Participants' Biographies
Research Papers Sessions
Stefano Federico
Director, Balance of Payments Analysis Division, Bank of Italy
Stefano Federico is a Director at the Bank of Italy, where he heads the Balance of Payments Analysis Division. He holds an MPhil from University of Cambridge and a BA from University of Pisa and Sant’Anna School of Advanced Studies. He was visiting scholar at the Economics Department of Columbia University. His main research interests are in the areas of international trade, balance of payments and empirical banking. He has published in leading journals on these topics. He is currently a member of the International Banking Research Network and various ECB and IMF working groups in the field of external statistics.
Xian Gu
Professor of Finance, Durham University
Xian is a Professor of Finance and a Co-Director of the Centre for Banking, Institutions and Development (CBID) at Durham University Business School. She currently serves as an Associate Editor in Journal of Financial Stability. She has published academic papers in Journal of Financial Economics, Journal of International Economics, among others. She was visiting fellow at Bank of Finland and Hong Kong Monetary Authority. Her research interests are financial intermediation, corporate finance, FinTech and law and finance.
Gazi Kabas
Assistant Professor, Tilburg University
Gazi Kabas is an Assistant Professor at the Tilburg University. His research interest covers household finance and banking. He holds a Ph.D. in Finance from the University of Zurich and the Swiss Finance Institute.
Tobias Kruse
Economist, OECD
Tobias Kruse is economist at the OECD Economics department, where his research focuses on climate change economics. His most recent work investigates mitigation policies, carbon pricing and carbon markets. He uses empirical economic models and policy analysis tools to investigate how firms respond to such policies, including by adjusting innovation activity and capital allocation. Tobias has published in leading field journals on these topics. He holds a PhD and MSc in Environmental Economics from the London School of Economics and Political Sciences.
Eleonora Sfrappini
Lecturer in Finance, University of St Andrews
I am a Lecturer in Finance at the University of St Andrews Business School. I received my PhD from the University of Magdeburg and the Halle Institute for Economic Research (IWH) in Halle, Germany. My research was awarded with grants by the French Social Investment Forum, the Principles for Responsible Investment and the Lamfalussy Fellowship by the European Central Bank.
Alexander Popov
Adviser, European Central Bank
Alexander Popov is an Adviser in the Directorate General Research at the European Central Bank. He works on research questions related to financial markets, growth and development, and monetary policy. Alexander’s research has been published in leading journals in both economics and finance, such as American Economic Journal: Macroeconomics, Economic Journal, Journal of Development Economics, Journal of Financial Economics, Journal of International Economics, and Review of Financial Studies. A native of Bulgaria, Alexander holds a PhD in Economics from the University of Chicago, a Master’s degree in Public Policy from the University of Chicago, and a Master’s degree in Slavic Studies from the University of Sofia.
Dennis Reinhardt
Research Advisor, Bank of England
Dennis Reinhardt is a Research Advisor in the International Directorate of the Bank of England. He received his PhD in Economics from the Graduate Institute of International and Development Studies, Geneva. His research interests include international capital flows, banks and non-banks, macroprudential policies, capital controls and financial vulnerabilities. His research has been published in outlets such as the Journal of Financial Economics, the Journal of International Economics and the Journal of Monetary Economics.
Silvina Rubio
Lecturer in Finance, University of Bristol
Silvina Rubio has been a Lecturer in Finance at the University of Bristol Business School since September 2018. She holds a PhD from Universidad Carlos III de Madrid (Spain) and a BA from Universidad Nacional de Córdoba (Argentina). Her research primarily focuses on empirical corporate finance, corporate governance, financial intermediation, and ESG. Her work has been published in internationally recognized journals, including the Review of Finance, European Accounting Review, and Corporate Governance: An International Review.
Rhiannon Sowerbutts
Senior manager and senior researcher, Bank of England
Rhiannon Sowerbutts is a senior manager and senior researcher in the Financial Stability area of the Bank of England. She is principally responsible for advising the Financial Policy Committee on its overall assessment of the risk environment and strategy for using its tools including the countercyclical capital buffer. She has also delivered technical assistance for a number of central banks and lead the macroprudential module of several FSAPs for the IMF.
Her research interests mainly focus on macroprudential policies, international banks and climate change. She has been published in a range of journals including the Journal of International Economics, Journal of Banking and Finance and the International Journal of Central Banking.
Suijiao (Emma) Zhao
Research Economist, Banco de Portugal
I am a research economist at the Economics and Research Department of the Banco de Portugal. My research interests cover corporate finance, financial contracting, empirical banking, and the impact of climate change-related risks on banks. I am also an invited assistant professor at FEP (School of Economics and Management of the University of Porto) and at Católica Lisbon School of Business & Economics, where I teach courses in financial economics, (micro)econometrics, and dissertation seminars on climate risk and banks.
