Not pictured:
• Alessandro Canta
• Arnaud Mares, Head of Policy, UK DMO
• Cesare Chiabrera
• Daniel Gordon
• John Ryan, Professor, EUROPEAN BUSINESS SCHOOL
• Jolanda van der Vliet, Head of Performance Measurement & Risk Management, SHELL ASSET MANAGEMENT COMPANY
• Mike Hennessy, Managing Director, MORGAN CREEK CAPITAL MANAGEMENT
• Stephen Stone, Vice President, AIG
• Terry Leitch, Director, BOEING CAPITAL

Aaron Brown, Executive Director and Head of Credit Risk Architecture, MORGAN STANLEY
Aaron Brown is an Executive Director at Morgan Stanley with sixteen years experience in risk management for JP Morgan, Citigroup and Rabobank, as well as experience as a finance professor, trader, portfolio manager and head of mortgage securities. He won the 2005 Wilmott Award for Financial Educator of the Year and is the author of The Poker Face of Wall Street (Wiley, March 2006). He is a frequent contributor to the professional literature in articles and book chapters, and speaks frequently at professional conferences. He holds degrees in Applied Mathematics from Harvard and Finance from the University of Chicago.

back to top

Alain Dubois, Chairman of the Board, LYXOR AM
Alain Dubois is Chairman of the Board of Lyxor AM since 2003. Previously, he was a member of the Managing Board and head of business development. He has held previous positions at Lazard Frères et Cie as Director of Structured Finance, at Commerzbank as a Senior Structurer and at the French Finance Ministry. He is a graduate of Ecole Nationale d'Administration and École Polytechnique, and a law graduate of Paris University.

back to top

Alessandro Canta was borne in Rome October the 21st 1966.
After the degree in 1990 in Economy with Specialization in Finance, and absolved the military service, has worked from 1991 to 1993 as Cost Controller for Esso Italiana S.p.A.

Winner of the concourse for Finance Specialists of Enel S.p.A., in December 1993 entered in the Finance Dept were has worked in different area before becoming in 2000 head of Treasury and Capital Market.

back to top

Ali Hirsa, Head of Analytical Trading Strategy, CASPIAN CAPITAL MANAGEMENT
Ali Hirsa is Head of Analytical Trading Strategy at Caspian Capital Management. Prior to his current position, he worked at Morgan Stanley, Banc of America Securities, and Prudential Securities. He is also an adjunct professor at Columbia University and Courant Institute.

Ali received his PhD in applied mathematics from University of Maryland at College Park under the supervision of Dilip B. Madan

back to top

Arnaud Mares, Head of Policy, UK DMO
Arnaud Marès has joined the UK Debt Management Office (DMO) in July 2004 in the capacity of Head of Policy. The DMO was established as an executive agency of HM Treasury in 1998 to carry out Government debt cash management. The DMO also provides advice to HM Treasury on the management of HM Government's balance sheet to help secure sound public finances.

Prior to joining the DMO, Arnaud Marès has been working for the European Central Bank in Frankfurt as a senior economist in the Bank's Market Operations department and before that has occupied various positions in an investment bank in Paris and London.

back to top

Bruce Porteous, Head of Financial Risk, STANDARD LIFE BANK
Bruce is currently Head of Financial Risk with Standard Life Bank. Responsible for: economic value management, asset and liability management, operational risk management, enterprise wide risk, economic capital and Basel 2. Bruce gained international M & A, corporate restructuring and market entry experience gained with Tillinghast Towers Perrin.
His business experience lies in the areas of Marketing, Corporate Finance, Corporate Development, International Development and Risk Management experience, with exposure to the life insurance, retail banking, health insurance and asset management sectors, at Standard Life.
Bruce has a degrees in Mathematical Statistics from Edinburgh University (BSc, 1st Class) and Cambridge University (postgraduate Diploma with Distinction and PhD).
He is a fellow of the Faculty of Actuaries.

back to top

Cesare Chiabrera was borne in Rome in 1966.
He graduated in Economics with a first-class honours degree at the University of Rome "La Sapienza". After a specialization in Finance, he began his professional career in 1991 at the research and analysis department of Cofib SIM. From February to November 1993 he worked for Banca Nazionale del Lavoro. Starting from December 1993 he entered in Enel as a winner of a contest for specialized resources in Corporate Finance. Since December 2000 he is in charge of Financial Planning and Risk Management of the Finance department of Enel.

He is member of the Board of Directors of Enel Factor.

He wrote the article "The trend share price of IPO's", published in "Analisi Finanziaria" 1993, and the chapter "Corporate risk management: consistency and complementariness of risk management and risk control", published by CEDAM in "La gestione dei rischi finanziari", 2000.

back to top

Christophe Baurand, Global Head of Sales Alternative Investment Products, SG CORPORATE AND INVESTMENT BANKING
Christophe Baurand is the Global Head of Sales of Alternative Investment Products at SGCIB. He is currently in charge of marketing of the bank's Hedge Fund structuring business, which includes the creation of capital-protected and leveraged products linked to Hedge Funds, or funds of Hedge Funds, as well as the collateralised financing activities for funds of Hedge Funds. He is also supervising the marketing of the Hedge Fund range of Lyxor AM, the asset management arm of SG's Investment Bank, which encompasses among others an 11bio USD strong managed account platform made of 160 different programms run by prestigious external Hedge Fund Managers. Mr Baurand has been with SG for the last twelve years. Prior to his current position with SGCIB, he worked in Equity Derivative Sales on the French market before getting appointed Head of Equity Derivative Sales for Switzerland in 1999 and for Benelux in 2002. Mr Baurand graduated in 1991 from ESCP-EAP Business School in Paris and has a Masters in Finance from Essec Business School ( Paris 1992 ).

