Victoria was Vice President-Senior Credit Officer and Lead Analyst for the Russian and CIS Oil & Gas portfolio.
Yaroslav Sovgyra
Associate Managing Director, Head of Russia/CIS Banks
Yaroslav Sovgyra is an Associate Managing Director for the Moscow-based banking team. He manages the team of bank analysts which rates nearly 130 banks in the CIS region. Previously, Yaroslav has been the lead analyst on a number of largest Russian and Ukrainian banks (since August 2007), the lead analyst on a number of banks in Poland, Hungary and Czech Republic (since 2005) and Senior Accounting Analyst (since 2003).
Mauro Leos
Associate Managing Director, Head of LATAM & Caribbean Sovereigns
Mauro has been with Moody’s Sovereign Risk Group since 1996. He is currently the Regional Credit officer for Latin America in charge of a portfolio of credits that includes Brazil, Mexico, Uruguay, and other Latin American countries. As a lead analyst, Mauro is also responsible for regional multilaterals including IADB, CABEI, and FLAR.
Terry Fanous
Managing Director, Head of APAC Project & Infrastructure Finance
As a Managing Director, based in Singapore, Terry leads Moody’s Public, Project & Infrastructure Finance in Asia Pacific. He assumed his position in February 2015. In this role, Terry oversees ratings teams in Hong Kong, China, Singapore, Australia,
and Japan which are responsible for Moody’s extensive coverage across the public and infrastructure sectors, including transport infrastructure, regulated utilities, power and social infrastructure.
Rahul Ghosh
Senior Vice President
Environmental, Social & Governance and Green Bonds
Rahul Ghosh is a senior vice president in Moody’s global environmental, social and governance (ESG) and green bonds team. In this capacity, Rahul coordinates the company’s thematic and educational research and outreach initiatives on the impact of ESG considerations for global credit markets. Rahul also serves as a senior analyst for Moody’s Green Bond Assessments (GBAs), which evaluate the effectiveness of an issuer’s approach to managing, administering, allocating proceeds to and reporting on environmental projects financed with green bonds.
Richard Morawetz
Senior Credit Officer
Richard Morawetz is a Group Credit Officer within EMEA Corporate Finance in London. Richard joined Moody’s in August 2005 and has retained portfolios in investment grade and leverage finance across the EMEA region, with sector coverage including consumer goods and
retail, business and consumer services, healthcare and airlines.
Martin Kohlhase
Senior Credit Officer, CEE Corporates
Martin Kohlhase joined Moody’s in 2004 where he later assumed responsibility as a lead analyst for ratings in the packaging and at the time structurally-challenged forest products industries. He was based in Dubai from 2008 to 2015 where he covered a wide range of credits from the Middle East and Turkey across the rating scale (high to speclative grade), with varying complexities (government-related issuers, Islamic Finance/Sukuk, cross-over situations) and different sectors (telecoms, investment holding companies, utilities, oil & gas and diversified industrials). Mr. Kohlhase relocated to Frankfurt in 2015 where he assumed a portfolio of large-cap European manufacturers.
Constantinos Kypreos
Senior Vice President, Africa Banking
Constantinos is a Senior Vice President and leads a team of analysts covering banks in Africa, the Middle East and the Balkans. Since joining Moody’s Limassol-based banking team in 2005, Constantinos has followed banks as lead analyst in South Africa, Egypt, Ghana, Israel, Greece,
Bulgaria, Romania, Montenegro, Saudi Arabia and Qatar. He has authored numerous articles covering the African and Balkan banking systems and is a regular speaker at regional conferences
Armen Dallakyan
Vice President, CEE Banking
Armen Dallakyan is a senior credit analyst with Moody’s covering banks in Central
and Eastern Europe. In this role he is charge for the ratings analysis of a portfolio
of banks in Hungary, Poland, Romania and Slovenia. Prior to that he covered
CIS banks.
Akintunde Majekodunmi
Vice President, Africa Banks
Akin joined in October 2014, and is the lead analyst on a portfolio of Sub-Saharan Africa Banks, focusing initially on Nigeria and then elsewhere in West and East Africa as the team’s footprint in the region grows.
Douglas Rowlings
Vice President, Middle East & Africa Corporates
Douglas Rowlings is a Vice President – Senior Analyst in the Corporate Finance Group at Moody’s Investors Service. Douglas covers non-financial corporates for Moody’s in the Middle East and Africa with a specific focus on mining, oil and gas along with telecommunications services and infrastructure providers.
Rehan Akbar
Vice President, Middle East & Turkey Corporates
Rehan Akbar is a Vice President – Senior Analyst in Moody’s EMEA Corporate Finance Group based in Dubai. He covers a diversified portfolio including Oil & Gas, petrochemicals, transport and real estate companies situated in the Middle East and Turkey. Prior to joining Moody’s in 2011, he worked as a credit analyst at Mashreq Capital where he covered emerging market corporates.
Artem Frolov
Vice President, Russia/CIS Corporates
Artem Frolov is a Vice President - Senior Credit Officer at Moody’s Investors Service, based in
Moscow. He covers a portfolio of corporate issuers in the steel and mining sectors in Russia and CIS
Heiko Peters
Assistant Vice President, CEE Sovereigns
Heiko Peters is an Assistant Vice President - 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.
Ramzi Kattan
Vice President, CEE Corporate
Ramzi is a Vice President in Moody’s Corporate Finance Group in London focused on real estate.
He joined Moody’s in February 2011 as a lead analyst in EMEA CMBS responsible for analysing and rating a large variety of commercial mortgage backed transactions across all EMEA jurisdictions and property types. Ramzi’s responsibilities also included researching and analysing property market data and tracking European occupational and investment market trends.

Venue

Grange St. Paul's Hotel
10 Godliman St
London
EC4V 5AJ, UK

© 2018 Moody's Investors Service, Inc. and/or its affiliates and licensors. All rights reserved.