EU Capital Markets and Banking Regulation – Competitive at Global Scale?
Keynote
Dr. Bettina Orlopp, COMMERZBANK
Dr. Bettina Orlopp has been the CEO of Commerzbank AG since October 2024. She is responsible for Audit, Communications, Corporate M&A and Investments as well as Legal, Strategy, Transformation & Sustainability and Research. Previously, she served as the Deputy CEO and was responsible for the CFO area including Finance, Tax, Investor Relations and Treasury. In 2017, she became a member of the Commerzbank Board, heading the Legal, Compliance and Human Resources divisions. She joined Commerzbank in 2014 as Head of Group Development & Strategy. Dr. Bettina Orlopp began her professional career in 1995 as a management consultant at McKinsey & Company, where she was appointed Partner in 2002. She is married and has two children.
Moderation
Susanne Matern, Fitch Ratings Ltd.
Susanne Matern leads the ABS and RMBS sectors within Fitch's European Structured Finance Ratings Group, with teams in London, Frankfurt, Madrid, Milan and Paris. Susanne also oversees Structured Finance in APAC and retains responsibility for EMEA cross-sector topics and related inquiries. She is responsible for maintaining rigorous credit standards across her teams while fostering analytical excellence and delivering actionable market insight to investors and issuers. Susanne regularly engages with market participants and speaks at industry conferences.
Previously, Susanne led Fitch's EMEA Structured Finance team, covering ABS, ABCP, RMBS, CMBS and SC.
Earlier in her career, Susanne managed the Structured Finance Ratings Group in continental Europe and led Covered Bonds in German-speaking markets.
Participants
Souad Benkredda, DZ BANK
Souâd Benkredda joined the Board of Managing Directors of DZ BANK AG in September 2022, where she is responsible for Capital Markets: Institutional Clients, Trading and Retail Banking; Group-Treasury, Structured Finance. In addition, she is responsible for the foreign branches and representative offices. She was previously Global Head of Strategic Investor Group Sales at Standard Chartered Bank, responsible for servicing an institutional clients segment globally. She started her career in 2001 in the Global Markets division of Deutsche Bank and held various management positions in different markets over the course of 16 years in Frankfurt, Dubai and London. Born in Frankfurt, Souâd Benkredda studied Business Administration in Frankfurt am Main and Paris, graduating with a "Diplom-Betriebswirtin" (MBA) and a "Maîtrise en Sciences de Gestion".
Jayee Koffey, BNY
Jayee Koffey is Chief Global Affairs Officer at BNY and a member of the Executive Committee.
In this role, she leads BNY’s commercial enablement and go-to-market strategies and is responsible for shaping the firm’s positioning with clients and key stakeholders globally. Jayee chairs the BNY Institute and oversees marketing, sustainability and global affairs.
Jayee serves as Executive Sponsor for the Women’s Initiative Network and chairs the BNY Foundation. She is also on the board of the French-American Foundation.
Jayee previously held a number of senior roles at Goldman Sachs. Since joining BNY in 2022, she has drawn on extensive leadership experience in roles spanning risk, regulatory relations, ESG, finance, and international markets. Her earlier career includes private equity and investment banking. She holds an MBA from Harvard Business School and degrees from UC Berkeley and the University of Auckland. Jayee lives in New York City with her husband and three children.
Dr. Volker Treier, DIHK
Dr. Volker Treier is Chief Executive of Foreign Trade and Member of the Executive Board, responsible for International and European Economic Affairs, the network of bi-national German Chambers, Delegations and Representations of German Industry and Commerce (AHKs) in 93 countries worldwide.
11:15 - 12:00
Coffee break
12:00 - 13:00
Investor Kick-off
Englisch
Where are Public ABS Markets heading to?
Moderation
Heike Hoehl, ING Bank
Heike leads the ABS Syndicate team at ING. She brings over 30 years of experience in fixed income markets, including 15 years on the syndicate desk of Santander, specialising in funding and SRT ABS transactions. Her expertise spans the placement of public and private multi tranche and full capital stack ABS deals—both cash and synthetic—across multiple currencies, jurisdictions, and asset classes, including RMBS, Consumer Loans, Auto Finance, Credit Cards, SMEs, Large Corporates and Leveraged Loans.
Participants
Christian Aufsatz, Morningstar DBRS
Christian heads up the European Structured Finance and Covered Bonds ratings team at
Morningstar DBRS. He joined Morningstar DBRS in October 2015 and was previously the
head of the European ABS Research team at Barclays Bank where he covered the European
CMBS and SME CLO sectors, in addition to general European securitisation and regulatory
topics. Until September 2010 Christian was with Moody’s, where he headed up the EMEA
CMBS team. During his time with Moody’s, he was involved in the development and
implementation of rating methodologies for RMBS and for CMBS.
Christian graduated from Frankfurt School of Finance & Management, Frankfurt am Main,
Germany, in 2002. He is a CFA charterholder and Cert CRP.
Asset Classes
Deutsch
Trade Receivables & ABCP – Finanzierung der Realwirtschaft
Moderation
Sandra Wittinghofer, Baker McKenzie
Sandra Wittinghofer advises national and international banks and corporations in matters of finance and regulatory law. Her focus on structured finance and related banking regulatory matters covers work for arrangers, sponsors, originators, trustees and rating agencies. She has extensive experience in ABCP securitization transactions as well in term transactions, covering a wide range of asset classes. Since June 2019, she has been listed under "Best Lawyers" for Banking and Finance and Banking Regulatory law by Handelsblatt and is also ranked in Chambers Europe 2023 for Capital Markets - Structured Finance.
Participants
Dr. Sahra Demirbilek, Ashurst Perkins Coie
Dr Sahra Demirbilek is a counsel in our finance practice and a member of our global markets group.
Sahra is a securitisation specialist focusing on advising banks and companies, particularly in relation to true sale transactions in respect of various asset classes, including auto loans, leases, consumer finance, NPL and trade receivables.
Sascha Chevalier, LBBW
Sascha Chevalier ist Head of Origination im Segment Securitization Trade Receivables der LBBW und berät seit nahezu 25 Jahren große Mittelständler und Konzerne bei komplexen Fragestellungen rund um das Thema Working Capital Management.
Constanze Schmidt, Maples Group
Constanze heads our Client Accounting and Structured Finance teams in Luxembourg, specialising in providing accounting (Lux GAAP and IFRS), administration and regulatory reporting services for Luxembourg structured finance vehicles and holding companies. Constanze joined the Maples Group in 2014. She previously worked with KPMG Luxembourg, PWC Luxembourg and Volksbank Gardelegen in Germany.
Nicolas Kipp, Credibur Gmbh
Nicolas Kipp is founder and CEO of Credibur, a Berlin-based fintech founded in 2024 that automates the management of credit facilities between non-bank lenders and institutional capital providers. Credibur replaces fragile, Excel-based processes with modular, AI-first infrastructure: the Calculation Agent handles borrowing base calculations and covenant monitoring, the Cash Manager oversees capital calls and payment flows, and the Backup Servicer safeguards the portfolio's servicing continuity. Previously, Nicolas co-founded Banxware and served as CRO at Ratepay.
Sebastian Böhm, DZ BANK
Sebastian Böhm has been working as a Structurer at DZ BANK AG since 2025. In this role, he is responsible for the origination and execution of securitisation transactions, with a particular focus on the securitisation of trade receivables for DZ BANK’s corporate clients. Prior to joining DZ BANK, he worked as a Structurer at a cooperative financial institution, where he supported transactions for the refinancing of factoring and leasing receivables. He holds a Master of Science with a focus on Banking & Finance.
Regulation
Englisch
Luxembourg Securitisation Hub – Trends
Moderation
Andreas Heinzmann, GSK STOCKMANN
Andreas Heinzmann is a partner within the capital markets and banking group in the Luxembourg office of GSK Stockmann. He specialises in securities law, capital markets regulation and international banking work. Andreas Heinzmann advises clients on the issue of debt and equity securities (including stock exchange listings), securitisations, high yield bonds, repackagings, structured products and derivatives as well as syndicated lending, leveraged finance and debt restructuring. He publishes regularly in this field of expertise.
Participants
Zamyra H. Cammans, Circumference FS
Holger von Keutz, PricewaterhouseCoopers
Holger von Keutz, a German Wirtschaftsprüfer and Luxembourg Réviseur d'entreprises agréé, is a Partner in the assurance department of PwC Luxembourg, furthermore leading the Securitisation business. Besides being responsible for the audit of Luxembourg securitisation vehicles, Holger von Keutz provides financial and regulatory advice as well as advice on the set-up of structured products. Furthermore, he is involved in audit and audit-related services to credit institutions, asset managers, and investment firms, and has extensive experience in the audit of annual accounts and consolidated accounts under LuxGAAP, HGB, and IFRS.
Holger von Keutz is a lecturer in audit and financial reporting at the University of Applied Sciences Trier and he has authored several securitisation-related publications in Luxembourg.
Frank Mausen, A&O Shearman
Frank is one of the leading Capital Markets and Banking & Finance Partners at Allen & Overy in Luxembourg. He specialises in securities laws and capital markets regulation, including stock exchange listings. Clients include banks as well as corporate, institutional, supranational and sovereign issuers for whom he advises on debt and equity transactions and structured finance transactions including securitisation, structured products, covered bonds, IPOs, placements and buy-backs of securities, exchange offers, listing applications and ongoing obligations deriving from such listings. He has more than 20 years of experience in these areas. Frank is also the Market Intelligence and Know-How Partner at Allen & Overy in Luxembourg.
Frank regularly holds conferences on securitisation and other capital markets topics in Luxembourg and abroad. He is a member of the securitisation working group of ALFI (the Association of the Luxembourg Fund Industry) and the securitisation working group and the financial markets committee of the ABBL (the Luxembourg Bankers’ association). Frank is also a member of the Islamic Finance working group of Luxembourg for Finance (Luxembourg’s agency for the development of the Luxembourg financial centre) and has joined the Haut Comité de la Place Financière (a committee set-up by the Luxembourg Ministry of Finance aiming to modernise Luxembourg’s financial sector legislation). Frank is also the secretary of the Luxembourg Capital Markets Association (LuxCMA).
Frank served from 2018 to 2020 as Managing Partner of Allen & Overy Luxembourg.
“Frank Mausen is ‘always up to speed and assists us very well’, applauds one client. He has a strong practice advising clients on DCM mandates, including establishing EMTN programmes, bond issuances and setting up securitisation vehicles.” Chambers and Partners
Michele Barbieri, CSC
Dr. Michele Barbieri holds a PhD in international economic law from Bocconi University, an MBA from EDHEC business school, an MSc in international relations and a BSc in international sciences from the University of Milan. Since 2012 he has been working in Luxembourg, where he has held senior legal and tax roles with big4 consultancies, corporate service providers and an asset manager. Previously, he worked as university researcher and lecturer of economic law and as consultant for governmental and intergovernmental organizations on legal matters governing international investments. He joined CSC (at that time Intertrust) in 2021 where he leads a team of legal and accounting professionals in charge of a portfolio of securitization vehicles and other capital markets entities. He also supports the commercial development activities of the capital market segment in Luxembourg, Italy and Germany and several strategic legal assignments. A native Italian speaker, he is fluent in English, French and has a good knowledge of Spanish.
Arkadiusz Arek Kwapien, Cafico International
Arkadiusz (Arek) Kwapien is Director of Corporate Services in Cafico International’s Luxembourg office. He is responsible for the overall management and delivery of corporate services to Luxembourg-domiciled companies.
Arkadiusz has over 19 years of experience in financial services acquired in top European centres: Ireland and Luxembourg. Having worked with various service providers, Big 4 and banks, he has a strong understanding of the Luxembourg regulatory framework and the various structuring opportunities available to investment firms, venture capitalists, arrangers, and issuers wishing to set up their local vehicles. He acts as director of numerous client companies ensuring proper governance and compliance with applicable laws and regulations. Arkadiusz is an active member of the Luxembourg Capital Markets Association (LuxCMA).
Asset Classes
Englisch
Residential Mortgage Securitisation – Between Covered Bonds and Portfolio Transactions
Moderation
Claire-Marie Mallad, White & Case
Claire-Marie Mallad is a partner partner in the firm's Capital Markets group in Frankfurt practicing in the areas of Debt Capital Markets, Structured Finance and Bank Regulatory laws. Claire-Marie represents financial institutions and investors on a wide range of capital markets transactions with a particular focus on structured finance products, including asset-backed and risk transfer transactions for the purposes of managing a bank’s exposure to credit risk. Furthermore she advises on regulatory capital issuances and advises issuers on the establishment and update of refinancing platforms, including EMTN and CP programmes including advice on regulatory laws and their implications on bank issuers and their creditors.
Participants
Olga Kashkina, ING Bank
Securitisation professional with experience across origination, rating analysis, cash flow modelling, portfolio valuation and legal documentation review. Experienced across European RMBS, auto and consumer loan ABS, SME lending and equipment leasing, with active coverage of German, BeNeLux and UK clients.
Jens Tolckmitt, vdp
Jens Tolckmitt, born in 1971, was appointed Chief Executive of the Association of German Pfandbrief Banks (vdp) in June 2009.
Between January 2003 and May 2009, he served as the Managing Director of the Association of Foreign Banks (VAB) in Germany. Before that, from 1998 to 2002, Jens worked for the Association of German Mortgage Banks in Bonn and Berlin (the predecessor organization of the vdp) in several positions, finally heading the capital markets department of the association. Prior to this he studied economics, specializing in monetary macroeconomics and finance, and graduated in 1998.
Ruben van Leeuwen, DMFCO
Ruben van Leeuwen is Senior Manager Business Development at DMFCO, the largest independent residential mortgage platform in the Netherlands with EUR 35bn AuM and 50 institutional investors.
Before joining DMFCO, Ruben spent 12.5 years at Rabobank in debt capital markets and research, both with a strong focus on RMBS and covered bonds. In DCM he led the FI team, originating and executing secured and unsecured debt transactions for banks and insurers across Europe. In research, he built and ran Rabobank's ABS franchise, producing daily commentary, thematic reports and regular investor visits, with particular attention to regulatory change. Prior to Rabobank, he started his career as an economist at ABN AMRO.
Ruben is a CFA charterholder and holds an MSc in International Economics from Maastricht University.
Ulf Kreppel, Jones Day
Ulf Kreppel's practice focuses on cross-border securitizations and structured finance transactions. Amongst his clients are international financial institutions, investment firms and so-called "alternative capital providers".
With more than 20 years of product experience, Mr. Kreppel has extensive expertise in the structuring and execution of structured finance transactions. This includes public and private securitizations, asset-based lending and covered bond transactions, structured as stand-alone term transactions as well as asset-backed notes programs. Mr. Kreppel advises on a variety of asset classes, such as auto loans and leases, consumer credits, trade receivables and real estate loans. He also acts as program counsel for several European-based asset-backed commercial paper programs.
Mr. Kreppel has advised on a number of innovative and market-first transactions, including the purely blockchain-based issuance and settlement of asset-backed commercial paper. In addition, he regularly advises on regulatory aspects in financing transactions, e.g. on so-called "simple, transparent and standardized" (STS) securitizations as well as questions regarding the European Securitization Regulation. Mr. Kreppel has coauthored several articles on the legal risks and structural solutions for securitizations.
13:00 - 14:30
Lunch break
13:30 - 14:15
Lunch Special
Englisch
AI – Tectonic Shift and Impact on the Financial Industry
Participants
Anika Oberbillig, Maples Group
Anika specialised in providing fiduciary services to structured finance and securitisation companies since 2018. She and her team are covering the whole lifecycle of Luxembourg companies from incorporation over the administration of the daily business, corporate governance, monitoring and risk management as well as liquidations. She also serves as a director on the board of Luxembourg securitisation vehicles, including regulated ones.
Previously, Anika worked in the audit sector with KPMG Société Coopérative in Luxembourg in the audit of banks and securitisation vehicles for over 6 years. Prior to this, Anika worked at Deutsche Postbank AG in Credit Risk Controlling for two years in which she mainly focussed on regulatory compliance and projects.
Aleksander Kling, European DataWarehouse
Kwaku Owusu-Oware, HTW Berlin (University of Applied Sciences)
Data and AI professional with more than six years of experience in insurance, banking and technology. Former Acting Head of IT at Ghana Union Assurance, leading the IT department across 3 branches and 15 agencies and reporting directly to executive management. Now based in Berlin, completing a master's degree at HTW Berlin while leading the university's AI assistant project for its Student Services. An experienced presenter who explains complex technology in clear, simple language to executives, auditors and non-technical audiences
14:30 - 15:30
Market Trends
Deutsch
Private Credit: Finanzstabilität durch Diversifikation?
Keynote
Michael Theurer, Deutsche Bundesbank
Michael Theurer has been a member of the Deutsche Bundesbank’s Executive Board since September 2024, where he is responsible for financial supervision and financial stability. In this capacity, he is also a member of the Supervisory Board of the Single Supervisory Mechanism at the European Central Bank, the German Financial Stability Committee and the Committee on the Global Financial System of the Bank for International Settlements.
Prior to joining the Bundesbank’s Executive Board, Mr Theurer, an economist by training, was a member of the German Bundestag from 2017 to 2024. From 2021 to 2024 he was parliamentary State Secretary at the Federal Ministry for Digital and Transport and, from 2022 to 2024, the Federal Government Commissioner for Rail Transport.
From 2009 to 2017, Mr Theurer was a member of the European Parliament and, from 2011 to 2014, Chair of the European Parliament’s Committee on Budgetary Control.
From 1995 to 2009, Mr Theurer was Lord Mayor of the city of Horb am Neckar.
Moderation
Dr. Stefan Henkelmann, A&O Shearman
Career history
Partner, Allen & Overy LLP, Frankfurt, since 2015
Counsel, Allen & Overy LLP, Frankfurt 2012 - 2015
Associate, Allen & Overy LLP, Frankfurt, 2009 - 2012
Associate, Hengeler Mueller, Frankfurt, Düsseldorf and London, 2003 -
2009
Legal qualifications
Assessor, Germany, 2002
Referendar, Germany, 2000
Academic qualifications
Dr iur, Julius-Maximilians University of Würzburg, Germany, 2008
Second German Law Degree, 2002
First German Law Degree, 2000
Publications
Geier/Henkelmann: "New Regulatory Developments for the Use of
Derivatives in Structured Finance Transactions", in: Journal of
International Banking Law and Regulation (JIBLR), volume 29, issue 3,
2014, p. 191 et seqq.
Henkelmann/Geier: "EMIR – Auswirkungen auf
Verbriefungstransaktionen" [EMIR – Impact on Securitisation
Transactions], in: Risikomanager, issue 19, 2013, p. 11 et seqq.
Henkelmann: "Debt Refinancing and Restructuring", in: Lawyer Monthly
Magazine – Legal Focus – Germany: Debt Refinancing and Restructuring,
July 2013
Kusserow/Henkelmann: "Neue Perspektiven für Whole Business
Securitisations?" [New Perspectives for Whole Business Securitisations?],
in: Risiko Manager, 19/2012, p. 12 et seqq.