back to top

Claudio Albanese, Professor, IMPERIAL COLLEGE LONDON
Claudio Albanese holds a Chair in Mathematical Finance at Imperial College London where he manages an Executive Doctoral programme. His PhD is from ETH Zurich. He was previously on the faculty at NYU, Princeton and the University of Toronto. His research is equally divided between stochastic volatility and credit correlation models and spans derivaatives across several asset classes.

back to top

Clemens Frey, Consultant, Group Controlling, MUNICH RE
Clemens Frey is consultant in the method unit of Munich Re's Group Controlling department. Previous to this he has worked in Integrated Risk Management, responsible for accumulation risk, portfolio analysis and Solvency II. He is actuary and holds a PhD in applied mathematics.

back to top

Con Keating, a chemist and economist by training, is currently a trustee of four pension schemes which represents a return to his roots as an investment manager of the NATO Provident Fund almost forty years ago. His professional career spanned responsibility for trading, quantitative research and risk management with institutions such as CSFB, Banque Paribas and Cigna Insurance. Since retirement in 1990, he has held a number of high-level advisory roles to investment managers, pension funds, insurance companies and official institutions.

A member of the steering committee of the new Finance Research Institute at the University of Warwick, he is also a member of the Societe Universitaire Europeene pour Recherche en Finance, and is presently working on problems of fair value accounting for the OECD’s working party on private pensions. He is a former chairman of the committee on methods and measures of the European Federation of Financial Analysts’ Societies.

back to top

Daniel Gordon, Manager Risk and Regulatory Management, ACCENTURE
Daniel is an Operational Risk and Basel 2 Expert with Accenture's Risk & Regulatory practice in London. He has over 7 years experience in risk management and has worked closely with regulators and financial institutions on defining risk management strategy and approaches. Prior to joining Accenture, Daniel was with PricewaterhouseCoopers and Group Risk Management of Royal Bank of Scotland Group in London. He holds a MBA from MBS, BA(hons) and Dipl Kfm in Financial Economics.

back to top

Dario Loiacono, Senior Partner, LOIACONO E ASSOCIATI
Dario Loiacono is the founding Partner of Loiacono e Associati, a law firm specializing in innovative investment and financing techniques, financial markets regulation, financial litigation and corporate law. He represents foreign and domestic corporations, investment banks, commercial banks, stock exchanges, securities clearing-houses, centralized securities depositaries, brokerage houses and hedge and private investment funds. He has extensive experience structuring complex derivative financial instruments as well as advising clients with respect to collateral, netting and clearing and settlement issues. Mr. Loiacono has represented Banca Popolare di Intra in its €75 million lawsuit against Bank of America in front of the London High Court as well as other Italian and non-Italian banks in disputes involving the selling, structuring and management of structured synthetic CDOs. Formerly, he was a banker with J.P. Morgan & Co. and lawyer at Cleary, Gottlieb, Steen & Hamilton in New York. He is a member of the Milan and New York Bar and registered as a European Lawyer with the Law Society of England and Wales.

back to top

David Adams, Group Treasurer, ARLA FOODS UK PLC
David Adams has over 25 years experience in the Corporate Treasury function most as Group Treasurer in a variety of industries including advertising, retail finance, retail and manufacturing. He has been Group Treasurer of Arla Foods UK plc (formerly Express Dairies plc) since 1998. He has responsibility for financial risk management and is also a Pension Fund Trustee for the Express Dairies Defined Benefit Pension scheme where he sits on the Investment Committee. He is a Fellow of the Association of Corporate Treasurers, a Fellow of the Chartered Institute of Bankers and a Fellow of the Royal Society of Arts.

back to top

David Hare has over 19 years of experience in the insurance industry. He has worked for Standard Life since 1997 and is currently Senior Actuarial Manager, Development, within the UK & Europe Life & Pensions operation, where he reports to the chief actuary and acts as his deputy on technical matters. Among his specific responsibilities is to lead Standard Life's work to prepare for Solvency II.

He qualified as an actuary in 1988 and continues to be very active in the UK actuarial profession. He is a member of Council of the Faculty of Actuaries and Chairman of the Education and CPD Board of the UK Actuarial Profession. He has authored a number a publications, including "A market-based approach to pricing with-profits guarantees” and "The realistic reporting of with-profits business".

He is a member of various industry committees and Solvency II working parties, including those of the ABI, FSA and HMT in the UK, and is the leader of the UK Actuarial Profession’s Solvency II life working group.

He is an experienced conference speaker, both in the UK and abroad.

David is married with a four year old son and is a keen musician and hill-walker.

back to top

David Le Page, Senior Quantitative Researcher, BARCLAYS CAPITAL
David Le Page is a Senior Quantitative Analyst in the Credit Derivatives Group at Barclays Capital. He has been supporting the intense growth of the exotic credit derivative business at Barclays Capital during the previous 2 years. He has been working in the Credit Derivatives business on a diversified number of subjects including correlation products, volatility products and credit/equity arbitrage. David has previously worked at BNP Paribas. David has Master's degrees in probability, economics, finance and actuarial science.

back to top

Dong Qu, Head of Quantitative Product Group, ABBEY NATIONAL
Dong Qu is the Head of Quantitative Products Group at Abbey Financial Markets. The group covers the pricing/hedging models for Abbey's structured derivatives business across mayor asset classes, including equity, fixed income, credit and property derivatives. Dong previously worked at banks including HSBC and Nikko Securities in the FX and equity markets. He has a PhD in Statistical Optics from Imperial College, London. He worked for Defence Research Agency for several years before working on financial derivatives.

back to top

Drago Indjic, Project Manager, BNP Paribas Hedge Fund Center, LONDON BUSINESS SCHOOL
Drago has over ten years of experience in hedge fund industry, including fund of funds (Head of Research, Fauchier Partners, 1999-2004) and singe hedge funds (senior quantitative researcher, Oxquant 2004-, First Quadrant, 1999, Econostat,1993-1997) in addition to institutional buy-side (risk analyst, Kuwait Investment Office, 1998-1999).