Insights and Initiatives Session
Ricardo Correa
Senior Adviser - Division of International Finance at the Board of Governors of the Federal Reserve System
Ricardo Correa is a Senior Adviser in the Division of International Finance at the Board of Governors of the Federal Reserve System. He conducts policy analysis in the areas of international banking and financial stability and his research focuses on banking, empirical corporate finance, and international finance topics. His work has been published in the Journal of Financial Economics, Review of Financial Studies, and Journal of Financial Intermediation, amongst others. He has been a member of the International Banking Research Network since 2012. He received a Ph.D. in economics from Columbia University and a B.A. in economics from the Universidad de los Andes in Bogotá, Colombia.
David McCarthy
Chief Financial Officer, Tandem Bank
David McCarthy has over 30 years of experience in finance within retail banks and building societies in Bank of Ireland, Britannia and CoOP. His professional interests include strategic development and balance sheet management.
More recently he has focused on challenger banks. He was a co-founder and CFO of Atom Bank - the UK’s first purely digital bank. Recently he joined Tandem as CFO; Tandem’s mission is to help consumers with the green transition.
A fellow of the Institute of Chartered Accountants and an associate member of the Association of Corporate Treasurers, David graduated in Geography from the University of Bristol.
Evarist Stoja
Professor of Finance, University of Bristol
Evarist Stoja is Professor of Finance at the University of Bristol Business School and Adjunct Professor at the Norwegian School of Economics. He has a PhD in Finance and MBA from the University of Exeter. Evarist has held visiting academic positions in US, Europe and China. Evarist’s research interests lie in the areas of financial econometrics, risk measurement and portfolio management. He has publications in international journals in Economics and Finance including the Journal of Futures Markets, the Journal of Applied Econometrics and Journal of International Money and Finance. Evarist has extensive consultancy experience in the investment banking and fund management sectors and is working at the Bank of England focusing on risk management for financial institutions.
Sebastian Werner
Head of Climate Risk Scenario Design at Citi
Sebastian Werner is currently the Head of Climate Risk Scenario Design at Citi. Previously, he was a Senior Economist at Bank of America where he led climate scenario generation. Sebastian designed the IFRS9 macroeconomic framework at Standard Chartered. At the International Rubber Study Group, he modelled the productivity of rubber trees and measured the impact El Niño Southern Oscillation has on rubber production. He holds a BA in Economics from Manchester University, a GradCert in Mathematical Sciences from Heriot-Watt University and a MSc in Mathematical Economics and Econometrics from Tilburg University.
Policy-Industry Panel Discussion
Marie Kemplay
Deputy Editor of Sustainable Views, Financial Times
Marie Kemplay is deputy editor of Sustainable Views, a service from the Financial Times, which covers the ever-expanding framework of rules, policy and litigation impacting businesses across environmental, social and governance issues. Marie’s background is in financial journalism — she was previously investment banking and capital markets editor on The Banker, has reported on private equity for PitchBook News and was interim editor of Banking Risk and Regulation.
Konstantin Lübbe
Vice Director at Liechtensteinische Landesbank
Konstantin Lübbe is a versatile banking and finance professional, with over 15 years of experience across the public and private banking sectors in Germany and Liechtenstein. His journey encompasses a variety of operational roles within a German savings bank, as well as several years dedicated to strategy and management consulting within the financial sector at zeb; the latest in the role of senior manager. Currently, he is a Vice Director specializing in sustainability-focused strategy and corporate development, including regulatory initiatives such as the EU Taxonomy, at Liechtensteinische Landesbank. He holds a master's degree in management and finance from Bangor University, United Kingdom, as well as a Doctorate from the University of Witten/Herdecke, Germany. As part of his research work, he was a visiting researcher at the Deutsche Bundesbank. Konstantin combines academic with practical hands-on expertise.
Sarah Pritchard
Executive Director of Supervision, Policy and Competition – Markets and Executive Director, International
Sarah is Executive Director Markets, and Executive Director International. As Executive Director Markets she is responsible for the delivery of the FCA’s statutory market integrity objective and co-leads the combined Supervision, Policy and Competition (SPC) division with Sheldon Mills. As Executive Director International she leads our international function, proving overall leadership for our international priorities in support of the FCA strategy. Sarah is the Executive Director sponsor for the FCA's Edinburgh office, as well as sponsoring the FCA's gender diversity network.
Prior to joining the FCA Sarah was the Director of the National Economic Crime Centre (NECC), a multi-agency partnership housed in the National Crime Agency, created in late 2018 to deliver UK system leadership on economic crime. Before then she was General Counsel/Legal Director for the National Crime Agency as well as leading the NCA's transformational people programme.
Her career has involved stints in investigative, operational and legal roles in a range of government departments and in the private sector. Within the private sector she has led global financial crime compliance and reputational risk teams at HSBC and qualified as a commercial litigator with Dechert LLP.
Livio Stracca
Deputy Director General
Macroprudential Policy and Financial Stability
European Central Bank
Livio Stracca is the Deputy Director General Macroprudential Policy & Financial Stability at the European Central Bank and an adjunct Professor at the University of Frankfurt J.-W. Goethe. He has a PhD in Economics and a postgraduate degree in European Union Law. He has published extensively in international macroeconomics, international finance, and monetary economics.