Henkelmann S. (2009): "Schwebende Vertraege in der Insolvenz – Zum
Wahlrecht des Insolvenzverwalters nach § 103 InsO", Hamburg 2009
Languages
English, (Level 1 - Fluent/Bilingual)
French, (Level 4 - Can participate in business meetings/review simple
documents)
German, (Level 1 - Fluent/Bilingual)
Participants
Dr. Dennis Heuer, White & Case
Widely recognised as a leading finance and capital markets lawyer, Dennis has over two decades of experience advising domestic and international clients on a broad spectrum of complex cross-border transactions.
A partner in the Firm’s Global Capital Markets Practice, Dennis co-heads the EMEA Private Asset-Backed Credit and Structured Finance Group and is a core member of the firm-wide ESG and Financial Institutions Industry Groups. His practice spans a diverse range of sectors, with a particular focus on private credit, structured finance, fund finance, bank regulatory and securitisation. Dennis has extensive experience representing banks, private credit providers, asset managers, funds, insurance companies, debt collection companies, multinational corporates and fast growth companies in transactional and advisory mandates. His track record includes advising on securitisations, bank lending transactions, regulatory capital deals, and complex financing structures that bridge the fund finance, securitisation and corporate finance markets. Recognised for his structuring skills and ability to deliver innovative and market-leading solutions, Dennis has played a key role in the growth of private credit and the ongoing convergence of funding markets.
Prof. Dr. Sascha Steffen, Frankfurt School of Finance & Management
Sascha Steffen ist Professor für Finance an der Frankfurt School of Finance & Management und DWS Senior Chair in Finance. Er forscht mit Hilfe neuester empirischer Methoden und innovativer Daten an der Schnittstelle von Finanzmärkten, Regulierung und realem Sektor. In aktuellen Projekten stellt er Fragen zu den Folgen des stetig wachsenden Schattenbankensektors, Preisabsprachen von Banken bei Syndizierungen oder dem „Brexit“. Seine Forschung wurde in den führenden Fachzeitschriften wie dem Journal of Finance, dem Journal of Financial Economics und dem Review of Financial Studies publiziert und hat viele Forschungspreise gewonnen. Die amerikanische Einlagensicherung (FDIC), die Deutsche Forschungsgemeinschaft (DFG) und andere Organisationen haben die Forschung von Sascha Steffen unterstützt. In 2010 hat er das Lamfalussy Fellowship der Europäischen Zentralbank (EZB) gewonnen.
Sascha Steffen spricht regelmäßig auf internationalen Konferenzen, Tagungen von Unternehmen und Konferenzen und Workshops, die von Zentralbanken, Ministerien oder internationalen Organisationen wie der Bundesbank, der EZB, des Europaparlaments, der amerikanischen Zentralbank, dem Weltwährungsfonds oder der FDIC organisiert werden.
Er hat verschiedene Lehrprogramme auf Master-, MBA-, Executive- und PhD Ebene entwickelt und fungiert als Berater für Banken, Zentralbanken und Asset Manager.
Christian Burkard, DCCP Deutsche Credit
Christian Burkard, Investment Partner, Deutsche Credit
Christian Burkard is Investment Partner at Deutsche Credit. Prior to joining Deutsche Credit, Mr. Burkard worked for more than 12 years in Barclays' Investment Banking division in Frankfurt, during this time he was responsible for Financial Sponsor Coverage in the DACH region and advised several corporates on C-level. In this role he led numerous Leveraged Finance and M&A transactions. Before joining Barclays, Mr. Burkard worked for more than five years in GE Capital's Leveraged Finance team in Frankfurt and London and supported the opening and growth of the Frankfurt office. He started his career at DZ Bank in Frankfurt and New York, where most recently he was part of the Leveraged Finance team. Christian holds an MBA with distinction from INSEAD as well as a Bachelor of Business Administration from Frankfurt School of Finance & Management.
SRT Investor Roundtable
Englisch
Market Trends, Performance & Outlook
Moderation
Dr. Patrick Scholl, Mayer Brown
Dr. Patrick Scholl is a Partner and Leader of our German offices capital markets, financial services regulatory, and regulatory offerings. He advises on debt capital markets, structured products and derivatives, structured finance and financial regulatory matters. His team focuses on bonds, repackagings, synthetic risk transfers, bank hybrid and MREL capital, liability management transactions, derivatives regulation, central clearing and related prudential, ESG, digital, benchmark, payment services and outsourcing matters. Patrick is appointed by banking and market associations to assist in the development of new standards for the derivatives and capital markets.
Participants
Joanna Kosek, Christofferson Robb & Company
Joanna Kosek is Partner and Managing Director at CRC. As Head of Germany and Poland she is active across all Northern and Eastern European regions with primary responsibility for structuring and originating synthetic and true sale SRT transactions with banks on diverse asset pools.
Joanna is also Chair of the ESG committee, setting the Firms approach in the blind pool and real asset areas. She joined the Firm in 2009 from the structured finance team at Assured Guaranty in London, where she specialized in collateralized loan obligation investments. Prior to Assured Guaranty, she worked in the Credit Asset Management Department at Dresdner Kleinwort, structuring capital relief transactions for the bank and optimizing the bank's RWA. She has a First Class B.Sc. in mathematics and computer science from the University of London (2003). She wrote her MSc Thesis in Pure Mathematics at Imperial College London (2004). She is based in London.
Som-lok Leung, IACPM
Portfolio Managers (IACPM). The IACPM is a non-profit industry association dedicated to advancing the practice of credit portfolio management through advocacy, research, education, communication and promotion of sound practice. The association has grown enormously in its 15 year history; its membership now comprises over 100 financial institutions around the globe. In his role, Som-lok oversees all aspects of the association, and reports to the IACPM Board of Directors. Previously, Som-lok was a Senior Director in the Moody’s KMV Client Solutions group, working with a wide range of banks, insurance companies, and asset managers. Prior to joining MKMV, Som-lok accumulated over a dozen years of risk management experience, both in staff positions and as a management consultant. Som-lok has been Director of Risk Policy at Nomura Securities, responsible for covering both market and credit risk on the New York trading floor, and also Director of Credit Risk Control at the Union Bank of Switzerland in NY, responsible for both counterparty credit risk and risk measurement and management for the corporate loan portfolio. This followed a career as a management consultant at Oliver, Wyman & Co. that focused primarily on risk management. Som-lok graduated summa cum laude from Harvard University.
Andras Vajda, iconicchain
András Vajda is CEO and Co-Founder of iconicchain, the company behind iconicSecurities, the platform for structured finance. He has more than 20 years of executive and technology leadership experience and has delivered over 30 securitization and regulatory compliance projects with multinational banks and regulators. Before iconicchain, he led several large-scale programs at Ericsson that became high-growth, high-margin businesses. András holds an MSc in Distributed Systems and is the author of several articles and a book.
Dr. Arne Klüwer works as a Partner for Dentons in Frankfurt am Main. He heads the German banking and finance practice and the structured finance practice in continental Europe. He specialises in structured finance and restructurings with a special focus on securitisation and factoring, asset-based lending, innovative financings in the area of renewable energies as well as loan trading transactions. This includes wide-ranging experience in the securitisation of receivables originating from all traditional as well as more exotic asset classes, including trade receivables, secured and unsecured loans with various maturity profiles, lease receivables, hereditary building rights, consumer loans and telephone receivables. A presently especially relevant experience is his experience acting for an arranger and investor in the context of the structuring over the workout to the insolvency and the effects on a transaction for the securitisation of solar lease receivables originating from long-rental contracts over privately operated solar power plant installations in transactions with granular portfolios across all of Germany.
In addition, he has a strong focus on advising lenders and creditors in workout situations and in the context of restructuring distressed debt. His doctorate focusses on a comparative legal analysis of the legal framework for securitisations in the USA and in Germany and is one of the first academic writings on the subject of securitisation in Germany.
Participants
Robert Westermann, Openbank Germany
Robert Westermann has been responsible for structuring in the ABS department of Santander Consumer Bank AG (SCB) in Mönchengladbach since 2019. Here, the focus is on equity management transactions and the implementation of captive and joint venture funding transactions. Previously, Robert spent four years at Raiffeisen Bank International AG, structuring client transactions in the area of auto and consumer ABS as an arranger. Robert graduated from the Swiss Federal Institute of Technology (ETH) Zurich with a Master‘s degree in „Management, Technology and Economics“.
Dr. Gaby Trinkaus, Moody´s
Dr. Gaby Trinkaus, CFA, is a Senior Vice President and manager in the structured finance surveillance group covering European securitization transactions backed by residential mortgage, auto and consumer loans. She leads a team of analysts in Frankfurt, Milan and Paris and oversees projects regarding credit analysis and process optimization. Prior to joining Moody’s, she worked as a Senior Manager in securitisation services at Deloitte managing projects at asset managers and banks regarding significant risk transfer, effectiveness and adequacy of controls and data quality. Gaby studied at the university of Münster, completed her doctorate degree at the banking department, University of Cologne, analyzing regulatory capital relief from synthetic RMBS. Gaby is a CFA® charterholder.
Salah Maklada, SVI
Salah has been a Director of STS Verification International GmbH since March 2023. He joined the STS Verification International GmbH team in July 2021, bringing in 10 years of securitisation experience gained through his work in the Credit and Securitisation team of Deloitte.
His responsibilities at Deloitte covered trustee and verification services for a wide range of clients in Germany (originators, investors and sponsors) in various synthetic and true sale transactions.
As a Senior Manager at Deloitte he was mainly responsible, as the lead manager, for the performance of agreed-upon procedures and credit file due diligences at banks in the context of securitisation and portfolio transactions for consumer, auto and mortgage loans. Salah was also responsible for the performance of several asset audits at medium-sized businesses with regards to trade receivables securitised in ABCP transactions.
Salah holds a degree (Diploma) in Business Administration from the University of Cologne.
Tel: +49 (0)69 8740 344-45
E-mail: salah.maklada@svi-gmbh.com
CV
Work experience
since
March 2023 Director, STS Verification International GmbH, Frankfurt am Main
2021 - 2023 Associate Director, STS Verification International GmbH, Frankfurt am Main
2011 – 2021 Senior Manager (2020-2021) Credit & Securitisation Advisory, Deloitte Wirtschaftsprüfungsgesellschaft GmbH, Düsseldorf
2015 – 2016 Assistant Manager (Secondment) Banking & Capital Markets, Deloitte LLP, London (UK)
Education
2005 – 2011 Master of Science in Business Management (Diploma degree program): Fields of Specialisation: Banking, Finance and Economics. Master Thesis: “The instruments of credit risk transfer in cooperative financial institutions in Germany”; University of Cologne
1997 – 2001 High school in Haifa, Israel. Degree: Israeli high school certificate
Market Trends
Englisch
Inventory & Warehouse Finance – Scaling Up Business Models Forward
Moderation
Jördis Heckt-Harbeck, Linklaters
Jördis Heckt-Harbeck has specialised experience in debt capital markets products with a focus on asset based structured finance, including, in particular, true sale and synthetic securitisation, warehouse financings (in particular, in the area of FinTech and digital business models), structured covered bonds, high yield bonds, secured bank financings and other secured financing of various asset classes. She has expertise in ship and consumer finance and also regularly advises on portfolio sales and NPL transactions. She is recognised by Legal 500 Germany 2026 as a "partner of the next generation" in the field of Capital Markets Law: Structured Finance and Securitisation. She is also ranked as one of the leading lawyers by Chambers Germany/Global 2026 and as a rising star by JUVE 2025/2026 in the area of structured finance.
Participants
Dr. Ivan Zlatanov, Ashurst Perkins Coie
Dr Ivan Zlatanov is a counsel in our structured finance practice in Frankfurt and a member of our global markets group
Ivan is a structured finance and capital markets expert focussing on advising banks and companies, particularly in relation to specialty finance, true sale securitisation transactions in respect of various asset classes, including auto loans, leases, consumer finance, NPL and trade receivables as well as loan portfolio transfer transactions.
Further, he advises on derivatives and regulatory matters in connection with structured finance and securitisation transactions.
Stefan Rolf, ROLF Advisory
Stefan Rolf is an internationally experienced senior executive in finance and banking with a strong global network. He has a proven track record of building and transforming businesses and driving change. Stefan has deep expertise in corporate treasury, debt capital markets, securitization, and private debt, as well as a focus on sustainable and impact financing solutions. Before founding ROLF Advisory GmbH, Stefan has held various international leadership roles, including Global Head of Securitisation and Private Debt at IQ-EQ, Global Head of Balance Sheet Distribution and Securitisation at ING Wholesale Bank as well as Head of Securitisation and Treasurer of the Asia-Pacific region at Volkswagen Financial Services. Stefan has worked on many ground-breaking and innovative transactions in the global securitisation and structured finance markets, such as first time transactions in China, Turkey and Brazil. He has also done deals across a broad range of asset classes such as auto, consumer lending, SME loans, equipment, infrastructure and sustainability improvement loans and even more esoteric ones. Stefan is a frequent speaker at structured finance/capital markets events in Europe, the US and the Asia- Pacific region, and has worked closely with the European Central Bank, national central banks and various supervisory institutions. He holds an MBA in Economics and is fluent in German and English, with intermediate proficiency in French and Spanish. Stefan is married and has one daughter.
Matteo Gervasio, AUTO1 Global Services
Marc Wolf, BayernLB
Marc Wolf is Deputy Head of Securitisation at BayernLB in London and responsible for ABS and international Corporate receivables securitisations. Marc has more than 20 years of experience in origination and structuring asset-backed financing solutions with a special focus on trade-, auto-, consumer- and lease receivables. Prior to joining BayernLB in 2018, he held similar positions at Crédit Agricole CIB, J.P. Morgan and BNP Paribas in London. He started his career at Dresdner Kleinwort Wasserstein in Frankfurt and holds a degree in business administration from the University of Cologne, Germany.
15:30 - 16:00
20th Anniversary Break
16:00 - 17:00
Asset Classes
Englisch
Auto ABS – Residual Value Risk, EV Transition and Performance Outlook
Moderation
Tom Oelrich, DZ BANK
Tom Oelrich has been working for DZ BANK AG in Frankfurt am Main in the securitisation department since 2003. As a senior structurer, he has been advising DZ BANK’s clients in all aspects relating to term-ABS capital market transactions since 2015 with a focus on auto-ABS, consumer and SME loans as well as leasing transactions. Previously, Mr. Oelrich arranged ABCP transactions for corporate clients of DZ BANK.
Since entering into the securitisation business, he has structured a large number of customer transactions and has successfully accompanied numerous transactions as placement agent and swap counterparty. Mr. Oelrich has graduated from Frankfurt School of Finance & Management and holds a degree in Business Administration.
Participants
Michael Evers, Openbank Germany
Michael Evers has been a member of the ABS team at Openbank Deutschland AG (OBD, formerly Santander Consumer Bank AG) in Mönchengladbach since the end of 2019. His work focuses on the structuring and execution of transactions for the capital and liquidity management of OBD as well as its subsidiaries and joint ventures. Prior to this role, he spent eight years in various positions, including several years at Volkswagen Financial Services AG, focusing on regulatory matters. During this time, he specialized in the implementation and interpretation of CRR requirements. Michael holds a B.A. in European Business Administration from Euro-FH Hamburg and an M.A. in Business Administration from Ostfalia University of Applied Sciences in Braunschweig.
Lars Fischer, Volkswagen Bank
Lars Fischer started his career at Volkswagen Financial Services AG in 2008 and joined the Securitization Team in 2012. During this time he worked on the securitization of auto leases, auto loans as well as truck and bus assets in various countries worldwide. After working for Volkswagen Financial Services UK as Lead Structured Finance Analyst, he took over responsibility for Volkswagen Financial Services’ structured finance activities as Head of Asset Backed Securities in July 2024.
Guglielmo Panizza, Morningstar DBRS
Guglielmo Panizza is a Senior Vice President at Morningstar DBRS, where leads the analytical team for the assignment of new ratings to European ABS transactions backed by auto loans and auto leases. Guglielmo has worked in the mobility and automotive finance industry for several years, covering various roles in Europe within credit and securitization at FCA Bank. Guglielmo started his career at BNP Paribas Corporate & Investment Banking working in the Global Markets division. He holds a Master of Science in Economics and Social Sciences from Bocconi University and he is a CFA Charterholder.
Eberhard Hackel, Fitch Ratings Ltd.
Eberhard Hackel is a Managing Director in Fitch Ratings’ European Structured Finance group, where he leads the EMEA ABS team from Frankfurt. His team is responsible for rating asset-backed securities (ABS) supported by a diverse range of assets, including auto loans, equipment or auto leases, unsecured consumer loans, and credit card receivables. Additionally, they handle asset-backed commercial paper (ABCP) and emerging market transactions backed by various assets.
Prior to joining Fitch in 2008, Eberhard worked in the risk controlling department at Landesbank Hessen-Thüringen (Helaba). There, he was responsible for measuring the market risk of the Helaba group and collaborating with German regulators on the supervision of Helaba’s internal market risk model.
Eberhard holds a diploma in Business Administration from the University of Göttingen and has earned the Financial Risk Manager (FRM) certification from the Global Association of Risk Professionals.
Regulatory Special
Englisch
Capital Management & Competitiveness of European Banks
Moderation
PWC
Participants
Dr. Julian Fischer, Hogan Lovells Cadwalader
Dr Julian Fischer is a partner in Hogan Lovells Cadwalader’s Frankfurt office and a member of the firm’s International Debt Capital Markets practice. He advises banks and financial institutions on synthetic and traditional securitisations, including significant risk transfer transactions, structured finance transactions and portfolio-based financing solutions across a broad range of asset classes. His work includes transactions aimed at regulatory capital optimisation, credit-risk transfer and strategic balance-sheet management, as well as advice on the related CRR requirements.
Through his ongoing work with banks, insurers and other protection providers, Julian is closely involved in market discussions on the evolving European framework for securitisations and significant risk transfer. This includes the proposed amendments to the CRR and the EU Securitisation Regulation as they progress through the legislative (Trilogue) process, as well as the implications of the recently adopted Solvency II reforms for insurer participation in securitisations and unfunded credit protection.
In addition, he has extensive experience in loan and derivatives portfolio transactions, non-performing loan financings and complex restructuring situations in the regulated financial sector. He is recognised for his expertise at the intersection of structured finance, capital markets and financial regulatory law.
Benedikt Mankel, Deutsche Bundesbank
Benedikt Mankel is an expert on regulatory policy issues relating to securitisations at the Deutsche Bundesbank. The studied mathematician represents the Bundesbank in various European and national working groups and actively contributes to the interpretation and development of the legal framework. His professional experience includes one year at the European Central Bank, during which he was instrumental in establishing the SSM hub on securitisation.
ESG & Regulation
Englisch
ESG, Omnibuses, and their Impact on Securitisation
Participants
Christoph Plattenteich, SEB
Christoph Plattenteich is Co-Head of Debt Capital Markets & Head of ABS, DACH at SEB in Frankfurt. He has more than 30 years of experience in banking and held various management roles at European financial institutions. Through all the years his main focus has been the capital markets an structured finance business. Christoph has extensive experience in structuring capital market transactions with a special focus on the securitization of trade-, loan- and lease-receivables.