Drago has been invited speaker and chair at many academic and trade conferences on quantitative strategies. He is a Project Manager at BNP Paribas Hedge Fund Centre at London Business School and consults Soft Finance SA in Geneva. His current research interests include hedge fund data mining and microstructural investment strategies.
He has a PhD in Energy Engineering from Imperial College, London.

back to top

Esa Jokivuolle, Project Supervisor, BANK OF FINLAND
ESA JOKIVUOLLE, born in 1964 in Kannus, Finland, has a Master's degree in economics from the University of Helsinki and a Ph.D. in finance from the University of Illinois at Urbana-Champaign. He is currently working as a project supervisor at the Bank of Finland's financial markets department and has also acted as the head of the department's financial stability division. He is also a lecturer, specialized in derivatives and risk management, at the Helsinki School of Economics, and in 2002-3 he acted as a visiting professor at the school. Previously he was a research fellow at the University of Helsinki and also served as a deputy director of the Finnish Postgraduate Programme in Economics.

In 1997-99 he was a senior quantitative analyst in Leonia plc, then the second largest commercial bank in Finland. His main responsibility there was the development of credit risk portfolio management.

In 2000-2 he was a member of the European Commission's Working Group on Internal Ratings concerning Basel II. His research areas include stock index measurement and index options, credit risk management and Basel II, and have been published in Journal of Financial and Quantitative Analysis, Journal of Derivatives, Risk, European Financial Management and Journal of Banking and Finance.

back to top

Fabio Mercurio, Head of Financial Models, BANCA IMI
Fabio Mercurio is Head of Financial Models at Banca IMI, Milan. He holds a B.A. in Applied Mathematics and a Ph.D. in Mathematical Finance. In Banca IMI, he is leading a team of quants who provide quantitative support to the bank's option traders. His current tasks include the pricing and hedging of interest rate, FX, equity, inflation and hybrid derivatives under smile effects. He has several publications in international journals and is co-author of "Interest Rate Models: Theory and Practice".

back to top

Geoff Rubin, Director, Economic Capital Group, CAPITAL ONE
Since joining Capital One as the Head of the Economic Capital Group in 2003, Geoffrey has coordinated regulatory and economic capital adequacy and has managed the capital attribution process. Geoffrey also leads corporate capital strategy and the development of risk-adjusted performance measures for business decisioning and assessment. Geoffrey previously spent six years at Reis, Inc., a commercial real estate investment and advisory firm, where he headed product development and consulting. In this role, Geoffrey helped a number of lenders develop measures of economic capital for their commercial real estate portfolios. Geoffrey holds a BA from the University of Virginia and an MA and Ph.D. from Princeton University

back to top

Geoff Taylor, Director of Risk Management, NIKE EMEA
Since 2002 Geoff Taylor is the Director of Risk Management for Nike Europe, Middle East & Africa and has overall regional responsibility for Health, Safety, Security, Business Continuity, Risk Financing and Claims.

He started his career in the insurance industry holding various commercial underwriting positions with Sun Alliance Insurance Group, and then from 1987-92 with the Prudential Assurance Co. underwriting property and casualty risks in the London market.

Throughout the 1990's he has been involved in designing and implementing risk management policies and programmes for Levi Strauss & Co.s European division, and managing risk issues for major projects in the Middle East and Europe for privately owned US engineering and construction company Bechtel Inc.

Geoff is a Fellow of the Institute of Risk Management and is currently Deputy Chairman of AIRMIC (The Association of Risk & Insurance Managers in the UK).

back to top

Georg Grodzki, Global Head of Investment Grade Credit, RBC
Georg Grodzki is global head of investment grade credit research at RBC Capital Markets. Prior to assuming his role at RBC in 2001, he oversaw CSFB's European credit advisory and credit research activities. He had joined CSFB from Moody's in London where he served as senior analyst from 1989 to 1993. His previous professional experience includes assignments in merchant banking, management consulting and regional government.
Mr Grodzki obtained a Master of Business Administration at INSEAD, Fontainebleau, and a Master of Economics at the University of Cologne

back to top

Halvor Hoddevik, DANSKE BANK
Hoddevik runs Danske Markets' risk advisory group and provides risk management advice to Nordic financial institutions and corporations. Topics covered include asset-liability management, hedge portfolio optimisation, capital structure, liquidity management and liability management. From 1998 to 2005 Hoddevik worked for JPMorgan where he amongst other roles served as deputy global head of ALM Advisory and head of Nordic Risk Advisory. Hoddevik holds a M.Sc. in engineering (computer science and finance) from the Norwegian University of Science and Technology. As part of his degree he spent a year at Imperial College, London, following the courses leading to the degree M.Sc. in Finance. Hoddevik is Norwegian.

back to top

Herman Heyns, European Lead, Enterprise Performance Management, Finance and Performance Management, ACCENTURE
Herman Heyns is the managing partner for Accenture's European Enterprise Performance Management Practice. He has previously led Accenture's Finance and Performance Management Practice in the UK and Ireland.

Herman is a recognised authority in the area of Enterprise Performance Management and has worked with clients such as ABN Amro, Royal & Sun Alliance, Siemens, BP, WilliamsF1 and SABMiller

back to top

Iain Coke, Head of Financial Services, INSTITUTE OF CHARTERED ACCOUNTANTS IN ENGLAND AND WALES
Iain Coke is Head of Financial Services at the Institute of Chartered Accountants in England & Wales. He is responsible for the Institute's technical work on financial services industry and works closely with senior representatives from accounting firms and the industry. Iain represents the UK accountancy profession on the European Federation of Accountants (FEE) Banks and Insurance Working Parties and Financial Instruments Sub-Group. He also represents the Institute on the Corporation of London EU Regulatory Working Group.