He holds a degree in economics from the Westfälische Wilhelms-Universität Münster.
Speakers
Andrea Flunker, Deloitte
Andrea Flunker has more than 17 years of experience in the field of Structured Finance and Securitisation services in Germany and the UK. She leads regulatory and accounting advisory projects for originators, investors and sponsors in various synthetic and true sale transactions. Her other focus is on sustainability reporting. In particular, she leads consulting projects on the implementation of the Corporate Sustainability Reporting Directive (CSRD) and the Sustainable Finance Disclosure Regulation (SFDR). In addition, she is responsible for assurance services on sustainability reportings or non-financial statements and post-allocation reports in connection with green bond issuances. Furthermore, she leads the Europe-wide Deloitte working group on the implementation of Art. 8 Taxonomy Regulation for banks, insurance companies and asset managers.
Asset Classes
Data Centers as Driver for AI – Financing between Securitisation, Real Estate and Project Finance
Moderation
Thorsten Klotz, Moody´s
Thorsten Klotz is a Managing Director in the Moody’s Ratings EMEA Structured Finance Group and oversees the new ratings activities for Corporate Asset Securitization in the EMEA region. Analytical coverage includes a wide range of asset classes such as Collateralized Loan Obligations (CLOs), balance sheet CLOs, granular SME loan & lease securitizations, Asset-Backed Commercial Paper (ABCP) and Commercial real-estate backed securitizations (CMBS).
Prior to his appointment to Managing Director in 2008, Thorsten was a lead analyst in the Moody’s EMEA Structured Finance Group and worked on various transaction types, including CDOs of ABS, Leveraged Loan CLOs and German SME loan securitisations.
Before joining Moody’s in 2002, Thorsten was a Senior Derivatives Structurer at CDC IXIS Capital Markets where he was responsible for the development and pricing of interest rate and inflation linked structures. Prior to this role, he was working as a trader for fixed income derivatives and equity linked structures at DZ BANK (former DG BANK).
Thorsten holds a master degree in managerial economics (University of Passau) with main options in insurance & risk theory, finance and statistics.
Participants
Doug Paterson, S&P Global Ratings
Antonia Walter, Clifford Chance
Antonia Walter is a Counsel in Clifford Chance's Structured Finance practice in Frankfurt. She advises banks, financial institutions and investors on a broad range of German and cross-border structured finance transactions. Her experience includes securitisations, synthetic significant risk transfer (SRT) transactions, portfolio sales and receivables financings across various asset classes. Antonia has advised on a number of innovative and market-leading transactions, including data centre securitisations, residential solar and heat pump ABS transactions, the set-up of a German law master trust structure in relation to a portfolio of revolving credit card receivables and complex risk transfer structures for leading European financial institutions.
Ralf Raebel, DZ BANK
Nach der Ausbildung zum Bankkaufmann und dem Studium der Betriebswirtschaftslehre stieg Ralf Raebel 1996 bei der DG BANK AG, Frankfurt a.M., als Trainee Investment Banking ein. Bis 2002 arbeitete er als Finanzanalyst im Bereich Equity Capital Markets und war dort eingebunden in die Akquisition und Durchführung von IPO-Mandaten. Nach mehreren Jahren im Bereich Corporate Finance/Technology wechselte er 2006 ins ABS Research, dessen Leitung er in 2011 übernahm. Herr Raebel verfügt über eine langjährige Kapitalmarktexpertise sowohl auf der Eigenkapital- als auch auf der Fremdkapitalseite. Er ist u.a. Verfasser verschiedenster Publikationen zu verbriefungsrelevanten Themen. Ein weiterer Schwerpunkt seiner Tätigkeit ist die Durchführung von Wertpapier- und Portfolioanalysen sowie die Beratung institutioneller Kunden bei der Anlage in ABS und alternativen bzw. hybriden Finanzinstrumenten.
17:00 - 17:30
Coffee break
17:30 - 18:30
Regulation
Englisch
Securitisation Regulation – Getting It Right This Time?
Moderation
Dr. Oliver Kronat, Clifford Chance
Dr Oliver Kronat is Partner in the Frankfurt office of Clifford Chance. Oliver Kronat specialises in advising on German and international structured finance transactions. His experience includes the securitisation of trade, consumer, leasing and loan receivables and the establishment of ABCP Conduit Programmes. He also advises on the restructuring of securitisation and other structured finance transactions as well as on securitisations by insolvent companies.
He is a member of the TSI Securitisation Forum (Verbriefungsforum) and was involved in the commenting by TSI on significant draft bills
(including the Risk Limitation Act
(Risikobegrenzungsgesetz), the Debenture Act (Schuldverschreibungsgesetz) and the implementation of CRD II and III) into German law. Oliver Kronat is also admitted as tax advisor.
Participants
Jan-Peter Hülbert, TSI
Jan-Peter Hülbert has been Managing Director of True Sale International GmbH since July 2018. He brings over 20 years of experience in the banking and capital markets business, including 16 years in securitisation on the banking side. Jan-Peter has been responsible for client transactions for banks, corporates and leasing companies in the public ABS, private securitisation and ABCP segments. He holds a degree in business administration from LMU Munich and is a member of the Supervisory Board of STS Verification International GmbH and of the Supervisory Board of European DataWarehouse GmbH.
Dr. Burkhard Rinne, Linklaters
Dr Burkhard Rinne specialises in structured finance transactions (including securitisations, structured covered bonds, asset-based finance and other secured financings). He further advises on the clearing through central counterparties, on the settlement of securities, the pooling of cover assets as well as on regulatory capital relief structures for banks. He holds special expertise in transactions involving the use of the German refinancing register. Burkhard frequently advises banks and protection providers on guarantees issued for regulatory capital relief purposes, including in the form of synthetic securitisations.
He is listed as one of the "Leading Partners" in Legal 500 Germany 2025 in the area of structured finance and securitisation and Chambers Germany 2025 ranks him as one of the recommended lawyers for structured finance in Germany. He is also recommended by Handelsblatt/Best Lawyers® 2025 in the category "Best Lawyers" in the field of banking and finance law.
Alexandre Linden, BNP Paribas
Alexandre Linden has over 25 years of experience in the European credit markets. Alexandre is a managing director at BNP Paribas, co-heading the Securitisation Portfolio Management team in the Securitisation Products Group. Prior to joining BNP Paribas, Alexandre worked as a senior director at Fitch Ratings in CLOs and Covered Bonds and as a corporate credit risk manager at BNP Paribas and Barclays Capital. Alexandre is a graduate of Ecole Supérieure des Sciences Economiques et Commerciales (ESSEC) and is a CFA charterholder.
Geopolitics
Englisch
Defense, Security and Cyber Risks - Challenges in Financing Resilience
Moderation
Sven Haase, CSC
Sven Haase serves as Senior Director of Business Origination, Capital Markets at CSC, where he leads strategic initiatives with a focus on European transactions. Based in London, he plays a pivotal role in expanding CSC’s footprint across the region’s financial hubs.
Sven joined CSC in 2024, following three years in a similar leadership capacity. His financial career spans more than two decades, beginning at Deutsche Bank in 2000. During his 20+ years career, he held a series of senior positions across Equity as well as the Agency & Trust space, consistently driving innovation and delivering excellence in client service within global capital markets.
He holds a Master’s degree from EBS European Business School in Germany. Fluent in German, English, French and Spanish, Sven brings strong cultural fluency to complex international mandates.
Participants
Dr. Philipp Wackerbeck, PwC Strategy&
Dr. Philipp Wackerbeck is an advisor to executives in the financial sector for Strategy&, PwC’s strategy consulting business. He is a Partner at Strategy& Germany and based in the Munich office. As the Global Head of Financial Services for Strategy& and PwC’s EMEA Banking & Capital Markets Leader, he regularly advises clients on important strategic projects like growth and market entry strategies, reorganizations, large-scale transformations and particularly in deals related projects including M&A, carve outs and debt and equity transactions. Additionally, he has in-depth knowledge in the risk, capital and regulations space.
In addition to his functional expertise, Philipp has extensive knowledge in corporate and investment banking, particularly asset-based finance. He has supported banks, asset managers as well as insurance companies tackling their most important strategic and transformational challenges. An avid writer, he has contributed to books, and articles including several Strategy& reports. He has successfully led multiple high-profile client engagements in diverse settings in Europe, North America and Asia.
Sebastian Oebels advises national and international companies on German and international structured finance transactions. He has a strong focus on traditional securitisations, significant risk transfer securitisations and other types of asset-based lending structures. In particular, Sebastian has extensive experience in advising banks, issuers and originators on securitisations backed by auto loans/leases, renewable energy (solar and heat pump systems) and digital infrastructure-related assets.
Participants
Roberto Amato, S&P Global
Roberto Amato is an Associate Director in Structured Finance, EMEA, based in Frankfurt.
He is the Lead Analyst for the German ABS market. Since joining S&P Global Ratings in 2019, he has been involved in transactions covering a variety of asset classes, including Residential Mortgage-Backed Securities, secured and unsecured ABS and Commercial Paper. Roberto has 10 years of experience in Structured Finance and his past employers include the European DataWarehouse and the Hessische Landesbank. Roberto holds a BSc in Economics from the University of Bergamo, Italy and a MSc in International Economics from the University Tübingen, Germany.
Erik Welin, EIB
WORK EXPERIENCE
Loan Officer 2017 –
Erik Welin is a Loan Officer at the European Investment Bank (EIB). Erik focuses on transactions in Central, Eastern and Northern Europe and has been involved in several innovative green transactions such the first European Solar ABS with Enpal and the first Green SRT in Norway with DNB. By using securitisation transactions as a tool to provide either capital relief and/or funding, the EIB supports new financing in line with its Public Policy Goals such as Environmental, Climate and Social investments.
Some noteworthy transactions:
Enpal, Germany – First European Solar ABS
DNB, Norway – First Green SRT in Norway
LBBW, Germany – Landmark green SRT for Renewable Energy
Hypo Vorarlberg, Austria - Green SRT for Energy Efficiency mortgages
PKO Leasing, Poland – Largest Polish true sale ABS
Capital Markets Officer 2009 – 2017
Raising EIB funding by issuance of EIB AAA-rated bonds in the capital markets. Focused on the markets in the Nordics, Asia, Americas and Pacific. Issued both private placements and benchmark bonds.
Prior to the EIB
Pricing Analyst at State Street Bank 2006 – 2009
Pricing of OTC Derivatives (IRS, CDS, options etc) in the fund industry.
Research Analyst at Institutional Shareholder Services 2006 – 2006
Corporate governance rating of German, Swiss, Austrian and Scandinavian companies
Trainee at the European Parliament 2005 – 2005
Committee on the internal market and consumer protection.
EDUCATION
MBA, Business/Finance - Sacred Heart University 2008 – 2010
LLM, Law and Economic – Manchester and Hamburg 2004 – 2005
MSc, Economics and Political Science – Linköping 2000 – 2005
Erasmus exchange studies – Freiburg im Breisgau 2002 – 2003
Chartered Financial Analyst (CFA) 2013 –
Gregor Burkart, Enpal B.V.
Gregor is running the refinancing division at Enpal, which he has built over the last 6 years at the firm. With over €5bn in capital commitments and a €2.5bn asset portfolio under management, he has shaped and overseen the establishment of a new asset class of residential solar and heating in Europe through embedded and captive financing solutions. Previously, Gregor held a leading role at BlackRock, advising financial institutions on their capital allocation. Gregor is a CFA charterholder, holds a BSc of Business Administration from WHU – Otto Beisheim School of Management and a Minor in Law from Bucerius Law School.
Jason Goldstein, CFA, thermondo GmbH
Jason Goldstein joined thermondo in 2022 with a focus on raising debt capital. Since November 2023, he also assumed responsibility for the Thermondo Group's treasury function.
Prior to joining thermondo, Jason was a Principal at torq.partners based in Amsterdam. Prior to torq.partners, Jason spent 7 years in Thailand where he worked on local and cross-border M&A transactions in investment banking and corporate finance advisory capacities.
Jason studied finance and accounting at the University of Cape Town and is a CFA Charterholder.
Market Trends
Englisch
Double Pledging & Fraud: Impact of Recent Discussions on the German Market
Participants
Philipp von Websky, Deloitte
Philipp von Websky has been with Deloitte since 2001. Together with his team he has full focus on securitisations, covering all asset classes and various jurisdictions and having a particular emphasis on portfolio services (Pool Work, Asset Audits, Prospectus Work, Verification Agent).
Oleg Mänz, QuantFS
Oleg Maenz is an IT, banking, and management expert specialized in securitization and structured finance. His areas of expertise include asset-backed securities (ABS) reporting, product development, process optimization, risk modeling, and regulatory reporting. He has played various roles in implementing and reporting more than 70 securitization transactions, totaling over 8 billion euros. As a business angel and junior investor, he has actively shaped the securitization market for many years.
Christian Reinisch, SEB
Basak Aktay, European DataWarehouse
Basak is European DataWarehouse's (EDW’s) Head of Sales and Customer Relations. Prior to joining EDW in 2013, she worked at DZ Bank as a product manager with a focus on German capital markets. In addition to her current role at EDW, Basak also teaches at the Frankfurt School of Finance & Management. She has also held various management roles in technology and ecommerce departments at Commerzbank and Isnet and has an MBA from Manchester Business School as well as a MSc degree in Computer Engineering from Universität Duisburg-Essen.
Arnab Naskar, STOKR
Arnab Naskar is Co-Founder and Business Lead at STOKR, a regulated platform enabling the tokenization of real-world financial assets. A lawyer by training, he leads STOKR’s business strategy and strategic partnerships with financial institutions and capital-markets participants. Active in the blockchain industry since 2017, Arnab has also contributed to policy initiatives shaping digital asset regulation in Europe.
Supporting Programme
18:30 - 19:30
Conference Foyer Marketplace
Networking Reception
20:00 - 21:30
Groundfloor
Weinabend
Youngsters & Friends
Englisch
Rethinking Retirement: The Future of Private Pensions in Germany
Moderation
Nelleke van der Lei, Deutsche Bank
Nelleke van der Lei is a Sales Specialist within Deutsche Bank's Trust & Securities Services (TSS) business in Frankfurt. She advises corporates, financial institutions and law firms on escrow, agency and trust solutions for a broad range of domestic and cross-border transactions. Prior to joining TSS, Nelleke worked in Deutsche Bank's Strategic Corporate Lending division, where she structured and serviced Significant Risk Transfer (SRT) transactions, and in the Securitisation Reporting team. Nelleke holds a Master's degree in International Economics and Business from Utrecht University and is a Certified Financial Risk Manager (FRM).
Participants
Jan Schildbach, Deutsche Bank
Jan Schildbach is Director and Head of Banks, Financial Markets and Regulation at Deutsche Bank Research in Frankfurt. He joined Deutsche Bank in 2007. Jan has published extensively on the banking sector, trends in corporate finance, capital markets and regulatory developments. In addition to his external publications, he advises the Management Board, the bank's business divisions and clients, and has represented Deutsche Bank on the Steering Committee of the European Banking Congress since 2022. In 2022 and 2023, Jan Schildbach served as a lecturer in Commercial Banking at Frankfurt University of Applied Sciences. He studied Economics at the Universities of Mannheim and Bayreuth, as well as at the Helsinki School of Economics.
Tobias Spreiter, flatexDEGIRO Bank AG
As Executive Director and Head of Product & Business Development at flatexDEGIRO, Tobias Spreiter is responsible for developing new growth areas and innovative offerings for retail investors. For more than ten years, he has been involved in the transformation of the securities business towards digital, technology-driven business models. A trained banking professional, he studied Business Administration and holds an MBA. Before joining flatexDEGIRO, Tobias Spreiter held various positions in the financial services industry, where he played a key role in building and further developing digital business models in securities trading. He regularly provides insights into market and industry trends. His key areas of expertise include digitalisation and innovation in the securities business, as well as the impact of technological developments on investor behaviour.
21:30 - 02:00
DomLounge
Chill-Out & Get-Together
08:00 - 10:00
Registration
08:15 - 09:15
DomLounge
Deutsch
WirtschaftsFrühstück
Moderation
Dr. Martin Kaiser, Ashurst Perkins Coie
Dr Martin Kaiser, LL.M. is a partner in the finance department and heads the European securitisation team. He specializes in securitisations and focuses on the true sale securitisation of loan, lease and trade receivables, both listed public transactions as well as ABCP programs and bespoke private transactions, e.g. NPLs and start-up and FinTech finance. His expertise also includes aspects of German and European regulatory law related to securitisations. Martin Kaiser advises leading German and international banks, service providers (such as corporate service providers and trustees), leasing companies, car manufacturers and other corporates.
SpecialGuest
Linda Teuteberg, FDP
09:30 - 10:30
Corporate Special
Deutsch
Der Deutsche Mittelstand - Finanzierungsmodelle für die Zukunft
Moderation
Dr. habil. Christian Fahrholz, TSI
Christian Fahrholz is Director at True Sale International GmbH since November 2021. Prior to that, since April 2016, he was Head of Division at the Association of German Chambers of Industry and Commerce (DIHK), where he was responsible for the impact of financial market regulation and monetary policy on corporate financing. Until leaving the DIHK in October 2021, he was a member of the Executive Board at the Verband Deutscher Bürgschaftsbanken e. V. (VDB).
Prior to joining DIHK, he was a visiting scholar at the Central Bank of Estonia (Eesti Pank) and worked as a freelance consultant for public and private clients in Egypt, South Africa and the United States. Earlier appointments included a visiting professorship at the Chair of Macroeconomics, in particular monetary theory, at the University of Erfurt.
Participants
Dr. Armgard Wippler, Bundesministerium für Wirtschaft und Energie
Dr. Armgard Maria Wippler serves as Head of Division at the Federal Ministry for Economic Affairs and Energy (BMWE), where she is responsible for SME and Start-up-Financing as well as the Kreditanstalt für Wiederaufbau (KfW). In this capacity, she oversees a wide range of federal financing and equity instruments and contributes to shaping Germany's policy framework for entrepreneurship and start-ups.
Previously, Dr. Wippler spent nine years leading the division responsible for SME policy and internal market affairs in the service sector. Since the outset of the pandemic, her portfolio has also included the design, implementation, administration, and final settlement of eleven COVID-19 grant programs totaling 76 billion euros. During the last economic and financial crisis, Dr. Wippler was already entrusted with financing matters. At that time, she led the division responsible for managing the issuance of large-scale guarantees. Dr. Wippler also served six years as Head of Office for the German Federal Commissioner of SME Policy at the Ministry while supporting the work of two Parliamentary State Secretaries in this position. Prior to this she worked for one year in the German Mission at the United Nations in New York City. Dr. Wippler began her ministerial career in 1999 in the field of SME Policy.
Her PhD dissertation, completed at the Chair of Finance and Investment at Düsseldorf University, focused on innovative start-up companies in Germany and the U.S.
Matthias Wargers, Ascory Bank
Matthias Wargers has been a member of the Management Board of Ascory Bank and also its spokesman since March 2025. He is responsible for the Market division and thus for the core business areas of Corporate Clients/ Fintech, Energy Transition and Leveraged Finance. In addition, his responsibilities include the monitoring and management of the bank's internal treasury department. Today, Mr. Wargers serves as spokesperson for the Executive Board of Ascory Bank. In this role, he is responsible for the Market division, including the bank’s core business activities and the internal Treasury function. He also has responsibility for the Internal Audit department.
Huy Nguyen, Teylor AG
Huy Nguyen ist CFO & Head of Private Debt des Schweizer Fintechs Teylor, das die führende KMU-Kreditplattform Deutschlands betreibt. Dort verantwortet er Teylor Capital, den Private-Debt-Investment-Arm des Unternehmens. Vorher war er in verschiedenen Rollen in der Finanzindustrie tätig, zuletzt im Leveraged-Finance- und Structured-Finance-Team der Deutschen Bank in Frankfurt.
Sabrina Kensy, COMMERZBANK
Manfred Schultheis, VIBRA
Transparency Special
Englisch
Disclosure, Data and Proportionality – Is the Burden Still Justified? & Data Quality Award
Moderation
Dr. Christian Thun, European DataWarehouse
Dr. Christian Thun joined European DataWarehouse GmbH in 2016 as Chief Operating Officer and one year later, was appointed as CEO. Dr Thun worked previously at Moody’s Analytics for 14 years in various senior positions, most recently as senior director with inter alia responsibility for the DACH region. In the early stage of his career, Mr. Thun was a team leader at the risk consulting firm Baetge & Partner (an OliverWyman affiliate) and also worked in structured finance for Dresdner Bank in Frankfurt and London. Christian Thun has published more than 50 articles on topics such as securitisation, risk modelling, stress testing, and data management. He studied business administration and earned his Ph.D. in artificial intelligence at the University of Münster.
Market Trends
Englisch
Fund Finance & NAV Structures – Spillover into the Securitisation Markets?
Participants
Maria Divid, Scope Ratings
“Maria Divid is a structured finance professional with broad experience in securitisation credit risk, structuring, and investment. She is currently a Senior Director in the Structured Finance Primary Ratings group at Scope Ratings, where she leads analytical work on structured finance transactions with a focus on fund finance, including subscription line facilities, and contributes to rating committees, research, and methodology development.
Before joining Scope, Maria worked at Legal & General and Phoenix Group, focusing on sourcing, structuring, and executing Matching Adjustment eligible transactions backed by equity release mortgages. Earlier, she spent over a decade as a structured finance analyst at Moody’s Investors Service, acting as lead analyst on RMBS, ABS, and CMBS transactions.
Maria holds an International Master’s degree in Economics, Finance and Management from Humboldt University Berlin and the Higher School of Economics in Moscow, and a B.A. in Quantitative Economics with honours. She is also a CFA charterholder.”
Dr. Timo Patrick Bernau, GSK STOCKMANN
Dr Timo Patrick Bernau is a partner at our Munich office and heads our Banking and Finance division. He has extensive expertise in advising banks, financial service providers, fintechs, insurance companies and insurtechs, with a particular focus on regulatory issues, investment products and capital market compliance.
In addition, he provides comprehensive guidance on alternative investments, restructuring and structured financing. Timo has extensive knowledge of current banking and finance issues, including AIFMD II and ELTIFs, MiCAR, DORA, the AI Act, tokenisation and stable coins, securitisation and alternative assets as well as FiDA. He is frequently featured in high-profile industry rankings and regularly publishes on banking and finance topics.
Christoph Schwarz, OCORIAN (UK) LIMITED
Christoph (Schwarz) arbeitet seit über 25 Jahren im Finanzwesen. Nach dem 2. Staatsexamen begann er seinen Werdegang bei der Württemberger Hypo in Stuttgart. Im Jahr 2005 zog er nach London, wo er für Banken, Versicherungen und Beratungsfirmen im Verbriefungsbereich tätig war, darunter Lehman Brothers, HSH Nordbank, Genworth und StormHarbour.
Seit 2018 ist er im Corporate Trust / Service Bereich tätig, zuerst für BNY und nun für Ocorian Nordic Trustee, wo er seine Kunden beim Aufsetzen und Verwalten von Verbriefungsstrukturen unterstützt.
Asset Classes
CLOs – further Growth in turbulent Markets?
Participants
Alexander Lanin, Infinigion
Christopher Schumann, DZ BANK
10:30 - 11:00
Coffee break
11:00 - 12:00
Market Trends
Englisch
Synthetic SRT – From Niche Instrument to Core Capital Tool
Moderation
Michael Osswald, SVI
Michael Osswald is the Managing Director of STS Verification International GmbH (“SVI”), a third party verifier performing verifications of ABCP, term ABS and synthetic securitisations for compliance with the “Simple, Transparent, Standardised” (STS) criteria under the European securitisation regulation. He joined SVI in February 2019 and oversees all verification and related corporate activities of SVI across Europe. Michael has extensive securitisation experience both as investor and in the origination and structuring of term ABS, ABCP and synthetic transactions, which he gained from 1998 at Landesbank Baden-Württemberg in Stuttgart and London and subsequently at ABN AMRO Bank in Frankfurt as part of the European ABS team. In 2009, he moved to the transportation finance division of KfW IPEX-Bank and was, prior to joining SVI, Senior Credit Officer at Erste Abwicklungsanstalt in Düsseldorf, where he was responsible for the asset securitisation, infrastructure, aviation and shipping sub-portfolios. Michael holds a degree in business administration from Julius Maximilian University of Würzburg.
Participants
Moritz Küsel, QuantFS
Moritz Küsel has been Managing Director at QuantFS GmbH since September 2024, bringing with him over 10 years' experience in optimising the working capital of international companies through innovative financing structures. In his current position, he develops client-focused solutions for the securitisation of receivables using ABS, as well as synthetic structures for banking partners.
Ingrid York, White & Case
Ingrid practices in the Firm's Capital Markets group in London. She is co-Global Head of White & Case's Financial Institutions Industry Group, as well as the head of the Firm's Global Derivatives Group. Qualified in New York; England and Wales; and New South Wales in Australia, Ingrid supports various sovereign and quasi-sovereign entities and other international clients, including major financial institutions and banks and corporations. Ingrid delivers capital solutions through structured credit with extensive experience in complex transactions. Ingrid's expertise spans a broad range of products, including asset-based financings, sub-participations or synthetic risk participations and derivative products. This includes OTC and structured derivatives, credit linked notes, repackagings, project, leveraged and Islamic finance hedging, strategic equity solutions, transactions for regulatory capital purposes, and the restructuring of such arrangements. Ingrid also regularly advises clients on carbon credit trading and energy transition matters.
Arne Reichel, Aareal Bank
Arne Reichel serves as the Head of Asset Liability Management for Aareal Bank, having joined the bank’s treasury department in 2020. In his current function, his responsibilities include, among others, the bank’s SRT programme and structured finance initiatives. Before moving to Aareal Bank, Arne held positions at UBS and PwC in regulatory advisory and transaction services, respectively. He obtained an undergraduate degree from Goethe University Frankfurt and a master’s degree from Stockholm University.
Frank Benhamou, Cheyne Capital Management
Frank is the Portfolio Manager for Cheyne Capital's Risk Transfer strategy, focusing on transaction origination and assessment, portfolio construction, and capital raising. He plays an active role in SRT regulatory advocacy, maintaining regular dialogue with key regulators—including the PRA, EBA, and the Federal Reserve—and coordinating with all major industry groups.
Prior to joining Cheyne, Frank served as Managing Director and head of Capital and Structured Funding Solutions at Barclays International which he joined in 2006. At Barclays, he led multiple teams across a broad range of securitisation activities, including ABF, non-performing loan (NPL) transactions, and commercial real estate (CRE) securitisations. Notably, under his leadership, Barclays established the Colonnade SRT programme, which became an industry-leading issuance platform. Throughout his career, Frank has advised numerous banks on designing and executing efficient SRT and securitisation solutions.
Frank holds a Master Degree from Ecole Centrale, with a year of specialisation in both Applied Mathematics for Finance and Entrepreneurship, and a postgraduate degree from La Sorbonne University in Financial and Economical Mathematics.
Ph. D. Jonas Bäcklund, Revel Partners
Jonas Bäcklund is CEO and co-founder of Revel Partners, a Stockholm-based structured finance advisory firm specialising in Significant Risk Transfer transactions and asset-backed finance.
With over 25 years of experience in structured credit, Jonas has worked across the full lifecycle of SRT — from originator strategy and regulatory engagement through to structuring, investor distribution and post-closing management. He was instrumental in establishing Nordea's SRT programme, one of the most active in the Nordic region, and has since advised banks and non-bank lenders across Sweden, Norway, Denmark and the Baltic states on capital relief transactions spanning consumer loans, mortgages, BNPL, SME, NPL, and CRE portfolios.
Revel Partners has structured more than 20 SRT transactions across four Nordic jurisdictions, working with first-time issuers as well as established programmes. The firm is shortlisted for European Arranger of the Year at the SCI Risk Sharing Awards 2026, having been nominated and received an honorable mentioning for the same award in 2025.
Jonas holds an MSc and Ph.D. from Uppsala University and was a visiting scholar at the Wharton School. He is a regular speaker at SCI, PCS and other leading structured finance forums, and leads the Balance Sheet Optimisation module at SCI's annual SRT Training for New Market Entrants.
Asset Classes
Leasing & Equipment Finance – Stable Asset Class in Volatile Times?
Moderation
Dr. Martin M. Geiger, HENGELER MUELLER
Dr Martin Geiger joined Hengeler Mueller in 1995 and became a partner in 2000.
He has a long-standing experience of advising banks, private equity funds and corporate clients on a broad range of complex transactions including structured financings, refinancing with commercial mortgage backed securities (CMBS), and real estate financings
His recent work includes the advice of a Swedish truck manufacturer on the secuiritisation of UK lease receivables, a German leasing company on the securitisation of French lease receivables and a German bank on the purchase of lease receivables in several European countries.
Martin Geiger studied law at the University of Munich and the University of Michigan Law School. He is regularly included in the most prestigious rankings on the German law firm market and described as a "Leading Advisor" in Structured Finance.
Participants
Guido Goldmann, BayernLB
Guido Goldmann is Head of Securitisation at BayernLB in Munich. BayernLB is one of Germany’s leading banks in the securitisation of trade, leasing, hire purchase and consumer receivables. The Bank is Germany’s leading refinancing partner of large and medium-sized leasing companies. Guido spend more than 15 years at BayernLB’s London office. He has a breadth of securitisation experience working on single jurisdiction and pan-European transactions. He also worked on various refinancing transactions for European companies. Guido holds an MBA from London Business School.
Jürgen Groth, LBBW
Jürgen Groth ist Director Securitization Loans & Leases im Bereich Corporate Finance Origination der LBBW in Stuttgart. Er ist als Strukturierer und Investor mit der Assetklasse zinstragender Forderungen seit Jahren vertraut.
Herr Groth absolvierte eine Banklehre und studierte BWL an den Universitäten Marburg und Poitiers (Frankreich). Er startete nach der Uni bei ABN AMRO Bank in Frankfurt und wechselte anschließend zu Dresdner Kleinwort Wasserstein. Seit 2002 arbeitet Herr Groth für die LBBW in Stuttgart und hat diverse Transaktionen erfolgreich umgesetzt.
André Weidemeier, PEAC Finance
André Weidemeier joined PEAC Solutions' treasury team in 2022 and is leading its securitization team. He is responsible for all securitization activities within the PEAC Central Europe group including its foreign subsidiaries.
Before joining PEAC Solutions André worked for Philips where he was responsible for rolling out a global asset-based funding infrastructure to facilitate Philips leasing and offloading activities.
André Weidemeier studied Mathematics and Economics and holds a diploma from the University of Hamburg.
Regulation & Technology
Englisch
Tokenisation in Securitisation – Underlying Assets, Value Chain and Digital Euro
Moderation
Dr. Nick Wittek, Jones Day
Dr Nick Wittek is Partner bei Jones Day. He has a unique skill set of combining structured finance, derivatives, and asset management experience with technological innovation. With 20 years of experience, he is a go-to adviser for financial institutions, asset managers, institutional clients and FinTechs to advise on the structuring, regulation, and documentation of structured finance transactions and the use of Distributed Ledger Technology (DLT) and Blockchain in this field and beyond.
He has extensive background working on securitizations (ABS and ABCPs), loan funds, Schuldschein loans, ISDA-based swaps and derivatives, repos, covered bonds, repackagings, MTN-programs, asset-based lending, factoring and supply chain financings, as well as related clearing, settlement and regulatory issues including issuances under the new German law on electronic securities (eWpG).
Nick is part of the Jones Day FinTech task force. He has advised market participants on the use, implementation and regulatory aspects of DLT and Blockchain in the financial and corporate industry sector including (utility and security) token issuances, stable coins and central bank digital currencies (CBDC), trokenization, crypto brokerage, crypto custody, digital assets and digital identities and implications resulting from the draft Markets in Capital Infrastructure Regulation (MiCAR). He has advised on a number of market first and award winning transactions.
Nick is recommended by JUVE for structured finance transactions and by Legal 500 and Chambers for FinTech work. Nick is part of the Platform Industry 4.0 legal working group and co-author of the Industrie 4.0 platform conditions. He has also (co-)authored several articles on securitizations, debt/loan funds and Blockchain.
Participants
Dr. Michael Huertas, PwC Deutschland
Dr Michael Huertas LL.M., MBA, is a Partner with PwC Legal. As the Global & European Financial Services Legal Leader for Europe, the German Practice Group Leader for Bank, Insurance and Investment Law as well as the Head of the Financial Institutions Regulatory Europe (FIRE) Team at PwC Legal he leads a group of multi-disciplinary, multijurisdictional qualified and multilingual professionals who help clients navigate and realise the opportunities in the EU-27 – and notably the eurozone’s regulatory, supervisory and monetary policy framework. Michael specifically advises on the eurozone's Banking Union, the European Central Bank’s monetary policy activity and the EU’s Capital Markets Union workstreams along with the regulatory and supervisory priorities of the European Supervisory Authorities. Michael is also a member of PwC Legal and PwC’s Capital Markets Leadership Team. His structured finance practice focuses on derivatives, securities financing transactions and securitisations.
Viktor Banh, DekaBank
Viktor Banh studied Business Administration at the University of Paderborn and has been with DekaBank since 2009. Within the Capital Markets division, he is responsible for digital asset transactions and supports savings banks, issuers, and investors in the implementation of digital capital market products.
Previously, he worked as Business Manager for the Capital Markets and Treasury divisions, where he gained extensive product and process expertise. Since 2018, he has been supporting DekaBank’s blockchain initiatives and their implementation in specific capital markets transactions – including, for example, Siemens €300 Mio. digital bond and Berlin Hyp’s first blockchain-based Pfandbrief.
Julie Dupont Nedellec, BNY
Julie Dupont Nedellec is a Director at BNY. As Structured Finance Solutions Lead for the UK and EMEA she is responsible for overseeing solutions for clients across the broader structured finance ecosystem in the region.
With 25 years experience structuring ABS and RMBS and delivering Corporate Trust services across structured finance capital markets and private markets, Julie Dupont Nedellec has held senior roles at major financial institutions including BNP Paribas, Lloyds Banking Group, Dresdner Kleinwort, and Nomura, developing deep expertise in the full lifecycle of financial markets debt issuances, from structuring and investments to operations and post-trade infrastructure. Prior to joining BNY she has been focusing on bridging the gap between private markets and fintech solutions, supporting fintech innovation, blockchain and AI solutions to enhance the entire private markets value chain.
Passionate about technology, innovation, and purposeful solutions, Julie holds several board advisory positions and serves as Treasurer on the Board of the London Capital Credit Union, reflecting her commitment to the social dimension of finance.
12:00 - 12:30
Coffee break
12:30 - 13:30
Closing Panel
Deutsch
Europas Finanzsektor - Architektur für die Zukunft
Moderation
Dr. Detlef Fechtner, Börsen-Zeitung
Detlef Fechtner studied politics, economics, history and European studies in Frankfurt and Brussels. After research stays in the USA (Cornell, Harvard), South Africa and Ukraine, he began his journalistic career with the news wire vwd (now Dow Jones Germany). Later, he worked as editor with Frankfurter Rundschau and WAZ media group before he moved to Börsen-Zeitung as Brussels correspondent. From 2021 until 2024, he has been editor-in-chief of Börsen-Zeitung. Today he is its head reporter.
Participants
Prof. Dr. Christoph Kaserer, TU München
Christoph Kaserer is co-director of the Center for Entrepreneurial and Financial Studies (CEFS) and Full Professor of Finance at Technische Universität München (TUM). His area of expertise is corporate finance, financial markets, and asset management. Christoph published his research in leading journals. He is also active as an associate of Oxera Consulting, London, as well as an advisor to private companies, public institutions and Governments. Christoph is frequently appointed as court witness expert in the capital market and valuation area. Since 2016 he serves on different working groups of ESMA. Before joining TUM School of Management, he became Full Professor of Financial Management and Accounting at Université de Fribourg, Switzerland, in 1999. Since January 2025 he serves as the Dean of TUM School of Management; he already held this position from 2005 to 2010. This school is regularly ranked among the top European management schools.
13:30 - 14:30
Lunch break
Supporting Programme
15:00 - 17:00
Session
Exclusive Spree River Cruise for the 20th TSI Congress
08:00 - 10:00
Registration
10:00 - 11:15
Opening Panel
Englisch
EU Capital Markets and Banking Regulation – Competitive at Global Scale?
Keynote
Dr. Bettina Orlopp, COMMERZBANK
Dr. Bettina Orlopp has been the CEO of Commerzbank AG since October 2024. She is responsible for Audit, Communications, Corporate M&A and Investments as well as Legal, Strategy, Transformation & Sustainability and Research. Previously, she served as the Deputy CEO and was responsible for the CFO area including Finance, Tax, Investor Relations and Treasury. In 2017, she became a member of the Commerzbank Board, heading the Legal, Compliance and Human Resources divisions. She joined Commerzbank in 2014 as Head of Group Development & Strategy. Dr. Bettina Orlopp began her professional career in 1995 as a management consultant at McKinsey & Company, where she was appointed Partner in 2002. She is married and has two children.
Moderation
Susanne Matern, Fitch Ratings Ltd.
Susanne Matern leads the ABS and RMBS sectors within Fitch's European Structured Finance Ratings Group, with teams in London, Frankfurt, Madrid, Milan and Paris. Susanne also oversees Structured Finance in APAC and retains responsibility for EMEA cross-sector topics and related inquiries. She is responsible for maintaining rigorous credit standards across her teams while fostering analytical excellence and delivering actionable market insight to investors and issuers. Susanne regularly engages with market participants and speaks at industry conferences.
Previously, Susanne led Fitch's EMEA Structured Finance team, covering ABS, ABCP, RMBS, CMBS and SC.