Prior to joining the Institute, Iain qualified as a Chartered Accountant with PricewaterhouseCoopers, specialising in offshore financial services audits. He previously worked an investment analyst for NatWest Securities covering the investment trust sector. Iain holds an LLB in Law and Accountancy from Edinburgh University, and an MPhil in International Finance from Glasgow University.

back to top

Ian Tyler, Senior Manager, Group Treasurer, ROYAL BANK OF SCOTLAND
A maths graduate from Cambridge University, Ian has now worked for major UK banking groups (Barclays, NatWest and RBS) for 20 years of which the large majority of the last 16 years have been in either treasury or A&LM related roles.

His current responsibilities include policy development, governance and modelling of all non trading market risks across RBS Group.

The major highlights of the last two years include:-

(i) the establishment of IAS 39 compliant hedging processes
(ii) the creation of a strong A&LM modelling capability
(iii) significant due diligence experience in both the US and China
(iv) ongoing preparation for Basel 2

back to top

Kenneth Winston, Global Chief Risk Officer, MORGAN STANLEY INVESTMENT MANAGEMENT
Kenneth Winston is Global Chief Risk Officer at Morgan Stanley Investment Management ("MSIM"). In this role, he directs MSIM's global risk management program, covering all asset classes, product vehicles, client types and operating regions. The Global Portfolio Analysis and Risk Management Group he heads provides investment risk and performance analysis, as well as operational, business, and enterprise risk management.

Mr. Winston holds a PhD in mathematics from the Massachusetts Institute of Technology. He obtained his bachelor's and masters in mathematics from the California Institute of Technology.

back to top

Jarvis Seaman, Philips International
Jarvis Seaman is a Canadian citizen who holds a bachelor of Finance from the University of British Columbia. He worked as a derivatives market maker on the CBOE and AMEX exchanges in the USA for many years. There he managed derivative portfolios specializing in equity volatility and index arbitrage. He joined Philips in 2004 where he worked as Risk Controller for Philips Corporate Treasury. As Risk Controller and member of Philips' Treasury Risk Committee he reviewed and controlled Philips's foreign exchange, interest rate and commodities risk management techniques. Currently he is employed within Philips as Senior Risk Consultant where he consults globally on current risk management policies and methodologies for Philips' Corporate Treasury and Product Divisions.

back to top

Jessica James, Director, CITIGROUP
Jessica is part of the Citigroup FX Risk Advisory Group, which does bespoke research and analysis for clients in the FX area. Her research interests include interest rates and credit models as well as FX rates. She has participated in several government Task Forces and is involved with the Institute of Physics as a member of their governing body and a member of their Audit and Risk Committee. Prior to her career in finance, Jessica lectured in physics at Trinity, Oxford, having completed her PhD in Theoretical Atomic and Nuclear Physics in 1994

back to top

John Crosby, Global Head of Quantitative Analytics and Research, LLYODS TSB
"John gained a first class honours degree in Applied Mathematics and Theoretical Physics at Girton College, Cambridge University before going on to study Electrical Engineering at University College, Oxford. He began his career by trading fx options. He then moved to Monis (formerly London Business School Financial Software) where he researched and wrote their pricing libraries for a very wide range of exotic options as well as co-writing their three-factor Convertible bond model, which captured stochastic equity prices, interest-rates and default risk. He then worked at First Chicago and at Barclays Capital. He is currently Global Head of Quantitative Analytics and Research at Lloyds TSB Financial Markets where he is responsible for developing advanced models for pricing and risk-managing a wide-range of complex derivatives."

back to top

John C.R. Hele, is the Deputy CFO of ING Group and is based in Amsterdam, The Netherlands. Prior to assuming this role in 2006, he was the General Manager and Chief Insurance Risk Officer responsible for global insurance risk management and also functioned as the Group Actuary. He joined ING Group in 2003 after being a technology entrepreneur for three years. Mr. Hele spent most of his career at Merrill Lynch in New York in both the retail division in marketing and manufacturing, and the corporate division as an investment banker. He started his career at Crown Life in Canada. Mr. Hele is a Fellow of the Society of Actuaries, Member of the American Academy of Actuaries, and Fellow of the Canadian Institute of Actuaries.

back to top

John Hull, Professor of Finance, Director, Faculty of Management, UNIVERSITY OF TORONTO
John Hull is the Maple Financial Professor of Derivatives and Risk Management in the Joseph L. Rotman School of Management at the University of Toronto. He is an internationally recognized authority on Derivatives. He has acted as consultant to many North American, Japanese, and European financial institutions. The sixth edition of his widely read book "Options, Futures and Other Derivatives" was published in July 2005. He has won many teaching awards including the prestigious Northrope Frye award. He was voted Financial Engineer of the Year by the International Association of Financial Engineers in 1999.

back to top

John Ryan, Professor, EUROPEAN BUSINESS SCHOOL
Professor Dr. John Ryan is the MSc Course Leader in Global Banking and
Finance at European Business School. Dr. Ryan is a Visiting Scholar at the CRG Ecole
Polytechnique and Centre for European Studies of Sciences Po. Dr. Ryan is a Visiting
Professor at EDHEC Grande Ecole School of Management, Lille, France and New York University.