Earlier in her career, Susanne managed the Structured Finance Ratings Group in continental Europe and led Covered Bonds in German-speaking markets.
Participants
Souad Benkredda, DZ BANK
Souâd Benkredda joined the Board of Managing Directors of DZ BANK AG in September 2022, where she is responsible for Capital Markets: Institutional Clients, Trading and Retail Banking; Group-Treasury, Structured Finance. In addition, she is responsible for the foreign branches and representative offices. She was previously Global Head of Strategic Investor Group Sales at Standard Chartered Bank, responsible for servicing an institutional clients segment globally. She started her career in 2001 in the Global Markets division of Deutsche Bank and held various management positions in different markets over the course of 16 years in Frankfurt, Dubai and London. Born in Frankfurt, Souâd Benkredda studied Business Administration in Frankfurt am Main and Paris, graduating with a "Diplom-Betriebswirtin" (MBA) and a "Maîtrise en Sciences de Gestion".
Jayee Koffey, BNY
Jayee Koffey is Chief Global Affairs Officer at BNY and a member of the Executive Committee.
In this role, she leads BNY’s commercial enablement and go-to-market strategies and is responsible for shaping the firm’s positioning with clients and key stakeholders globally. Jayee chairs the BNY Institute and oversees marketing, sustainability and global affairs.
Jayee serves as Executive Sponsor for the Women’s Initiative Network and chairs the BNY Foundation. She is also on the board of the French-American Foundation.
Jayee previously held a number of senior roles at Goldman Sachs. Since joining BNY in 2022, she has drawn on extensive leadership experience in roles spanning risk, regulatory relations, ESG, finance, and international markets. Her earlier career includes private equity and investment banking. She holds an MBA from Harvard Business School and degrees from UC Berkeley and the University of Auckland. Jayee lives in New York City with her husband and three children.
Dr. Volker Treier, DIHK
Dr. Volker Treier is Chief Executive of Foreign Trade and Member of the Executive Board, responsible for International and European Economic Affairs, the network of bi-national German Chambers, Delegations and Representations of German Industry and Commerce (AHKs) in 93 countries worldwide.
11:15 - 12:00
Coffee break
12:00 - 13:00
Investor Kick-off
Englisch
Where are Public ABS Markets heading to?
Moderation
Heike Hoehl, ING Bank
Heike leads the ABS Syndicate team at ING. She brings over 30 years of experience in fixed income markets, including 15 years on the syndicate desk of Santander, specialising in funding and SRT ABS transactions. Her expertise spans the placement of public and private multi tranche and full capital stack ABS deals—both cash and synthetic—across multiple currencies, jurisdictions, and asset classes, including RMBS, Consumer Loans, Auto Finance, Credit Cards, SMEs, Large Corporates and Leveraged Loans.
Participants
Christian Aufsatz, Morningstar DBRS
Christian heads up the European Structured Finance and Covered Bonds ratings team at
Morningstar DBRS. He joined Morningstar DBRS in October 2015 and was previously the
head of the European ABS Research team at Barclays Bank where he covered the European
CMBS and SME CLO sectors, in addition to general European securitisation and regulatory
topics. Until September 2010 Christian was with Moody’s, where he headed up the EMEA
CMBS team. During his time with Moody’s, he was involved in the development and
implementation of rating methodologies for RMBS and for CMBS.
Christian graduated from Frankfurt School of Finance & Management, Frankfurt am Main,
Germany, in 2002. He is a CFA charterholder and Cert CRP.
Asset Classes
Deutsch
Trade Receivables & ABCP – Finanzierung der Realwirtschaft
Moderation
Sandra Wittinghofer, Baker McKenzie
Sandra Wittinghofer advises national and international banks and corporations in matters of finance and regulatory law. Her focus on structured finance and related banking regulatory matters covers work for arrangers, sponsors, originators, trustees and rating agencies. She has extensive experience in ABCP securitization transactions as well in term transactions, covering a wide range of asset classes. Since June 2019, she has been listed under "Best Lawyers" for Banking and Finance and Banking Regulatory law by Handelsblatt and is also ranked in Chambers Europe 2023 for Capital Markets - Structured Finance.
Participants
Dr. Sahra Demirbilek, Ashurst Perkins Coie
Dr Sahra Demirbilek is a counsel in our finance practice and a member of our global markets group.
Sahra is a securitisation specialist focusing on advising banks and companies, particularly in relation to true sale transactions in respect of various asset classes, including auto loans, leases, consumer finance, NPL and trade receivables.
Sascha Chevalier, LBBW
Sascha Chevalier ist Head of Origination im Segment Securitization Trade Receivables der LBBW und berät seit nahezu 25 Jahren große Mittelständler und Konzerne bei komplexen Fragestellungen rund um das Thema Working Capital Management.
Constanze Schmidt, Maples Group
Constanze heads our Client Accounting and Structured Finance teams in Luxembourg, specialising in providing accounting (Lux GAAP and IFRS), administration and regulatory reporting services for Luxembourg structured finance vehicles and holding companies. Constanze joined the Maples Group in 2014. She previously worked with KPMG Luxembourg, PWC Luxembourg and Volksbank Gardelegen in Germany.
Nicolas Kipp, Credibur Gmbh
Nicolas Kipp is founder and CEO of Credibur, a Berlin-based fintech founded in 2024 that automates the management of credit facilities between non-bank lenders and institutional capital providers. Credibur replaces fragile, Excel-based processes with modular, AI-first infrastructure: the Calculation Agent handles borrowing base calculations and covenant monitoring, the Cash Manager oversees capital calls and payment flows, and the Backup Servicer safeguards the portfolio's servicing continuity. Previously, Nicolas co-founded Banxware and served as CRO at Ratepay.
Sebastian Böhm, DZ BANK
Sebastian Böhm has been working as a Structurer at DZ BANK AG since 2025. In this role, he is responsible for the origination and execution of securitisation transactions, with a particular focus on the securitisation of trade receivables for DZ BANK’s corporate clients. Prior to joining DZ BANK, he worked as a Structurer at a cooperative financial institution, where he supported transactions for the refinancing of factoring and leasing receivables. He holds a Master of Science with a focus on Banking & Finance.
Regulation
Englisch
Luxembourg Securitisation Hub – Trends
Moderation
Andreas Heinzmann, GSK STOCKMANN
Andreas Heinzmann is a partner within the capital markets and banking group in the Luxembourg office of GSK Stockmann. He specialises in securities law, capital markets regulation and international banking work. Andreas Heinzmann advises clients on the issue of debt and equity securities (including stock exchange listings), securitisations, high yield bonds, repackagings, structured products and derivatives as well as syndicated lending, leveraged finance and debt restructuring. He publishes regularly in this field of expertise.
Participants
Zamyra H. Cammans, Circumference FS
Holger von Keutz, PricewaterhouseCoopers
Holger von Keutz, a German Wirtschaftsprüfer and Luxembourg Réviseur d'entreprises agréé, is a Partner in the assurance department of PwC Luxembourg, furthermore leading the Securitisation business. Besides being responsible for the audit of Luxembourg securitisation vehicles, Holger von Keutz provides financial and regulatory advice as well as advice on the set-up of structured products. Furthermore, he is involved in audit and audit-related services to credit institutions, asset managers, and investment firms, and has extensive experience in the audit of annual accounts and consolidated accounts under LuxGAAP, HGB, and IFRS.
Holger von Keutz is a lecturer in audit and financial reporting at the University of Applied Sciences Trier and he has authored several securitisation-related publications in Luxembourg.
Frank Mausen, A&O Shearman
Frank is one of the leading Capital Markets and Banking & Finance Partners at Allen & Overy in Luxembourg. He specialises in securities laws and capital markets regulation, including stock exchange listings. Clients include banks as well as corporate, institutional, supranational and sovereign issuers for whom he advises on debt and equity transactions and structured finance transactions including securitisation, structured products, covered bonds, IPOs, placements and buy-backs of securities, exchange offers, listing applications and ongoing obligations deriving from such listings. He has more than 20 years of experience in these areas. Frank is also the Market Intelligence and Know-How Partner at Allen & Overy in Luxembourg.
Frank regularly holds conferences on securitisation and other capital markets topics in Luxembourg and abroad. He is a member of the securitisation working group of ALFI (the Association of the Luxembourg Fund Industry) and the securitisation working group and the financial markets committee of the ABBL (the Luxembourg Bankers’ association). Frank is also a member of the Islamic Finance working group of Luxembourg for Finance (Luxembourg’s agency for the development of the Luxembourg financial centre) and has joined the Haut Comité de la Place Financière (a committee set-up by the Luxembourg Ministry of Finance aiming to modernise Luxembourg’s financial sector legislation). Frank is also the secretary of the Luxembourg Capital Markets Association (LuxCMA).
Frank served from 2018 to 2020 as Managing Partner of Allen & Overy Luxembourg.
“Frank Mausen is ‘always up to speed and assists us very well’, applauds one client. He has a strong practice advising clients on DCM mandates, including establishing EMTN programmes, bond issuances and setting up securitisation vehicles.” Chambers and Partners
Michele Barbieri, CSC
Dr. Michele Barbieri holds a PhD in international economic law from Bocconi University, an MBA from EDHEC business school, an MSc in international relations and a BSc in international sciences from the University of Milan. Since 2012 he has been working in Luxembourg, where he has held senior legal and tax roles with big4 consultancies, corporate service providers and an asset manager. Previously, he worked as university researcher and lecturer of economic law and as consultant for governmental and intergovernmental organizations on legal matters governing international investments. He joined CSC (at that time Intertrust) in 2021 where he leads a team of legal and accounting professionals in charge of a portfolio of securitization vehicles and other capital markets entities. He also supports the commercial development activities of the capital market segment in Luxembourg, Italy and Germany and several strategic legal assignments. A native Italian speaker, he is fluent in English, French and has a good knowledge of Spanish.
Arkadiusz Arek Kwapien, Cafico International
Arkadiusz (Arek) Kwapien is Director of Corporate Services in Cafico International’s Luxembourg office. He is responsible for the overall management and delivery of corporate services to Luxembourg-domiciled companies.
Arkadiusz has over 19 years of experience in financial services acquired in top European centres: Ireland and Luxembourg. Having worked with various service providers, Big 4 and banks, he has a strong understanding of the Luxembourg regulatory framework and the various structuring opportunities available to investment firms, venture capitalists, arrangers, and issuers wishing to set up their local vehicles. He acts as director of numerous client companies ensuring proper governance and compliance with applicable laws and regulations. Arkadiusz is an active member of the Luxembourg Capital Markets Association (LuxCMA).
Asset Classes
Englisch
Residential Mortgage Securitisation – Between Covered Bonds and Portfolio Transactions
Moderation
Claire-Marie Mallad, White & Case
Claire-Marie Mallad is a partner partner in the firm's Capital Markets group in Frankfurt practicing in the areas of Debt Capital Markets, Structured Finance and Bank Regulatory laws. Claire-Marie represents financial institutions and investors on a wide range of capital markets transactions with a particular focus on structured finance products, including asset-backed and risk transfer transactions for the purposes of managing a bank’s exposure to credit risk. Furthermore she advises on regulatory capital issuances and advises issuers on the establishment and update of refinancing platforms, including EMTN and CP programmes including advice on regulatory laws and their implications on bank issuers and their creditors.
Participants
Olga Kashkina, ING Bank
Securitisation professional with experience across origination, rating analysis, cash flow modelling, portfolio valuation and legal documentation review. Experienced across European RMBS, auto and consumer loan ABS, SME lending and equipment leasing, with active coverage of German, BeNeLux and UK clients.
Jens Tolckmitt, vdp
Jens Tolckmitt, born in 1971, was appointed Chief Executive of the Association of German Pfandbrief Banks (vdp) in June 2009.
Between January 2003 and May 2009, he served as the Managing Director of the Association of Foreign Banks (VAB) in Germany. Before that, from 1998 to 2002, Jens worked for the Association of German Mortgage Banks in Bonn and Berlin (the predecessor organization of the vdp) in several positions, finally heading the capital markets department of the association. Prior to this he studied economics, specializing in monetary macroeconomics and finance, and graduated in 1998.
Ruben van Leeuwen, DMFCO
Ruben van Leeuwen is Senior Manager Business Development at DMFCO, the largest independent residential mortgage platform in the Netherlands with EUR 35bn AuM and 50 institutional investors.
Before joining DMFCO, Ruben spent 12.5 years at Rabobank in debt capital markets and research, both with a strong focus on RMBS and covered bonds. In DCM he led the FI team, originating and executing secured and unsecured debt transactions for banks and insurers across Europe. In research, he built and ran Rabobank's ABS franchise, producing daily commentary, thematic reports and regular investor visits, with particular attention to regulatory change. Prior to Rabobank, he started his career as an economist at ABN AMRO.
Ruben is a CFA charterholder and holds an MSc in International Economics from Maastricht University.
Ulf Kreppel, Jones Day
Ulf Kreppel's practice focuses on cross-border securitizations and structured finance transactions. Amongst his clients are international financial institutions, investment firms and so-called "alternative capital providers".
With more than 20 years of product experience, Mr. Kreppel has extensive expertise in the structuring and execution of structured finance transactions. This includes public and private securitizations, asset-based lending and covered bond transactions, structured as stand-alone term transactions as well as asset-backed notes programs. Mr. Kreppel advises on a variety of asset classes, such as auto loans and leases, consumer credits, trade receivables and real estate loans. He also acts as program counsel for several European-based asset-backed commercial paper programs.
Mr. Kreppel has advised on a number of innovative and market-first transactions, including the purely blockchain-based issuance and settlement of asset-backed commercial paper. In addition, he regularly advises on regulatory aspects in financing transactions, e.g. on so-called "simple, transparent and standardized" (STS) securitizations as well as questions regarding the European Securitization Regulation. Mr. Kreppel has coauthored several articles on the legal risks and structural solutions for securitizations.
13:00 - 14:30
Lunch break
13:30 - 14:15
Lunch Special
Englisch
AI – Tectonic Shift and Impact on the Financial Industry
Participants
Anika Oberbillig, Maples Group
Anika specialised in providing fiduciary services to structured finance and securitisation companies since 2018. She and her team are covering the whole lifecycle of Luxembourg companies from incorporation over the administration of the daily business, corporate governance, monitoring and risk management as well as liquidations. She also serves as a director on the board of Luxembourg securitisation vehicles, including regulated ones.
Previously, Anika worked in the audit sector with KPMG Société Coopérative in Luxembourg in the audit of banks and securitisation vehicles for over 6 years. Prior to this, Anika worked at Deutsche Postbank AG in Credit Risk Controlling for two years in which she mainly focussed on regulatory compliance and projects.
Aleksander Kling, European DataWarehouse
Kwaku Owusu-Oware, HTW Berlin (University of Applied Sciences)
Data and AI professional with more than six years of experience in insurance, banking and technology. Former Acting Head of IT at Ghana Union Assurance, leading the IT department across 3 branches and 15 agencies and reporting directly to executive management. Now based in Berlin, completing a master's degree at HTW Berlin while leading the university's AI assistant project for its Student Services. An experienced presenter who explains complex technology in clear, simple language to executives, auditors and non-technical audiences
14:30 - 15:30
Market Trends
Deutsch
Private Credit: Finanzstabilität durch Diversifikation?
Keynote
Michael Theurer, Deutsche Bundesbank
Michael Theurer has been a member of the Deutsche Bundesbank’s Executive Board since September 2024, where he is responsible for financial supervision and financial stability. In this capacity, he is also a member of the Supervisory Board of the Single Supervisory Mechanism at the European Central Bank, the German Financial Stability Committee and the Committee on the Global Financial System of the Bank for International Settlements.
Prior to joining the Bundesbank’s Executive Board, Mr Theurer, an economist by training, was a member of the German Bundestag from 2017 to 2024. From 2021 to 2024 he was parliamentary State Secretary at the Federal Ministry for Digital and Transport and, from 2022 to 2024, the Federal Government Commissioner for Rail Transport.
From 2009 to 2017, Mr Theurer was a member of the European Parliament and, from 2011 to 2014, Chair of the European Parliament’s Committee on Budgetary Control.
From 1995 to 2009, Mr Theurer was Lord Mayor of the city of Horb am Neckar.
Moderation
Dr. Stefan Henkelmann, A&O Shearman
Career history
Partner, Allen & Overy LLP, Frankfurt, since 2015
Counsel, Allen & Overy LLP, Frankfurt 2012 - 2015
Associate, Allen & Overy LLP, Frankfurt, 2009 - 2012
Associate, Hengeler Mueller, Frankfurt, Düsseldorf and London, 2003 -
2009
Legal qualifications
Assessor, Germany, 2002
Referendar, Germany, 2000
Academic qualifications
Dr iur, Julius-Maximilians University of Würzburg, Germany, 2008
Second German Law Degree, 2002
First German Law Degree, 2000
Publications
Geier/Henkelmann: "New Regulatory Developments for the Use of
Derivatives in Structured Finance Transactions", in: Journal of
International Banking Law and Regulation (JIBLR), volume 29, issue 3,
2014, p. 191 et seqq.
Henkelmann/Geier: "EMIR – Auswirkungen auf
Verbriefungstransaktionen" [EMIR – Impact on Securitisation
Transactions], in: Risikomanager, issue 19, 2013, p. 11 et seqq.
Henkelmann: "Debt Refinancing and Restructuring", in: Lawyer Monthly
Magazine – Legal Focus – Germany: Debt Refinancing and Restructuring,
July 2013
Kusserow/Henkelmann: "Neue Perspektiven für Whole Business
Securitisations?" [New Perspectives for Whole Business Securitisations?],
in: Risiko Manager, 19/2012, p. 12 et seqq.
Henkelmann S. (2009): "Schwebende Vertraege in der Insolvenz – Zum
Wahlrecht des Insolvenzverwalters nach § 103 InsO", Hamburg 2009
Languages
English, (Level 1 - Fluent/Bilingual)
French, (Level 4 - Can participate in business meetings/review simple
documents)
German, (Level 1 - Fluent/Bilingual)
Participants
Dr. Dennis Heuer, White & Case
Widely recognised as a leading finance and capital markets lawyer, Dennis has over two decades of experience advising domestic and international clients on a broad spectrum of complex cross-border transactions.
A partner in the Firm’s Global Capital Markets Practice, Dennis co-heads the EMEA Private Asset-Backed Credit and Structured Finance Group and is a core member of the firm-wide ESG and Financial Institutions Industry Groups. His practice spans a diverse range of sectors, with a particular focus on private credit, structured finance, fund finance, bank regulatory and securitisation. Dennis has extensive experience representing banks, private credit providers, asset managers, funds, insurance companies, debt collection companies, multinational corporates and fast growth companies in transactional and advisory mandates. His track record includes advising on securitisations, bank lending transactions, regulatory capital deals, and complex financing structures that bridge the fund finance, securitisation and corporate finance markets. Recognised for his structuring skills and ability to deliver innovative and market-leading solutions, Dennis has played a key role in the growth of private credit and the ongoing convergence of funding markets.