Dr Ryan has appeared on BBC Panorama, BBC World Business Report on BBC World and News 24 Television programmes. He is also an opinion writer and commentator on the Eurozone, Lisbon agenda, EMU and European Union regulatory environment in the international press. Dr Ryan advises companies on Basel 2, MiFID and Sarbanes Oxley.

back to top

Jolanda van der Vliet, Head of Performance Measurement & Risk Management, SHELL ASSET MANAGEMENT COMPANY
Jolanda van der Vliet is head of the performance and risk management department of Shell Asset Management Company, a company that manages the assets of the largest Shell Pension Funds. Current assets under management are 40 billion EURO. Jolanda is responsible for all internal and external performance reporting and analysis, and is also responsible for the risk monitoring for the pension funds and development of risk management models. She previously worked at ORTEC, a company that develops decision support system based on mathematical models for diverse businesses. Jolanda studied at the Free University in Amsterdam and has a MSc in Mathematics and Computer Science. After graduation she did a post-graduate study in Mathematical modeling at the Delft University of Technology.

back to top

Ken Nyholm, Economist, ECB
Ken Nyholm is Economist in the Risk Management Division of the European Central Bank. Prior to joining the ECB in 2001, he was assistant professor at the Aarhus School of Business. He holds a PhD degree in Finance and has published in, among others, Journal of Risk, European Journal of Finance, Journal of Financial Research and the Journal of Applied Econometrics. Within the Risk Management Division he is responsible for quantitative model development in the area of reserves management.

back to top

Kenrick Ramlochan, ABN AMRO
Kenrick Ramlochan is the Director of FX Analytics and Risk Advisory at ABN AMRO based in London. He is responsible for the provision of analytics and tailored solutions to institutional and corporate clients. Previously, he was the Head of Global Risk Analysis for Europe at Bank of America, responsible for a global client portfolio, advising on foreign exchange, fixed income derivatives and commodities issues. Prior to that, Kenrick was the Head of Asset Allocation at HSBC Asset Management and worked at Citibank in a variety of equity and foreign exchange derivative areas.

back to top

Kevin Chang, Director, CREDIT SUISSE
P.H. Kevin Chang is a Director in Equities at Credit Suisse, London. He is currently International Head of Derivatives Solutions, a recently created unit within Equities, designed to bring derivatives training and expertise to our most valued customers. Geographically, he focuses on Europe and Asia/Pacific. He joined CSFB in 1998 as a strategist in the Foreign Exchange Research and Strategy group and moved to the Equities Division in 2001.

Prior to joining CSFB, Mr. Chang taught university for ten years at the MBA and undergraduate levels as a member of the finance faculty at the Stern School of Business (New York University), the Wharton School (University of Pennsylvania), and the Marshall School (University of Southern California). He holds a Ph.D. in Economics from the Massachusetts Institute of Technology (M.I.T.) and a Bachelor's Degree magna cum laude in Economics from Harvard University.

back to top

Lars Rohde, Chief Executive Officer, ATP
ATP is a mandatory Danish supplementary pension scheme covering almost the entire Danish population. ATP has approx. 360 BN DKK (48 BN EUR) under management. Lars Rohde joined ATP in 1998 as CEO. He holds a MSc(econ) from School of Economics and Management, University of Aarhus. In the beginning of the 1980th he worked at the Danish central bank as an economist before joining the Doctors Pension Fund first as head of asset management in 1985 and later as CEO. In 1989 he became head of funding and asset management at Realkredit Danmark, one of the leading Danish Mortgages Banks. From 1992 to 1998 he was a member of the board of management, from 1997 Deputy CEO.
Lars Rohde has also been part-time associate professor in financial planning at Copenhagen Business School.
From 1993 to 1996 Lars Rohde served as a member of the board of the Copenhagen Stock Exchange and from 2003 to 2005 he was member of the Stock Exchange committee on Corporate Governance.

back to top

Lindsay Tomlinson, Vice Chairman, Europe, BARCLAYS GLOBAL INVESTORS
Lindsay Tomlinson is Vice-Chairman of Barclays Global Investors Europe, and is a member of BGIs Executive Committee. He is a Cambridge University mathematics graduate and has a post graduate qualification in mathematical statistics. After leaving university he worked as a pensions actuary and is a Fellow of the Institute of Actuaries. He moved into the investment world in 1981, joined BGI in 1987 and has been a senior executive of the company since 1991. Outside of BGI Lindsay has contributed to the development of the financial services industry through membership of a range of relevant industry bodies. He is currently Chairman of the FTSE Policy Group and a member of the Financial Reporting Council. Lindsay was awarded the OBE for services to the fund management industry in the 2005 Queen's Birthday Honours List.

back to top

Lionel Fournier, Director, CREDIT SUISSE
Lionel Fournier, Director at Credit Suisse London is currently Head of Equity&Hybrid Structuring Europe. He joined CSFB's structuring team in 2000 after 2 years experience at Banque Paribas as a quant on credit and equity derivatives. Mr Fournier holds a MSc in finance from HEC Paris School and a MSc in Math&Computer from Ecole Centrale de Lyon School.

back to top

Lionel Martinelli, Professor of Finance, EDHEC and Director EDHEC RISK AND ASSET MANAGEMENT RESEARCH CENTRE
Lionel Martellini is a Professor of Finance at EDHEC Graduate School of Business and the Scientific Director of Edhec Risk and Asset Management Research Center. A former member of the faculty at the Marshall School of Business, University of Southern California, he holds Master's Degrees in Business Administration, Economics, Statistics and Mathematics, as well as a PhD in Finance from the Haas School of Business, University of California at Berkeley.

Lionel is a member of the editorial board of The Journal of Portfolio Management and The Journal of Alternative Investments. He conducts active research in quantitative asset management and derivatives valuation, which has been published in leading academic and practitioner journals and has been featured in major European and global dailies such as The Financial Times and The Wall Street Journal. He has co-authored reference textbooks on topics related to Alternative Investment Strategies and Fixed-Income Securities.

Lionel has served as a consultant for various institutional investors, investments banks and asset management firms both in Europe and in the United States on questions related to active asset allocation decisions and alternative investment strategies, and is a regular speaker in seminars and conferences on these subjects.

back to top

Malcolm Kemp, Director, THREADNEEDLE
Malcolm Kemp joined Threadneedle in 1996 as a Director and Head of Quantitative Research responsible for the derivative desk and its portfolio risk measurement and management activities.
He is a leading expert on derivatives, performance measurement and risk measurement, on asset liability modelling and other quantitative techniques. Malcolm's recent paper "Risk Management in a Fair Valuation World" presented to the Institute of Actuaries in April 2005 covered many of these topics.
Prior to joining Threadneedle, he was a partner at Bacon & Woodrow in the investment consultancy practice.
Malcolm holds a first class degree in Mathematics from Cambridge University and is also a fellow of the Institute of Actuaries.

back to top

Marcello Minenna, Enforcement Officer, CONSOB
Marcello Minenna is an enforcement officer of CONSOB in charge of analysing and developing quantitative models for surveillance i.e. the "quant enforcement". He has taught Mathematical Models for Finance in several Italian University as contract Professor. He presently, teaches Financial Mathematics at University of Milano Bicocca. He received his Phd in Applied Mathematics for Social Sciences from the Statal University of Brescia and his M.A. in Mathematics in Finance from Columbia University. His researches focus on the application of numerical and analytical techniques for surveillance.

back to top

Maurizio Ferconi, Managing Director, Financial Engineering, PUTNAM INVESTMENTS
Maurizio Ferconi leads the Financial Engineering group at Putnam Investments, where he is responsible for risk, performance measurement/attribution systems, research, analytics libraries and applications. Prior to joining Putnam Investments, he was the Head of Risk Analysis and Asset and Liability Management at Pioneer Investments. Prior to that he was at Citadel Investments.

back to top

Michel Girardin, Member of Senior Management, UBP ASSET MANAGEMENT
Michel Girardin is a Member of Senior Management and the Senior Economic adviser of UBP Gestion Institutionnelle, the Asset Management affiliate of Union Bancaire Privée. As such, he shapes the investment strategy for Institutional clients, with an emphasis on Alternative Investments. He has more than 15 years experience as Head of Research and Chief Investment Officer for Private Banks in Geneva and Zurich. His experience includes that of managing global Equity and Bond Funds as well as an Asian Fund of Hedge Funds. He was also a senior economist for Data Resources Inc. in Milan. Michel holds a Ph.D. and B.A. in Economics from the University of Lausanne and a Master's degree of Science en Economics from the London School of Economics.

back to top

Mike Hennessy, Managing Director, MORGAN CREEK CAPITAL MANAGEMENT
Michael P. Hennessy is a Co-founder and Managing Director at Morgan Creek Capital Management. Morgan Creek provides investment services based on the University Endowment model of investment management. Morgan Creek has a joint venture with Tiger Management. Total assets are $1.8 billion

Prior to joining Morgan Creek in 2004, Mike was Vice President and Co-Founder of UNC Management Company (University of North Carolina at Chapel Hill).

Prior to joining UNC in 1999, Mr. Hennessy was an Investment Director at Duke Management Company (Duke University).

Before joining Duke in 1991, Mr. Hennessy was an Associate at Smith Breeden Associates, a quantitative investment management firm with offices in Chapel Hill, NC, and Boulder, CO.

Mr. Hennessy received his M.B.A. with a concentration in Finance from the Fuqua School of Business at Duke University, and holds a B.S. in Philosophy, Psychology and Mathematics from the College of William and Mary in Williamsburg, Va.

back to top

Oussama Nasr, Managing Director, DNA TRAINING AND CONSULTING
Oussama Nasr, a founder and Managing Director of DNA Training & Consulting, has worked in executive education since 1997. DNA provides training and advisory services to issuers, arrangers, and investors throughout the world, with a strong focus on structured products and CDOs.

Previously, Mr. Nasr was a Managing Director in Citigroup's emerging markets department, with responsibility for asset-backed securities and asset repackaging, and then spent a few years in the bank's global derivatives group where he focused on structured transactions in the equity-, credit-, tax- and sovereign-risk arenas.

Mr. Nasr began his professional career as an attorney with Shearman & Sterling, where he represented various commercial and investment banks in their fundraising activities.

Mr. Nasr received his Bachelors and Masters degrees in mathematics from Cambridge University and his Juris Doctor degree from Cornell Law School. Mr. Nasr is fluent in Arabic and French in addition to English.

back to top

Patrice Aguesse, Director, AMF
Patrice Aguesse is a director in the Regulatory Policy Division in charge of the corporate finance regulation. He joined the AMF (the French Securities Exchange Commission, formerly the COB) in June 1995 after 3,5 years in the Treasury department of Banque Sovac (Lazard's subsidiary). He started at the AMF as a senior officer in the debts and derivative products department within the corporate finance division. In April 1998 he became the head of this department and from January 2000 took charge of the banks and insurance department as well. From 2001 to 2003 he was seconded to the secretariat of the Economic and Monetary Affairs Committee (EMAC) at the European Parliament. Upon his return in January 2005 he assumed his current responsibility. He is a graduate of University of Paris I Panthéon Sorbonne, having received a Magistere d'Economie.

back to top

Patricia Cook, Chief Investment Officer, FREDDIE MAC
Patricia L. Cook, a Wall Street veteran with 25 years of experience developing and managing fixed-income investment strategies, joined Freddie Mac (NYSE:FRE) as executive vice president, investments on August 2, 2004.
Cook will be responsible for managing the company's approximately $630 billion retained mortgage portfolio and debt issuance, as well as asset/liability risk management strategies. Prior to joining Freddie Mac, Cook served as managing director and chief investment officer, global fixed income, for JPMorgan Fleming Asset Management. In her new role with Freddie Mac, Cook will report directly to Richard F. Syron, the company's chairman and chief executive officer.

Cook joined JPMorgan Fleming Asset Management, with nearly $300 billion in total assets under management, in May 2003 and was responsible for management of fixed income investments across all asset classes. Cook has also served as managing director and chief investment officer, fixed income, for Prudential Investment Management. She previously held management positions with Fisher Francis Trees & Watts and Salomon Brothers, Inc.