Prof. Dr. Sascha Steffen, Frankfurt School of Finance & Management
Sascha Steffen ist Professor für Finance an der Frankfurt School of Finance & Management und DWS Senior Chair in Finance. Er forscht mit Hilfe neuester empirischer Methoden und innovativer Daten an der Schnittstelle von Finanzmärkten, Regulierung und realem Sektor. In aktuellen Projekten stellt er Fragen zu den Folgen des stetig wachsenden Schattenbankensektors, Preisabsprachen von Banken bei Syndizierungen oder dem „Brexit“. Seine Forschung wurde in den führenden Fachzeitschriften wie dem Journal of Finance, dem Journal of Financial Economics und dem Review of Financial Studies publiziert und hat viele Forschungspreise gewonnen. Die amerikanische Einlagensicherung (FDIC), die Deutsche Forschungsgemeinschaft (DFG) und andere Organisationen haben die Forschung von Sascha Steffen unterstützt. In 2010 hat er das Lamfalussy Fellowship der Europäischen Zentralbank (EZB) gewonnen.
Sascha Steffen spricht regelmäßig auf internationalen Konferenzen, Tagungen von Unternehmen und Konferenzen und Workshops, die von Zentralbanken, Ministerien oder internationalen Organisationen wie der Bundesbank, der EZB, des Europaparlaments, der amerikanischen Zentralbank, dem Weltwährungsfonds oder der FDIC organisiert werden.
Er hat verschiedene Lehrprogramme auf Master-, MBA-, Executive- und PhD Ebene entwickelt und fungiert als Berater für Banken, Zentralbanken und Asset Manager.
Christian Burkard, DCCP Deutsche Credit
Christian Burkard, Investment Partner, Deutsche Credit
Christian Burkard is Investment Partner at Deutsche Credit. Prior to joining Deutsche Credit, Mr. Burkard worked for more than 12 years in Barclays' Investment Banking division in Frankfurt, during this time he was responsible for Financial Sponsor Coverage in the DACH region and advised several corporates on C-level. In this role he led numerous Leveraged Finance and M&A transactions. Before joining Barclays, Mr. Burkard worked for more than five years in GE Capital's Leveraged Finance team in Frankfurt and London and supported the opening and growth of the Frankfurt office. He started his career at DZ Bank in Frankfurt and New York, where most recently he was part of the Leveraged Finance team. Christian holds an MBA with distinction from INSEAD as well as a Bachelor of Business Administration from Frankfurt School of Finance & Management.
SRT Investor Roundtable
Englisch
Market Trends, Performance & Outlook
Moderation
Dr. Patrick Scholl, Mayer Brown
Dr. Patrick Scholl is a Partner and Leader of our German offices capital markets, financial services regulatory, and regulatory offerings. He advises on debt capital markets, structured products and derivatives, structured finance and financial regulatory matters. His team focuses on bonds, repackagings, synthetic risk transfers, bank hybrid and MREL capital, liability management transactions, derivatives regulation, central clearing and related prudential, ESG, digital, benchmark, payment services and outsourcing matters. Patrick is appointed by banking and market associations to assist in the development of new standards for the derivatives and capital markets.
Participants
Joanna Kosek, Christofferson Robb & Company
Joanna Kosek is Partner and Managing Director at CRC. As Head of Germany and Poland she is active across all Northern and Eastern European regions with primary responsibility for structuring and originating synthetic and true sale SRT transactions with banks on diverse asset pools.
Joanna is also Chair of the ESG committee, setting the Firms approach in the blind pool and real asset areas. She joined the Firm in 2009 from the structured finance team at Assured Guaranty in London, where she specialized in collateralized loan obligation investments. Prior to Assured Guaranty, she worked in the Credit Asset Management Department at Dresdner Kleinwort, structuring capital relief transactions for the bank and optimizing the bank's RWA. She has a First Class B.Sc. in mathematics and computer science from the University of London (2003). She wrote her MSc Thesis in Pure Mathematics at Imperial College London (2004). She is based in London.
Som-lok Leung, IACPM
Portfolio Managers (IACPM). The IACPM is a non-profit industry association dedicated to advancing the practice of credit portfolio management through advocacy, research, education, communication and promotion of sound practice. The association has grown enormously in its 15 year history; its membership now comprises over 100 financial institutions around the globe. In his role, Som-lok oversees all aspects of the association, and reports to the IACPM Board of Directors. Previously, Som-lok was a Senior Director in the Moody’s KMV Client Solutions group, working with a wide range of banks, insurance companies, and asset managers. Prior to joining MKMV, Som-lok accumulated over a dozen years of risk management experience, both in staff positions and as a management consultant. Som-lok has been Director of Risk Policy at Nomura Securities, responsible for covering both market and credit risk on the New York trading floor, and also Director of Credit Risk Control at the Union Bank of Switzerland in NY, responsible for both counterparty credit risk and risk measurement and management for the corporate loan portfolio. This followed a career as a management consultant at Oliver, Wyman & Co. that focused primarily on risk management. Som-lok graduated summa cum laude from Harvard University.
Andras Vajda, iconicchain
András Vajda is CEO and Co-Founder of iconicchain, the company behind iconicSecurities, the platform for structured finance. He has more than 20 years of executive and technology leadership experience and has delivered over 30 securitization and regulatory compliance projects with multinational banks and regulators. Before iconicchain, he led several large-scale programs at Ericsson that became high-growth, high-margin businesses. András holds an MSc in Distributed Systems and is the author of several articles and a book.
Dr. Arne Klüwer works as a Partner for Dentons in Frankfurt am Main. He heads the German banking and finance practice and the structured finance practice in continental Europe. He specialises in structured finance and restructurings with a special focus on securitisation and factoring, asset-based lending, innovative financings in the area of renewable energies as well as loan trading transactions. This includes wide-ranging experience in the securitisation of receivables originating from all traditional as well as more exotic asset classes, including trade receivables, secured and unsecured loans with various maturity profiles, lease receivables, hereditary building rights, consumer loans and telephone receivables. A presently especially relevant experience is his experience acting for an arranger and investor in the context of the structuring over the workout to the insolvency and the effects on a transaction for the securitisation of solar lease receivables originating from long-rental contracts over privately operated solar power plant installations in transactions with granular portfolios across all of Germany.
In addition, he has a strong focus on advising lenders and creditors in workout situations and in the context of restructuring distressed debt. His doctorate focusses on a comparative legal analysis of the legal framework for securitisations in the USA and in Germany and is one of the first academic writings on the subject of securitisation in Germany.
Participants
Robert Westermann, Openbank Germany
Robert Westermann has been responsible for structuring in the ABS department of Santander Consumer Bank AG (SCB) in Mönchengladbach since 2019. Here, the focus is on equity management transactions and the implementation of captive and joint venture funding transactions. Previously, Robert spent four years at Raiffeisen Bank International AG, structuring client transactions in the area of auto and consumer ABS as an arranger. Robert graduated from the Swiss Federal Institute of Technology (ETH) Zurich with a Master‘s degree in „Management, Technology and Economics“.
Dr. Gaby Trinkaus, Moody´s
Dr. Gaby Trinkaus, CFA, is a Senior Vice President and manager in the structured finance surveillance group covering European securitization transactions backed by residential mortgage, auto and consumer loans. She leads a team of analysts in Frankfurt, Milan and Paris and oversees projects regarding credit analysis and process optimization. Prior to joining Moody’s, she worked as a Senior Manager in securitisation services at Deloitte managing projects at asset managers and banks regarding significant risk transfer, effectiveness and adequacy of controls and data quality. Gaby studied at the university of Münster, completed her doctorate degree at the banking department, University of Cologne, analyzing regulatory capital relief from synthetic RMBS. Gaby is a CFA® charterholder.
Salah Maklada, SVI
Salah has been a Director of STS Verification International GmbH since March 2023. He joined the STS Verification International GmbH team in July 2021, bringing in 10 years of securitisation experience gained through his work in the Credit and Securitisation team of Deloitte.
His responsibilities at Deloitte covered trustee and verification services for a wide range of clients in Germany (originators, investors and sponsors) in various synthetic and true sale transactions.
As a Senior Manager at Deloitte he was mainly responsible, as the lead manager, for the performance of agreed-upon procedures and credit file due diligences at banks in the context of securitisation and portfolio transactions for consumer, auto and mortgage loans. Salah was also responsible for the performance of several asset audits at medium-sized businesses with regards to trade receivables securitised in ABCP transactions.
Salah holds a degree (Diploma) in Business Administration from the University of Cologne.
Tel: +49 (0)69 8740 344-45
E-mail: salah.maklada@svi-gmbh.com
CV
Work experience
since
March 2023 Director, STS Verification International GmbH, Frankfurt am Main
2021 - 2023 Associate Director, STS Verification International GmbH, Frankfurt am Main
2011 – 2021 Senior Manager (2020-2021) Credit & Securitisation Advisory, Deloitte Wirtschaftsprüfungsgesellschaft GmbH, Düsseldorf
2015 – 2016 Assistant Manager (Secondment) Banking & Capital Markets, Deloitte LLP, London (UK)
Education
2005 – 2011 Master of Science in Business Management (Diploma degree program): Fields of Specialisation: Banking, Finance and Economics. Master Thesis: “The instruments of credit risk transfer in cooperative financial institutions in Germany”; University of Cologne
1997 – 2001 High school in Haifa, Israel. Degree: Israeli high school certificate
Market Trends
Englisch
Inventory & Warehouse Finance – Scaling Up Business Models Forward
Moderation
Jördis Heckt-Harbeck, Linklaters
Jördis Heckt-Harbeck has specialised experience in debt capital markets products with a focus on asset based structured finance, including, in particular, true sale and synthetic securitisation, warehouse financings (in particular, in the area of FinTech and digital business models), structured covered bonds, high yield bonds, secured bank financings and other secured financing of various asset classes. She has expertise in ship and consumer finance and also regularly advises on portfolio sales and NPL transactions. She is recognised by Legal 500 Germany 2026 as a "partner of the next generation" in the field of Capital Markets Law: Structured Finance and Securitisation. She is also ranked as one of the leading lawyers by Chambers Germany/Global 2026 and as a rising star by JUVE 2025/2026 in the area of structured finance.
Participants
Dr. Ivan Zlatanov, Ashurst Perkins Coie
Dr Ivan Zlatanov is a counsel in our structured finance practice in Frankfurt and a member of our global markets group
Ivan is a structured finance and capital markets expert focussing on advising banks and companies, particularly in relation to specialty finance, true sale securitisation transactions in respect of various asset classes, including auto loans, leases, consumer finance, NPL and trade receivables as well as loan portfolio transfer transactions.
Further, he advises on derivatives and regulatory matters in connection with structured finance and securitisation transactions.
Stefan Rolf, ROLF Advisory
Stefan Rolf is an internationally experienced senior executive in finance and banking with a strong global network. He has a proven track record of building and transforming businesses and driving change. Stefan has deep expertise in corporate treasury, debt capital markets, securitization, and private debt, as well as a focus on sustainable and impact financing solutions. Before founding ROLF Advisory GmbH, Stefan has held various international leadership roles, including Global Head of Securitisation and Private Debt at IQ-EQ, Global Head of Balance Sheet Distribution and Securitisation at ING Wholesale Bank as well as Head of Securitisation and Treasurer of the Asia-Pacific region at Volkswagen Financial Services. Stefan has worked on many ground-breaking and innovative transactions in the global securitisation and structured finance markets, such as first time transactions in China, Turkey and Brazil. He has also done deals across a broad range of asset classes such as auto, consumer lending, SME loans, equipment, infrastructure and sustainability improvement loans and even more esoteric ones. Stefan is a frequent speaker at structured finance/capital markets events in Europe, the US and the Asia- Pacific region, and has worked closely with the European Central Bank, national central banks and various supervisory institutions. He holds an MBA in Economics and is fluent in German and English, with intermediate proficiency in French and Spanish. Stefan is married and has one daughter.
Matteo Gervasio, AUTO1 Global Services
Marc Wolf, BayernLB
Marc Wolf is Deputy Head of Securitisation at BayernLB in London and responsible for ABS and international Corporate receivables securitisations. Marc has more than 20 years of experience in origination and structuring asset-backed financing solutions with a special focus on trade-, auto-, consumer- and lease receivables. Prior to joining BayernLB in 2018, he held similar positions at Crédit Agricole CIB, J.P. Morgan and BNP Paribas in London. He started his career at Dresdner Kleinwort Wasserstein in Frankfurt and holds a degree in business administration from the University of Cologne, Germany.
15:30 - 16:00
20th Anniversary Break
16:00 - 17:00
Asset Classes
Englisch
Auto ABS – Residual Value Risk, EV Transition and Performance Outlook
Moderation
Tom Oelrich, DZ BANK
Tom Oelrich has been working for DZ BANK AG in Frankfurt am Main in the securitisation department since 2003. As a senior structurer, he has been advising DZ BANK’s clients in all aspects relating to term-ABS capital market transactions since 2015 with a focus on auto-ABS, consumer and SME loans as well as leasing transactions. Previously, Mr. Oelrich arranged ABCP transactions for corporate clients of DZ BANK.
Since entering into the securitisation business, he has structured a large number of customer transactions and has successfully accompanied numerous transactions as placement agent and swap counterparty. Mr. Oelrich has graduated from Frankfurt School of Finance & Management and holds a degree in Business Administration.
Participants
Michael Evers, Openbank Germany
Michael Evers has been a member of the ABS team at Openbank Deutschland AG (OBD, formerly Santander Consumer Bank AG) in Mönchengladbach since the end of 2019. His work focuses on the structuring and execution of transactions for the capital and liquidity management of OBD as well as its subsidiaries and joint ventures. Prior to this role, he spent eight years in various positions, including several years at Volkswagen Financial Services AG, focusing on regulatory matters. During this time, he specialized in the implementation and interpretation of CRR requirements. Michael holds a B.A. in European Business Administration from Euro-FH Hamburg and an M.A. in Business Administration from Ostfalia University of Applied Sciences in Braunschweig.
Lars Fischer, Volkswagen Bank
Lars Fischer started his career at Volkswagen Financial Services AG in 2008 and joined the Securitization Team in 2012. During this time he worked on the securitization of auto leases, auto loans as well as truck and bus assets in various countries worldwide. After working for Volkswagen Financial Services UK as Lead Structured Finance Analyst, he took over responsibility for Volkswagen Financial Services’ structured finance activities as Head of Asset Backed Securities in July 2024.
Guglielmo Panizza, Morningstar DBRS
Guglielmo Panizza is a Senior Vice President at Morningstar DBRS, where leads the analytical team for the assignment of new ratings to European ABS transactions backed by auto loans and auto leases. Guglielmo has worked in the mobility and automotive finance industry for several years, covering various roles in Europe within credit and securitization at FCA Bank. Guglielmo started his career at BNP Paribas Corporate & Investment Banking working in the Global Markets division. He holds a Master of Science in Economics and Social Sciences from Bocconi University and he is a CFA Charterholder.
Eberhard Hackel, Fitch Ratings Ltd.
Eberhard Hackel is a Managing Director in Fitch Ratings’ European Structured Finance group, where he leads the EMEA ABS team from Frankfurt. His team is responsible for rating asset-backed securities (ABS) supported by a diverse range of assets, including auto loans, equipment or auto leases, unsecured consumer loans, and credit card receivables. Additionally, they handle asset-backed commercial paper (ABCP) and emerging market transactions backed by various assets.
Prior to joining Fitch in 2008, Eberhard worked in the risk controlling department at Landesbank Hessen-Thüringen (Helaba). There, he was responsible for measuring the market risk of the Helaba group and collaborating with German regulators on the supervision of Helaba’s internal market risk model.
Eberhard holds a diploma in Business Administration from the University of Göttingen and has earned the Financial Risk Manager (FRM) certification from the Global Association of Risk Professionals.
Regulatory Special
Englisch
Capital Management & Competitiveness of European Banks
Moderation
PWC
Participants
Dr. Julian Fischer, Hogan Lovells Cadwalader
Dr Julian Fischer is a partner in Hogan Lovells Cadwalader’s Frankfurt office and a member of the firm’s International Debt Capital Markets practice. He advises banks and financial institutions on synthetic and traditional securitisations, including significant risk transfer transactions, structured finance transactions and portfolio-based financing solutions across a broad range of asset classes. His work includes transactions aimed at regulatory capital optimisation, credit-risk transfer and strategic balance-sheet management, as well as advice on the related CRR requirements.
Through his ongoing work with banks, insurers and other protection providers, Julian is closely involved in market discussions on the evolving European framework for securitisations and significant risk transfer. This includes the proposed amendments to the CRR and the EU Securitisation Regulation as they progress through the legislative (Trilogue) process, as well as the implications of the recently adopted Solvency II reforms for insurer participation in securitisations and unfunded credit protection.
In addition, he has extensive experience in loan and derivatives portfolio transactions, non-performing loan financings and complex restructuring situations in the regulated financial sector. He is recognised for his expertise at the intersection of structured finance, capital markets and financial regulatory law.
Benedikt Mankel, Deutsche Bundesbank
Benedikt Mankel is an expert on regulatory policy issues relating to securitisations at the Deutsche Bundesbank. The studied mathematician represents the Bundesbank in various European and national working groups and actively contributes to the interpretation and development of the legal framework. His professional experience includes one year at the European Central Bank, during which he was instrumental in establishing the SSM hub on securitisation.
ESG & Regulation
Englisch
ESG, Omnibuses, and their Impact on Securitisation
Participants
Christoph Plattenteich, SEB
Christoph Plattenteich is Co-Head of Debt Capital Markets & Head of ABS, DACH at SEB in Frankfurt. He has more than 30 years of experience in banking and held various management roles at European financial institutions. Through all the years his main focus has been the capital markets an structured finance business. Christoph has extensive experience in structuring capital market transactions with a special focus on the securitization of trade-, loan- and lease-receivables.
He holds a degree in economics from the Westfälische Wilhelms-Universität Münster.
Speakers
Andrea Flunker, Deloitte
Andrea Flunker has more than 17 years of experience in the field of Structured Finance and Securitisation services in Germany and the UK. She leads regulatory and accounting advisory projects for originators, investors and sponsors in various synthetic and true sale transactions. Her other focus is on sustainability reporting. In particular, she leads consulting projects on the implementation of the Corporate Sustainability Reporting Directive (CSRD) and the Sustainable Finance Disclosure Regulation (SFDR). In addition, she is responsible for assurance services on sustainability reportings or non-financial statements and post-allocation reports in connection with green bond issuances. Furthermore, she leads the Europe-wide Deloitte working group on the implementation of Art. 8 Taxonomy Regulation for banks, insurance companies and asset managers.
Asset Classes
Data Centers as Driver for AI – Financing between Securitisation, Real Estate and Project Finance
Moderation
Thorsten Klotz, Moody´s
Thorsten Klotz is a Managing Director in the Moody’s Ratings EMEA Structured Finance Group and oversees the new ratings activities for Corporate Asset Securitization in the EMEA region. Analytical coverage includes a wide range of asset classes such as Collateralized Loan Obligations (CLOs), balance sheet CLOs, granular SME loan & lease securitizations, Asset-Backed Commercial Paper (ABCP) and Commercial real-estate backed securitizations (CMBS).