Cook is a graduate of St. Mary's College, and received a Masters in Business Administration degree from New York University. She has been a member of the Treasury Borrowing Advisory Committee.

Freddie Mac is a stockholder-owned corporation chartered by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has opened doors for one in six homebuyers in America.

back to top

Patrick Peugeot, Chairman of AISAM (Association Internationale des Sociétés d'Assurance Mutuelle), Chairman of La Mondiale Partenaire (LA MONDIALE GROUP)
Appointed auditor at the Court of Auditors in 1965, then moving to the Commissariat Général au Plan(1966-1970), Patrick Peugeot became General Secretary of Assurances Générales de France Vie (AGF Vie) in 1974 and Managing Director of AGF Réassurances in 1978.

In June 1983, he was appointed Chairman and Managing Director of the Caisse Centrale de Réassurance, and in November 1983, Chairman and Managing Director of the Société Commerciale de Réassurance (SCOR), the leading French reinsurance company. In 1986, SCOR floated its American subsidiary on the New York Stock Exchange (first on the Nasdaq and then on Wall Street) : it was the 3rd largest French company, quoted in the USA after L'Oréal and Club Med.

In September 1994, he joined La MONDIALE, the leading French mutual insurance company specialised in life insurance, and on the 4 January 1996, he was elected Chairman and Managing Director of La MONDIALE.

On the 30th of September 2005, he became Honorary Chairman of LA MONDIALE and non executive Chairman of LA MONDIALE PARTENAIRE. He is Chairman of FONDATION LA MONDIALE, a non profit organization under sponsorship of LA MONDIALE GROUP.

He has been also a member of the French Federation of Insurance Companies Bureau (FFSA) from January 1996 to December 2004.

From June 1997 to January 1999, he was Chairman of the Groupement des Assurances de Personnes (GAP), an association federating all the life insurance companies working in France. From January 1999 to January 2005, he was elected Chairman of the Réunion des Organismes d'Assurance Mutuelle (ROAM), an association incorporating the largest number of mutual insurance companies : from AXA to the Mutuelle de Bourgogne it includes 40 companies.

In March 1999, he was elected 1st Vice-President and Treasurer of the International Association of Mutual Insurance Companies (AISAM) which includes more than 150 mutual insurance companies around the world, particularly in Europe but also in Japan, North America and Africa, and in October 2005, he has been elected Chairman of this international Association.

back to top

Peter Jaeckel, Head of Credit, Hybrid, Commodity and Inflation Derivative Analytics, ABN AMRO
Peter Jäckel received his D. Phil. in Physics from Oxford University in 1995. After a short period in academic research, he migrated into quantitative analysis and financial modelling in 1997, when he joined Nikko Securities. When Nikko closed down its European operations in 1998, he changed to NatWest, which later became part of the Royal Bank of Scotland group. In 2000, he moved to Commerzbank Securities' product
development group, and headed up the team jointly with a co-head from 2003. Since September 2004, he has been with ABN AMRO as Global Head of Credit, Hybrid, Commodity, and Inflation Derivative Analytics.

back to top

PK Satish, CRO, DKR CAPITAL
Dr. Peruvemba Satish, CFA, serves as the Chief Risk Officer and a member of the investment committee at DKR Capital, a $3.4bln asset management firm specializing in alternative investment strategies. Earlier, he was Director of risk management department at Soros Fund Management and also held responsibilities for managing a portfolio arbitraging taxable and tax-exempt yield curve. Before moving into hedge funds Satish has held various quantitative research responsibilities in sell-side wherein he led implementation of models for interest rate term structure, pricing complex derivatives, statistical trading, non-parametric analysis, hedging strategies and portfolio construction.

back to top

Richard Evans, Chief Risk Officer (Market Risk), DEUTSCHE BANK
Richard is an Economics Graduate from Cambridge University, England. He spent over 18 years with JP Morgan, working in London, Sydney, Brussels and New York. After trading for 13 years, he moved into Risk Management from 1993 onwards, culminating in leading the whole of JP Morgan's internal Risk Management Division from 1998 to 2000.

Richard joined Deutsche Bank in April 2000 as the Global Head of Market Risk Management and Vice-Chairman of the Group Risk Committee. He is one the firm's two Chief Risk Officers and reports to the CFO on the Vorstand. He is based out of London and heads a global team of risk managers, covering all the trading, proprietary investment and other market-related risks of the whole of Deutsche Bank.

He is a Director of Euroclear Bank and a member of that Board's Risk Policy Committee. He is also a member of the Executive Committee of the International Financial Risk Institute (IFRI) and was President of IFRI from 2003 to 2005. In January 2004 he was named ‘Risk Manager of the Year' by RISK magazine.

Richard is married with two teenage children (who provide more stress tests than anything at Deutsche Bank!).

back to top

Sam Dibb, Director, CERTAIN RISK MANAGEMENT
Sam Dibb is a director of Certain Risk Management, which advises companies on strategies to hedge sports-event related risks, develop innovative marketing campaigns and negotiate effective sponsorship arrangements by making use of liquid and keenly priced betting markets. Sam also provides advice to a number of betting organisations and writes on gambling and financial markets-related subjects for various publications. Previously, Sam spent over 10 years with PwC as an accountant and consultant to capital markets firms and is a reasonably good amateur gambler.

back to top

Søren Daghlaard, Head of Investment and Risk Management, NORDEA LIFE AND PENSIONS
Søren Dahlgaard has been Head of Investment and Risk Management of Nordea Life & Pensions €30bln portfolio since 2003. Nordea Life & Pensions is mainly active in the Nordic countries and Poland. From 1998 to 2002 Søren was Chief Investment Officer with a Danish financial services conglomerate. From 1989 to 1998 Søren worked in Unibank (now Nordea) in positions ranging from fixed income analyst to head of equity trading. Søren has tought graduate courses in quantitative financial modelling and been advisor on master thesis projects at Copenhagen Business School. Furthermore he is appointed examiner in Mathematics, Economics and Finance at Danish graduate schools. Søren Dahlgaard has studied in France, Switzerland, USA and Denmark and he holds a M.Sc. in Mathematics and Economics from University of Aarhus, Denmark.