Prior to his appointment to Managing Director in 2008, Thorsten was a lead analyst in the Moody’s EMEA Structured Finance Group and worked on various transaction types, including CDOs of ABS, Leveraged Loan CLOs and German SME loan securitisations.
Before joining Moody’s in 2002, Thorsten was a Senior Derivatives Structurer at CDC IXIS Capital Markets where he was responsible for the development and pricing of interest rate and inflation linked structures. Prior to this role, he was working as a trader for fixed income derivatives and equity linked structures at DZ BANK (former DG BANK).
Thorsten holds a master degree in managerial economics (University of Passau) with main options in insurance & risk theory, finance and statistics.
Participants
Doug Paterson, S&P Global Ratings
Antonia Walter, Clifford Chance
Antonia Walter is a Counsel in Clifford Chance's Structured Finance practice in Frankfurt. She advises banks, financial institutions and investors on a broad range of German and cross-border structured finance transactions. Her experience includes securitisations, synthetic significant risk transfer (SRT) transactions, portfolio sales and receivables financings across various asset classes. Antonia has advised on a number of innovative and market-leading transactions, including data centre securitisations, residential solar and heat pump ABS transactions, the set-up of a German law master trust structure in relation to a portfolio of revolving credit card receivables and complex risk transfer structures for leading European financial institutions.
Ralf Raebel, DZ BANK
Nach der Ausbildung zum Bankkaufmann und dem Studium der Betriebswirtschaftslehre stieg Ralf Raebel 1996 bei der DG BANK AG, Frankfurt a.M., als Trainee Investment Banking ein. Bis 2002 arbeitete er als Finanzanalyst im Bereich Equity Capital Markets und war dort eingebunden in die Akquisition und Durchführung von IPO-Mandaten. Nach mehreren Jahren im Bereich Corporate Finance/Technology wechselte er 2006 ins ABS Research, dessen Leitung er in 2011 übernahm. Herr Raebel verfügt über eine langjährige Kapitalmarktexpertise sowohl auf der Eigenkapital- als auch auf der Fremdkapitalseite. Er ist u.a. Verfasser verschiedenster Publikationen zu verbriefungsrelevanten Themen. Ein weiterer Schwerpunkt seiner Tätigkeit ist die Durchführung von Wertpapier- und Portfolioanalysen sowie die Beratung institutioneller Kunden bei der Anlage in ABS und alternativen bzw. hybriden Finanzinstrumenten.
17:00 - 17:30
Coffee break
17:30 - 18:30
Regulation
Englisch
Securitisation Regulation – Getting It Right This Time?
Moderation
Dr. Oliver Kronat, Clifford Chance
Dr Oliver Kronat is Partner in the Frankfurt office of Clifford Chance. Oliver Kronat specialises in advising on German and international structured finance transactions. His experience includes the securitisation of trade, consumer, leasing and loan receivables and the establishment of ABCP Conduit Programmes. He also advises on the restructuring of securitisation and other structured finance transactions as well as on securitisations by insolvent companies.
He is a member of the TSI Securitisation Forum (Verbriefungsforum) and was involved in the commenting by TSI on significant draft bills
(including the Risk Limitation Act
(Risikobegrenzungsgesetz), the Debenture Act (Schuldverschreibungsgesetz) and the implementation of CRD II and III) into German law. Oliver Kronat is also admitted as tax advisor.
Participants
Jan-Peter Hülbert, TSI
Jan-Peter Hülbert has been Managing Director of True Sale International GmbH since July 2018. He brings over 20 years of experience in the banking and capital markets business, including 16 years in securitisation on the banking side. Jan-Peter has been responsible for client transactions for banks, corporates and leasing companies in the public ABS, private securitisation and ABCP segments. He holds a degree in business administration from LMU Munich and is a member of the Supervisory Board of STS Verification International GmbH and of the Supervisory Board of European DataWarehouse GmbH.
Dr. Burkhard Rinne, Linklaters
Dr Burkhard Rinne specialises in structured finance transactions (including securitisations, structured covered bonds, asset-based finance and other secured financings). He further advises on the clearing through central counterparties, on the settlement of securities, the pooling of cover assets as well as on regulatory capital relief structures for banks. He holds special expertise in transactions involving the use of the German refinancing register. Burkhard frequently advises banks and protection providers on guarantees issued for regulatory capital relief purposes, including in the form of synthetic securitisations.
He is listed as one of the "Leading Partners" in Legal 500 Germany 2025 in the area of structured finance and securitisation and Chambers Germany 2025 ranks him as one of the recommended lawyers for structured finance in Germany. He is also recommended by Handelsblatt/Best Lawyers® 2025 in the category "Best Lawyers" in the field of banking and finance law.
Alexandre Linden, BNP Paribas
Alexandre Linden has over 25 years of experience in the European credit markets. Alexandre is a managing director at BNP Paribas, co-heading the Securitisation Portfolio Management team in the Securitisation Products Group. Prior to joining BNP Paribas, Alexandre worked as a senior director at Fitch Ratings in CLOs and Covered Bonds and as a corporate credit risk manager at BNP Paribas and Barclays Capital. Alexandre is a graduate of Ecole Supérieure des Sciences Economiques et Commerciales (ESSEC) and is a CFA charterholder.
Geopolitics
Englisch
Defense, Security and Cyber Risks - Challenges in Financing Resilience
Moderation
Sven Haase, CSC
Sven Haase serves as Senior Director of Business Origination, Capital Markets at CSC, where he leads strategic initiatives with a focus on European transactions. Based in London, he plays a pivotal role in expanding CSC’s footprint across the region’s financial hubs.
Sven joined CSC in 2024, following three years in a similar leadership capacity. His financial career spans more than two decades, beginning at Deutsche Bank in 2000. During his 20+ years career, he held a series of senior positions across Equity as well as the Agency & Trust space, consistently driving innovation and delivering excellence in client service within global capital markets.
He holds a Master’s degree from EBS European Business School in Germany. Fluent in German, English, French and Spanish, Sven brings strong cultural fluency to complex international mandates.
Participants
Dr. Philipp Wackerbeck, PwC Strategy&
Dr. Philipp Wackerbeck is an advisor to executives in the financial sector for Strategy&, PwC’s strategy consulting business. He is a Partner at Strategy& Germany and based in the Munich office. As the Global Head of Financial Services for Strategy& and PwC’s EMEA Banking & Capital Markets Leader, he regularly advises clients on important strategic projects like growth and market entry strategies, reorganizations, large-scale transformations and particularly in deals related projects including M&A, carve outs and debt and equity transactions. Additionally, he has in-depth knowledge in the risk, capital and regulations space.
In addition to his functional expertise, Philipp has extensive knowledge in corporate and investment banking, particularly asset-based finance. He has supported banks, asset managers as well as insurance companies tackling their most important strategic and transformational challenges. An avid writer, he has contributed to books, and articles including several Strategy& reports. He has successfully led multiple high-profile client engagements in diverse settings in Europe, North America and Asia.
Sebastian Oebels advises national and international companies on German and international structured finance transactions. He has a strong focus on traditional securitisations, significant risk transfer securitisations and other types of asset-based lending structures. In particular, Sebastian has extensive experience in advising banks, issuers and originators on securitisations backed by auto loans/leases, renewable energy (solar and heat pump systems) and digital infrastructure-related assets.
Participants
Roberto Amato, S&P Global
Roberto Amato is an Associate Director in Structured Finance, EMEA, based in Frankfurt.
He is the Lead Analyst for the German ABS market. Since joining S&P Global Ratings in 2019, he has been involved in transactions covering a variety of asset classes, including Residential Mortgage-Backed Securities, secured and unsecured ABS and Commercial Paper. Roberto has 10 years of experience in Structured Finance and his past employers include the European DataWarehouse and the Hessische Landesbank. Roberto holds a BSc in Economics from the University of Bergamo, Italy and a MSc in International Economics from the University Tübingen, Germany.
Erik Welin, EIB
WORK EXPERIENCE
Loan Officer 2017 –
Erik Welin is a Loan Officer at the European Investment Bank (EIB). Erik focuses on transactions in Central, Eastern and Northern Europe and has been involved in several innovative green transactions such the first European Solar ABS with Enpal and the first Green SRT in Norway with DNB. By using securitisation transactions as a tool to provide either capital relief and/or funding, the EIB supports new financing in line with its Public Policy Goals such as Environmental, Climate and Social investments.
Some noteworthy transactions:
Enpal, Germany – First European Solar ABS
DNB, Norway – First Green SRT in Norway
LBBW, Germany – Landmark green SRT for Renewable Energy
Hypo Vorarlberg, Austria - Green SRT for Energy Efficiency mortgages
PKO Leasing, Poland – Largest Polish true sale ABS
Capital Markets Officer 2009 – 2017
Raising EIB funding by issuance of EIB AAA-rated bonds in the capital markets. Focused on the markets in the Nordics, Asia, Americas and Pacific. Issued both private placements and benchmark bonds.
Prior to the EIB
Pricing Analyst at State Street Bank 2006 – 2009
Pricing of OTC Derivatives (IRS, CDS, options etc) in the fund industry.
Research Analyst at Institutional Shareholder Services 2006 – 2006
Corporate governance rating of German, Swiss, Austrian and Scandinavian companies
Trainee at the European Parliament 2005 – 2005
Committee on the internal market and consumer protection.
EDUCATION
MBA, Business/Finance - Sacred Heart University 2008 – 2010
LLM, Law and Economic – Manchester and Hamburg 2004 – 2005
MSc, Economics and Political Science – Linköping 2000 – 2005
Erasmus exchange studies – Freiburg im Breisgau 2002 – 2003
Chartered Financial Analyst (CFA) 2013 –
Gregor Burkart, Enpal B.V.
Gregor is running the refinancing division at Enpal, which he has built over the last 6 years at the firm. With over €5bn in capital commitments and a €2.5bn asset portfolio under management, he has shaped and overseen the establishment of a new asset class of residential solar and heating in Europe through embedded and captive financing solutions. Previously, Gregor held a leading role at BlackRock, advising financial institutions on their capital allocation. Gregor is a CFA charterholder, holds a BSc of Business Administration from WHU – Otto Beisheim School of Management and a Minor in Law from Bucerius Law School.
Jason Goldstein, CFA, thermondo GmbH
Jason Goldstein joined thermondo in 2022 with a focus on raising debt capital. Since November 2023, he also assumed responsibility for the Thermondo Group's treasury function.
Prior to joining thermondo, Jason was a Principal at torq.partners based in Amsterdam. Prior to torq.partners, Jason spent 7 years in Thailand where he worked on local and cross-border M&A transactions in investment banking and corporate finance advisory capacities.
Jason studied finance and accounting at the University of Cape Town and is a CFA Charterholder.
Market Trends
Englisch
Double Pledging & Fraud: Impact of Recent Discussions on the German Market
Participants
Philipp von Websky, Deloitte
Philipp von Websky has been with Deloitte since 2001. Together with his team he has full focus on securitisations, covering all asset classes and various jurisdictions and having a particular emphasis on portfolio services (Pool Work, Asset Audits, Prospectus Work, Verification Agent).
Oleg Mänz, QuantFS
Oleg Maenz is an IT, banking, and management expert specialized in securitization and structured finance. His areas of expertise include asset-backed securities (ABS) reporting, product development, process optimization, risk modeling, and regulatory reporting. He has played various roles in implementing and reporting more than 70 securitization transactions, totaling over 8 billion euros. As a business angel and junior investor, he has actively shaped the securitization market for many years.
Christian Reinisch, SEB
Basak Aktay, European DataWarehouse
Basak is European DataWarehouse's (EDW’s) Head of Sales and Customer Relations. Prior to joining EDW in 2013, she worked at DZ Bank as a product manager with a focus on German capital markets. In addition to her current role at EDW, Basak also teaches at the Frankfurt School of Finance & Management. She has also held various management roles in technology and ecommerce departments at Commerzbank and Isnet and has an MBA from Manchester Business School as well as a MSc degree in Computer Engineering from Universität Duisburg-Essen.
Arnab Naskar, STOKR
Arnab Naskar is Co-Founder and Business Lead at STOKR, a regulated platform enabling the tokenization of real-world financial assets. A lawyer by training, he leads STOKR’s business strategy and strategic partnerships with financial institutions and capital-markets participants. Active in the blockchain industry since 2017, Arnab has also contributed to policy initiatives shaping digital asset regulation in Europe.
Supporting Programme
18:30 - 19:30
Conference Foyer Marketplace
Networking Reception
20:00 - 21:30
Groundfloor
Weinabend
Youngsters & Friends
Englisch
Rethinking Retirement: The Future of Private Pensions in Germany
Moderation
Nelleke van der Lei, Deutsche Bank
Nelleke van der Lei is a Sales Specialist within Deutsche Bank's Trust & Securities Services (TSS) business in Frankfurt. She advises corporates, financial institutions and law firms on escrow, agency and trust solutions for a broad range of domestic and cross-border transactions. Prior to joining TSS, Nelleke worked in Deutsche Bank's Strategic Corporate Lending division, where she structured and serviced Significant Risk Transfer (SRT) transactions, and in the Securitisation Reporting team. Nelleke holds a Master's degree in International Economics and Business from Utrecht University and is a Certified Financial Risk Manager (FRM).
Participants
Jan Schildbach, Deutsche Bank
Jan Schildbach is Director and Head of Banks, Financial Markets and Regulation at Deutsche Bank Research in Frankfurt. He joined Deutsche Bank in 2007. Jan has published extensively on the banking sector, trends in corporate finance, capital markets and regulatory developments. In addition to his external publications, he advises the Management Board, the bank's business divisions and clients, and has represented Deutsche Bank on the Steering Committee of the European Banking Congress since 2022. In 2022 and 2023, Jan Schildbach served as a lecturer in Commercial Banking at Frankfurt University of Applied Sciences. He studied Economics at the Universities of Mannheim and Bayreuth, as well as at the Helsinki School of Economics.
Tobias Spreiter, flatexDEGIRO Bank AG
As Executive Director and Head of Product & Business Development at flatexDEGIRO, Tobias Spreiter is responsible for developing new growth areas and innovative offerings for retail investors. For more than ten years, he has been involved in the transformation of the securities business towards digital, technology-driven business models. A trained banking professional, he studied Business Administration and holds an MBA. Before joining flatexDEGIRO, Tobias Spreiter held various positions in the financial services industry, where he played a key role in building and further developing digital business models in securities trading. He regularly provides insights into market and industry trends. His key areas of expertise include digitalisation and innovation in the securities business, as well as the impact of technological developments on investor behaviour.
21:30 - 02:00
DomLounge
Chill-Out & Get-Together
08:00 - 10:00
Registration
08:15 - 09:15
DomLounge
Deutsch
WirtschaftsFrühstück
Moderation
Dr. Martin Kaiser, Ashurst Perkins Coie
Dr Martin Kaiser, LL.M. is a partner in the finance department and heads the European securitisation team. He specializes in securitisations and focuses on the true sale securitisation of loan, lease and trade receivables, both listed public transactions as well as ABCP programs and bespoke private transactions, e.g. NPLs and start-up and FinTech finance. His expertise also includes aspects of German and European regulatory law related to securitisations. Martin Kaiser advises leading German and international banks, service providers (such as corporate service providers and trustees), leasing companies, car manufacturers and other corporates.
SpecialGuest
Linda Teuteberg, FDP
09:30 - 10:30
Corporate Special
Deutsch
Der Deutsche Mittelstand - Finanzierungsmodelle für die Zukunft
Moderation
Dr. habil. Christian Fahrholz, TSI
Christian Fahrholz is Director at True Sale International GmbH since November 2021. Prior to that, since April 2016, he was Head of Division at the Association of German Chambers of Industry and Commerce (DIHK), where he was responsible for the impact of financial market regulation and monetary policy on corporate financing. Until leaving the DIHK in October 2021, he was a member of the Executive Board at the Verband Deutscher Bürgschaftsbanken e. V. (VDB).
Prior to joining DIHK, he was a visiting scholar at the Central Bank of Estonia (Eesti Pank) and worked as a freelance consultant for public and private clients in Egypt, South Africa and the United States. Earlier appointments included a visiting professorship at the Chair of Macroeconomics, in particular monetary theory, at the University of Erfurt.
Participants
Dr. Armgard Wippler, Bundesministerium für Wirtschaft und Energie
Dr. Armgard Maria Wippler serves as Head of Division at the Federal Ministry for Economic Affairs and Energy (BMWE), where she is responsible for SME and Start-up-Financing as well as the Kreditanstalt für Wiederaufbau (KfW). In this capacity, she oversees a wide range of federal financing and equity instruments and contributes to shaping Germany's policy framework for entrepreneurship and start-ups.
Previously, Dr. Wippler spent nine years leading the division responsible for SME policy and internal market affairs in the service sector. Since the outset of the pandemic, her portfolio has also included the design, implementation, administration, and final settlement of eleven COVID-19 grant programs totaling 76 billion euros. During the last economic and financial crisis, Dr. Wippler was already entrusted with financing matters. At that time, she led the division responsible for managing the issuance of large-scale guarantees. Dr. Wippler also served six years as Head of Office for the German Federal Commissioner of SME Policy at the Ministry while supporting the work of two Parliamentary State Secretaries in this position. Prior to this she worked for one year in the German Mission at the United Nations in New York City. Dr. Wippler began her ministerial career in 1999 in the field of SME Policy.
Her PhD dissertation, completed at the Chair of Finance and Investment at Düsseldorf University, focused on innovative start-up companies in Germany and the U.S.
Matthias Wargers, Ascory Bank
Matthias Wargers has been a member of the Management Board of Ascory Bank and also its spokesman since March 2025. He is responsible for the Market division and thus for the core business areas of Corporate Clients/ Fintech, Energy Transition and Leveraged Finance. In addition, his responsibilities include the monitoring and management of the bank's internal treasury department. Today, Mr. Wargers serves as spokesperson for the Executive Board of Ascory Bank. In this role, he is responsible for the Market division, including the bank’s core business activities and the internal Treasury function. He also has responsibility for the Internal Audit department.
Huy Nguyen, Teylor AG
Huy Nguyen ist CFO & Head of Private Debt des Schweizer Fintechs Teylor, das die führende KMU-Kreditplattform Deutschlands betreibt. Dort verantwortet er Teylor Capital, den Private-Debt-Investment-Arm des Unternehmens. Vorher war er in verschiedenen Rollen in der Finanzindustrie tätig, zuletzt im Leveraged-Finance- und Structured-Finance-Team der Deutschen Bank in Frankfurt.