back to top

Dr Stephen Christie, Global Managing Director, Financial Services, Finance and Performance Management, ACCENTURE
Dr Stephen Christie is the Global Lead Managing Partner for Accenture's Financial Services' Finance & Performance Management practice. He has over 20 years experience in the development of advanced risk management, derivatives, finance, and operations solutions. Some of his past experience includes the origination and validation of special purpose vehicles for derivatives, global Basel II solutions, development of enterprise performance management models, and the establishment of enterprise-wide shared service functions. Stephen has degrees in Computer Science, Economics & Statistics, an MBA in Finance, and a PhD in Financial Engineering applied to Real Markets.

back to top

Stephen Stone, FSA, CFA, is a Vice President at AIG where he runs the Retirement Services Division’s Market Risk Management group. He has an MS in Quantitative Analysis from NYU Business School and an MS in Financial Mathematics from the University of Chicago. He has 20 years of experience in derivatives management and actuarial positions. His derivatives experience includes seven years of hedging options portfolios using dynamic hedging techniques.

back to top

Terry Leitch, Director, BOEING CAPITAL
Mr. Leitch has 22 years of derivative experience and has spent the last 15 years in fixed income and credit derivatives. He holds a BA in Math from the University of Chicago and an MS in Applied Math from Northwestern University, as well an MBA from The London Business School.

back to top

Thomas C. Wilson, General Manager, Chief Insurance Risk Officer, ING Group
Tom is currently General Manager, CIRM and Chief Insurance Risk Officer of ING Group. Prior to joining ING in 2005, Tom was the Global Head, Finance & Risk Practice, of Mercer Oliver Wyman where he served banks and insurance companies globally on risk strategy and organizational issues. Prior to joining MOW in 2002, Tom was CFO/CRO of Swiss Re New Markets, the alternative risk transfer and capital markets business of Swiss Reinsurance Company. Prior to joining Swiss Re New Markets in 1998, Tom was the Global Head, Risk Management Practice, of McKinsey & Company. Tom earned his BSc

back to top

Thomas Schubert, Head of Business Administration, GERMAN INSURANCE ASSOCIATION
Dr. Thomas Schubert is head of the Business Administration Institute of the German Insurance Association. In addition to Solvency II, this includes, inter alia, responsibility for the areas of risk management, asset liability management, qualitative financial supervision and fundamentals of controlling.
He studied business data processing at the Technical University of Darmstadt and subsequently was an academic staff member at the Chair for Banking of the University of Hohenheim/Stuttgart. During his long-standing activity as a business consultant in the financial services field he implemented various projects focusing on controlling, risk management, accounting and organization in companies of different size. In doing so he gathered his professional experience both at home and abroad.
Moreover, he published numerous articles on subjects relating to insurance and banking.

back to top

TJ Lim, Founding Partner, NEWSMITH CAPITAL PARTNERS
T J Lim is a leading practitioner in the management and re-structuring of collateralised debt obligations (CDOs), with over 20 years' experience in all aspects of the fixed income business. Before establishing NewSmith Financial Solutions in 2003, he was Managing Director and Head of International Debt Markets at Merrill Lynch, having previously held similar positions at Dresdner Kleinwort Benson and UBS. T J has a first class honours degree in Mechanical Engineering from the University of Glasgow, a Master of Applied Science in Operations Research from the University of Waterloo, Canada, and an MBA with distinction from NYU Business School.

back to top

Vladimir Piterbarg, Head of Fixed Income Quantitative Research, BARCLAYS CAPITAL
Vladimir Piterbarg is the head of fixed income modelling at Barclays Capital. Before joining Barclays Capital in March 2005, he was a co-head of quantitative research for Bank of America, where he had worked for 8 years. Vladimir Piterbarg's main areas of expertise are the modelling of exotic interest rate and hybrid derivatives. He holds a Ph.D. in Mathematics (Stochastic Calculus) from University of Southern California.

back to top

Walter Neuenschwander, Head of Financial Engineering Treasury, ZURCHER KANTONALBANK
Walter holds a M.Sc. in Mathematics and a Ph.D. in Technical Sciences both from ETH Swiss Federal Institute of Technology.
He works with Zürcher Kantonalbank ZKB the leading financial institute in the Zurich economic region. As part of the bank's treasury department where he is Head of the Financial Engineering Treasury group. The group is responsible for all financial engineering aspects related to ALM and their current focus is on applying new concepts, techniques and approaches for optimal balance sheet management.
Before joining ZKB Walter was with a financial consulting company realising an asset-liability-management solution for private investors accessible now on the internet. Before switching to ALM he used to work with UBS on a global FX- and Fixed-Income risk management system being responsible for the implementation of derivative products.

back to top

William Perraudin, Professor, IMPERIAL COLLEGE
Professor William Perraudin is Head of the Accounting, Finance and Macroeconomics Department at Tanaka Business School and Director of the new MSc degrees in Risk Management and Financial Engineering.

His research interests include risk management, structured products, the pricing of defaultable debt, portfolio credit risk modelling and financial regulation.

For seven years, Professor Perraudin worked part-time as Special Advisor to the Bank of England and was deeply involved in the financial engineering behind the current Basel II proposals for bank capital. He has consulted with numerous banks and public bodies.

Professor Perraudin was formerly the head of the finance group in Birkbeck College. He is an Associate Editor of Quantitative Finance, the Journal of Banking and Finance and the Journal of Credit Risk.

back to top