Sabrina Kensy, COMMERZBANK
Manfred Schultheis, VIBRA
Transparency Special
Englisch
Disclosure, Data and Proportionality – Is the Burden Still Justified? & Data Quality Award
Moderation
Dr. Christian Thun, European DataWarehouse
Dr. Christian Thun joined European DataWarehouse GmbH in 2016 as Chief Operating Officer and one year later, was appointed as CEO. Dr Thun worked previously at Moody’s Analytics for 14 years in various senior positions, most recently as senior director with inter alia responsibility for the DACH region. In the early stage of his career, Mr. Thun was a team leader at the risk consulting firm Baetge & Partner (an OliverWyman affiliate) and also worked in structured finance for Dresdner Bank in Frankfurt and London. Christian Thun has published more than 50 articles on topics such as securitisation, risk modelling, stress testing, and data management. He studied business administration and earned his Ph.D. in artificial intelligence at the University of Münster.
Market Trends
Englisch
Fund Finance & NAV Structures – Spillover into the Securitisation Markets?
Participants
Maria Divid, Scope Ratings
“Maria Divid is a structured finance professional with broad experience in securitisation credit risk, structuring, and investment. She is currently a Senior Director in the Structured Finance Primary Ratings group at Scope Ratings, where she leads analytical work on structured finance transactions with a focus on fund finance, including subscription line facilities, and contributes to rating committees, research, and methodology development.
Before joining Scope, Maria worked at Legal & General and Phoenix Group, focusing on sourcing, structuring, and executing Matching Adjustment eligible transactions backed by equity release mortgages. Earlier, she spent over a decade as a structured finance analyst at Moody’s Investors Service, acting as lead analyst on RMBS, ABS, and CMBS transactions.
Maria holds an International Master’s degree in Economics, Finance and Management from Humboldt University Berlin and the Higher School of Economics in Moscow, and a B.A. in Quantitative Economics with honours. She is also a CFA charterholder.”
Dr. Timo Patrick Bernau, GSK STOCKMANN
Dr Timo Patrick Bernau is a partner at our Munich office and heads our Banking and Finance division. He has extensive expertise in advising banks, financial service providers, fintechs, insurance companies and insurtechs, with a particular focus on regulatory issues, investment products and capital market compliance.
In addition, he provides comprehensive guidance on alternative investments, restructuring and structured financing. Timo has extensive knowledge of current banking and finance issues, including AIFMD II and ELTIFs, MiCAR, DORA, the AI Act, tokenisation and stable coins, securitisation and alternative assets as well as FiDA. He is frequently featured in high-profile industry rankings and regularly publishes on banking and finance topics.
Christoph Schwarz, OCORIAN (UK) LIMITED
Christoph (Schwarz) arbeitet seit über 25 Jahren im Finanzwesen. Nach dem 2. Staatsexamen begann er seinen Werdegang bei der Württemberger Hypo in Stuttgart. Im Jahr 2005 zog er nach London, wo er für Banken, Versicherungen und Beratungsfirmen im Verbriefungsbereich tätig war, darunter Lehman Brothers, HSH Nordbank, Genworth und StormHarbour.
Seit 2018 ist er im Corporate Trust / Service Bereich tätig, zuerst für BNY und nun für Ocorian Nordic Trustee, wo er seine Kunden beim Aufsetzen und Verwalten von Verbriefungsstrukturen unterstützt.
Asset Classes
CLOs – further Growth in turbulent Markets?
Participants
Alexander Lanin, Infinigion
Christopher Schumann, DZ BANK
10:30 - 11:00
Coffee break
11:00 - 12:00
Market Trends
Englisch
Synthetic SRT – From Niche Instrument to Core Capital Tool
Moderation
Michael Osswald, SVI
Michael Osswald is the Managing Director of STS Verification International GmbH (“SVI”), a third party verifier performing verifications of ABCP, term ABS and synthetic securitisations for compliance with the “Simple, Transparent, Standardised” (STS) criteria under the European securitisation regulation. He joined SVI in February 2019 and oversees all verification and related corporate activities of SVI across Europe. Michael has extensive securitisation experience both as investor and in the origination and structuring of term ABS, ABCP and synthetic transactions, which he gained from 1998 at Landesbank Baden-Württemberg in Stuttgart and London and subsequently at ABN AMRO Bank in Frankfurt as part of the European ABS team. In 2009, he moved to the transportation finance division of KfW IPEX-Bank and was, prior to joining SVI, Senior Credit Officer at Erste Abwicklungsanstalt in Düsseldorf, where he was responsible for the asset securitisation, infrastructure, aviation and shipping sub-portfolios. Michael holds a degree in business administration from Julius Maximilian University of Würzburg.
Participants
Moritz Küsel, QuantFS
Moritz Küsel has been Managing Director at QuantFS GmbH since September 2024, bringing with him over 10 years' experience in optimising the working capital of international companies through innovative financing structures. In his current position, he develops client-focused solutions for the securitisation of receivables using ABS, as well as synthetic structures for banking partners.
Ingrid York, White & Case
Ingrid practices in the Firm's Capital Markets group in London. She is co-Global Head of White & Case's Financial Institutions Industry Group, as well as the head of the Firm's Global Derivatives Group. Qualified in New York; England and Wales; and New South Wales in Australia, Ingrid supports various sovereign and quasi-sovereign entities and other international clients, including major financial institutions and banks and corporations. Ingrid delivers capital solutions through structured credit with extensive experience in complex transactions. Ingrid's expertise spans a broad range of products, including asset-based financings, sub-participations or synthetic risk participations and derivative products. This includes OTC and structured derivatives, credit linked notes, repackagings, project, leveraged and Islamic finance hedging, strategic equity solutions, transactions for regulatory capital purposes, and the restructuring of such arrangements. Ingrid also regularly advises clients on carbon credit trading and energy transition matters.
Arne Reichel, Aareal Bank
Arne Reichel serves as the Head of Asset Liability Management for Aareal Bank, having joined the bank’s treasury department in 2020. In his current function, his responsibilities include, among others, the bank’s SRT programme and structured finance initiatives. Before moving to Aareal Bank, Arne held positions at UBS and PwC in regulatory advisory and transaction services, respectively. He obtained an undergraduate degree from Goethe University Frankfurt and a master’s degree from Stockholm University.
Frank Benhamou, Cheyne Capital Management
Frank is the Portfolio Manager for Cheyne Capital's Risk Transfer strategy, focusing on transaction origination and assessment, portfolio construction, and capital raising. He plays an active role in SRT regulatory advocacy, maintaining regular dialogue with key regulators—including the PRA, EBA, and the Federal Reserve—and coordinating with all major industry groups.
Prior to joining Cheyne, Frank served as Managing Director and head of Capital and Structured Funding Solutions at Barclays International which he joined in 2006. At Barclays, he led multiple teams across a broad range of securitisation activities, including ABF, non-performing loan (NPL) transactions, and commercial real estate (CRE) securitisations. Notably, under his leadership, Barclays established the Colonnade SRT programme, which became an industry-leading issuance platform. Throughout his career, Frank has advised numerous banks on designing and executing efficient SRT and securitisation solutions.
Frank holds a Master Degree from Ecole Centrale, with a year of specialisation in both Applied Mathematics for Finance and Entrepreneurship, and a postgraduate degree from La Sorbonne University in Financial and Economical Mathematics.
Ph. D. Jonas Bäcklund, Revel Partners
Jonas Bäcklund is CEO and co-founder of Revel Partners, a Stockholm-based structured finance advisory firm specialising in Significant Risk Transfer transactions and asset-backed finance.
With over 25 years of experience in structured credit, Jonas has worked across the full lifecycle of SRT — from originator strategy and regulatory engagement through to structuring, investor distribution and post-closing management. He was instrumental in establishing Nordea's SRT programme, one of the most active in the Nordic region, and has since advised banks and non-bank lenders across Sweden, Norway, Denmark and the Baltic states on capital relief transactions spanning consumer loans, mortgages, BNPL, SME, NPL, and CRE portfolios.
Revel Partners has structured more than 20 SRT transactions across four Nordic jurisdictions, working with first-time issuers as well as established programmes. The firm is shortlisted for European Arranger of the Year at the SCI Risk Sharing Awards 2026, having been nominated and received an honorable mentioning for the same award in 2025.
Jonas holds an MSc and Ph.D. from Uppsala University and was a visiting scholar at the Wharton School. He is a regular speaker at SCI, PCS and other leading structured finance forums, and leads the Balance Sheet Optimisation module at SCI's annual SRT Training for New Market Entrants.
Asset Classes
Leasing & Equipment Finance – Stable Asset Class in Volatile Times?
Moderation
Dr. Martin M. Geiger, HENGELER MUELLER
Dr Martin Geiger joined Hengeler Mueller in 1995 and became a partner in 2000.
He has a long-standing experience of advising banks, private equity funds and corporate clients on a broad range of complex transactions including structured financings, refinancing with commercial mortgage backed securities (CMBS), and real estate financings
His recent work includes the advice of a Swedish truck manufacturer on the secuiritisation of UK lease receivables, a German leasing company on the securitisation of French lease receivables and a German bank on the purchase of lease receivables in several European countries.
Martin Geiger studied law at the University of Munich and the University of Michigan Law School. He is regularly included in the most prestigious rankings on the German law firm market and described as a "Leading Advisor" in Structured Finance.
Participants
Guido Goldmann, BayernLB
Guido Goldmann is Head of Securitisation at BayernLB in Munich. BayernLB is one of Germany’s leading banks in the securitisation of trade, leasing, hire purchase and consumer receivables. The Bank is Germany’s leading refinancing partner of large and medium-sized leasing companies. Guido spend more than 15 years at BayernLB’s London office. He has a breadth of securitisation experience working on single jurisdiction and pan-European transactions. He also worked on various refinancing transactions for European companies. Guido holds an MBA from London Business School.
Jürgen Groth, LBBW
Jürgen Groth ist Director Securitization Loans & Leases im Bereich Corporate Finance Origination der LBBW in Stuttgart. Er ist als Strukturierer und Investor mit der Assetklasse zinstragender Forderungen seit Jahren vertraut.
Herr Groth absolvierte eine Banklehre und studierte BWL an den Universitäten Marburg und Poitiers (Frankreich). Er startete nach der Uni bei ABN AMRO Bank in Frankfurt und wechselte anschließend zu Dresdner Kleinwort Wasserstein. Seit 2002 arbeitet Herr Groth für die LBBW in Stuttgart und hat diverse Transaktionen erfolgreich umgesetzt.
André Weidemeier, PEAC Finance
André Weidemeier joined PEAC Solutions' treasury team in 2022 and is leading its securitization team. He is responsible for all securitization activities within the PEAC Central Europe group including its foreign subsidiaries.
Before joining PEAC Solutions André worked for Philips where he was responsible for rolling out a global asset-based funding infrastructure to facilitate Philips leasing and offloading activities.
André Weidemeier studied Mathematics and Economics and holds a diploma from the University of Hamburg.
Regulation & Technology
Englisch
Tokenisation in Securitisation – Underlying Assets, Value Chain and Digital Euro
Moderation
Dr. Nick Wittek, Jones Day
Dr Nick Wittek is Partner bei Jones Day. He has a unique skill set of combining structured finance, derivatives, and asset management experience with technological innovation. With 20 years of experience, he is a go-to adviser for financial institutions, asset managers, institutional clients and FinTechs to advise on the structuring, regulation, and documentation of structured finance transactions and the use of Distributed Ledger Technology (DLT) and Blockchain in this field and beyond.
He has extensive background working on securitizations (ABS and ABCPs), loan funds, Schuldschein loans, ISDA-based swaps and derivatives, repos, covered bonds, repackagings, MTN-programs, asset-based lending, factoring and supply chain financings, as well as related clearing, settlement and regulatory issues including issuances under the new German law on electronic securities (eWpG).
Nick is part of the Jones Day FinTech task force. He has advised market participants on the use, implementation and regulatory aspects of DLT and Blockchain in the financial and corporate industry sector including (utility and security) token issuances, stable coins and central bank digital currencies (CBDC), trokenization, crypto brokerage, crypto custody, digital assets and digital identities and implications resulting from the draft Markets in Capital Infrastructure Regulation (MiCAR). He has advised on a number of market first and award winning transactions.
Nick is recommended by JUVE for structured finance transactions and by Legal 500 and Chambers for FinTech work. Nick is part of the Platform Industry 4.0 legal working group and co-author of the Industrie 4.0 platform conditions. He has also (co-)authored several articles on securitizations, debt/loan funds and Blockchain.
Participants
Dr. Michael Huertas, PwC Deutschland
Dr Michael Huertas LL.M., MBA, is a Partner with PwC Legal. As the Global & European Financial Services Legal Leader for Europe, the German Practice Group Leader for Bank, Insurance and Investment Law as well as the Head of the Financial Institutions Regulatory Europe (FIRE) Team at PwC Legal he leads a group of multi-disciplinary, multijurisdictional qualified and multilingual professionals who help clients navigate and realise the opportunities in the EU-27 – and notably the eurozone’s regulatory, supervisory and monetary policy framework. Michael specifically advises on the eurozone's Banking Union, the European Central Bank’s monetary policy activity and the EU’s Capital Markets Union workstreams along with the regulatory and supervisory priorities of the European Supervisory Authorities. Michael is also a member of PwC Legal and PwC’s Capital Markets Leadership Team. His structured finance practice focuses on derivatives, securities financing transactions and securitisations.
Viktor Banh, DekaBank
Viktor Banh studied Business Administration at the University of Paderborn and has been with DekaBank since 2009. Within the Capital Markets division, he is responsible for digital asset transactions and supports savings banks, issuers, and investors in the implementation of digital capital market products.
Previously, he worked as Business Manager for the Capital Markets and Treasury divisions, where he gained extensive product and process expertise. Since 2018, he has been supporting DekaBank’s blockchain initiatives and their implementation in specific capital markets transactions – including, for example, Siemens €300 Mio. digital bond and Berlin Hyp’s first blockchain-based Pfandbrief.
Julie Dupont Nedellec, BNY
Julie Dupont Nedellec is a Director at BNY. As Structured Finance Solutions Lead for the UK and EMEA she is responsible for overseeing solutions for clients across the broader structured finance ecosystem in the region.
With 25 years experience structuring ABS and RMBS and delivering Corporate Trust services across structured finance capital markets and private markets, Julie Dupont Nedellec has held senior roles at major financial institutions including BNP Paribas, Lloyds Banking Group, Dresdner Kleinwort, and Nomura, developing deep expertise in the full lifecycle of financial markets debt issuances, from structuring and investments to operations and post-trade infrastructure. Prior to joining BNY she has been focusing on bridging the gap between private markets and fintech solutions, supporting fintech innovation, blockchain and AI solutions to enhance the entire private markets value chain.
Passionate about technology, innovation, and purposeful solutions, Julie holds several board advisory positions and serves as Treasurer on the Board of the London Capital Credit Union, reflecting her commitment to the social dimension of finance.
12:00 - 12:30
Coffee break
12:30 - 13:30
Closing Panel
Deutsch
Europas Finanzsektor - Architektur für die Zukunft
Moderation
Dr. Detlef Fechtner, Börsen-Zeitung
Detlef Fechtner studied politics, economics, history and European studies in Frankfurt and Brussels. After research stays in the USA (Cornell, Harvard), South Africa and Ukraine, he began his journalistic career with the news wire vwd (now Dow Jones Germany). Later, he worked as editor with Frankfurter Rundschau and WAZ media group before he moved to Börsen-Zeitung as Brussels correspondent. From 2021 until 2024, he has been editor-in-chief of Börsen-Zeitung. Today he is its head reporter.
Participants
Prof. Dr. Christoph Kaserer, TU München
Christoph Kaserer is co-director of the Center for Entrepreneurial and Financial Studies (CEFS) and Full Professor of Finance at Technische Universität München (TUM). His area of expertise is corporate finance, financial markets, and asset management. Christoph published his research in leading journals. He is also active as an associate of Oxera Consulting, London, as well as an advisor to private companies, public institutions and Governments. Christoph is frequently appointed as court witness expert in the capital market and valuation area. Since 2016 he serves on different working groups of ESMA. Before joining TUM School of Management, he became Full Professor of Financial Management and Accounting at Université de Fribourg, Switzerland, in 1999. Since January 2025 he serves as the Dean of TUM School of Management; he already held this position from 2005 to 2010. This school is regularly ranked among the top European management schools.
13:30 - 14:30
Lunch break
Supporting Programme
15:00 - 17:00
Session
Exclusive Spree River Cruise for the 20th TSI Congress
TSI Congress 2026 - The Event for Asset Based Finance
Timetable
01.10.2026
08:00 - 10:00
Registration
10:00 - 11:15
Charlottenburg / Spandau Groundfloor
Opening Panel
EU Capital Markets and Banking Regulation – Competitive at Global Scale?
Keynote
Dr. Bettina Orlopp, COMMERZBANK
Moderation
Susanne Matern, Fitch Ratings Ltd.
Participants
Souad Benkredda, DZ BANK
Jayee Koffey, BNY
Dr. Volker Treier, DIHK
11:15 - 12:00
Coffee break
12:00 - 13:00
Charlottenburg / Spandau Groundfloor
Investor Kick-off
Where are Public ABS Markets heading to?
Moderation
Heike Hoehl, ING Bank
Participants
Christian Aufsatz, Morningstar DBRS
Foyer Alexanderplatz DomLounge 7th Floor
Asset Classes
Trade Receivables & ABCP – Finanzierung der Realwirtschaft
Moderation
Sandra Wittinghofer, Baker McKenzie
Participants
Dr. Sahra Demirbilek, Ashurst Perkins Coie
Sascha Chevalier, LBBW
Constanze Schmidt, Maples Group
Nicolas Kipp, Credibur Gmbh
Sebastian Böhm, DZ BANK
Nikolai 2 DomLounge 8th Floor
Regulation
Luxembourg Securitisation Hub – Trends
Moderation
Andreas Heinzmann, GSK STOCKMANN
Participants
Zamyra H. Cammans, Circumference FS
Holger von Keutz, PricewaterhouseCoopers
Frank Mausen, A&O Shearman
Michele Barbieri, CSC
Arkadiusz Arek Kwapien, Cafico International
Nikolai 3 DomLounge 8th Floor
Asset Classes
Residential Mortgage Securitisation – Between Covered Bonds and Portfolio Transactions
Moderation
Claire-Marie Mallad, White & Case
Participants
Olga Kashkina, ING Bank
Jens Tolckmitt, vdp
Ruben van Leeuwen, DMFCO
Ulf Kreppel, Jones Day
13:00 - 14:30
Lunch break
13:30 - 14:15
Foyer Alexanderplatz DomLounge 7th Floor
Lunch Special
AI – Tectonic Shift and Impact on the Financial Industry
Participants
Anika Oberbillig, Maples Group
Aleksander Kling, European DataWarehouse
Kwaku Owusu-Oware, HTW Berlin (University of Applied Sciences)
14:30 - 15:30
Charlottenburg / Spandau Groundfloor
Market Trends
Private Credit: Finanzstabilität durch Diversifikation?
Keynote
Michael Theurer, Deutsche Bundesbank
Moderation
Dr. Stefan Henkelmann, A&O Shearman
Participants
Dr. Dennis Heuer, White & Case
Prof. Dr. Sascha Steffen, Frankfurt School of Finance & Management
