List of speakers

Christine Lagarde

Since November 2019, Christine Lagarde has been the President of the European Central Bank. Between 2011 and 2019, she served as the Managing Director of the International Monetary Fund (IMF). Prior to that she served as French Economic Finance Minister from 2007 to 2011 after having been Trade Secretary from 2005 to 2007. A lawyer by background, she practiced for 20 years with the international law firm Baker McKenzie, of which she became global chairman in 1999. In all such positions, she was the first woman to serve.

In 2020, Lagarde was ranked the second most influential woman in the world by Forbes and has been named by TIME as one of the 100 most influential people in the world. Christine Lagarde was named Officier in the Légion d'honneur in April 2012 and Commandeur dans l’ordre national du mérite in May 2021.

Daron Acemoglu

Daron Acemoglu an Institute Professor at MIT and an elected fellow of the National Academy of Sciences, American Philosophical Society, the British Academy of Sciences, the Turkish Academy of Sciences, the American Academy of Arts and Sciences, the Econometric Society, the European Economic Association, and the Society of Labor Economists. He is also a member of the Group of Thirty.

He is the author of five books, including New York Times bestseller Why Nations Fail: Power, Prosperity, and Poverty (joint with James A. Robinson), Introduction to Modern Economic Growth, and The Narrow Corridor: States, Societies, and the Fate of Liberty (with James A. Robinson).

His new book, Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity (joint with Simon Johnson), will be published May 2023.

His academic work covers a wide range of areas, including political economy, economic development, economic growth, technological change, inequality, labor economics and economics of networks.

Daron Acemoglu has received the inaugural T. W. Shultz Prize from the University of Chicago in 2004, and the inaugural Sherwin Rosen Award for outstanding contribution to labor economics in 2004, Distinguished Science Award from the Turkish Sciences Association in 2006, the John von Neumann Award, Rajk College, Budapest in 2007, the Carnegie Fellowship in 2017, the Jean-Jacques Laffont Prize in 2018, the Global Economy Prize in 2019, and the CME Mathematical and Statistical Research Institute prize in 2021.

He was awarded the John Bates Clark Medal in 2005, the Erwin Plein Nemmers Prize in 2012, and the 2016 BBVA Frontiers of Knowledge Award.

He holds Honorary Doctorates from the University of Utrecht, the Bosporus University, University of Athens, Bilkent University, the University of Bath, Ecole Normale Superieure, Saclay Paris, and the London Business School.

Claudio Borio

Claudio Borio was appointed Head of the Monetary and Economic Department on 18 November 2013.

At the BIS since 1987, Mr Borio has held various positions in the Monetary and Economic Department (MED), including Deputy Head of MED and Director of Research and Statistics as well as Head of Secretariat for the Committee on the Global Financial System and the Gold and Foreign Exchange Committee (now the Markets Committee). From 1985 to 1987, he was an economist at the OECD, working in the country studies branch of the Economics and Statistics Department. Prior to that, he was Lecturer and Research Fellow at Brasenose College, Oxford University. He holds a DPhil and an MPhil in Economics and a BA in Politics, Philosophy and Economics from the same university. Claudio is author of numerous publications in the fields of monetary policy, banking, finance and issues related to financial stability.

Fields of interest:

• Monetary economics and policy
• Financial stability
• Banking and finance

Pablo Hernández de Cos

Pablo Hernández de Cos is Governor of the Banco de España and member of the Governing and General Council of the ECB. He is Chair of the BCBS and of the Advisory Technical Committee of the ESRB. He is member of various European and International Committees including the ESRB, the FSB, the BIS Group of Governors and Heads of Supervision, the Advisory Board of the FSI and the CEMLA. He is also Vice-Chairman of the Board of the Spanish Macroprudential Authority Financial Stability Board (AMCESFI).

Prior to his current position he was Director General for Economics, Statistics and Research of the Banco de España, headed its Economic Policy Analysis Division, worked as an adviser to the ECB’s Executive Board and as an Economist of the Banco de España.

He holds a PhD in Economics (Complutense University, Madrid), a degree in Economics and Business Studies (CUNEF) and a degree in Law (UNED).

Stefan Ingves

Stefan Ingves is Governor of Sveriges Riksbank and Chairman of the Executive Board.

Governor Ingves holds the position of Vice Chairman of the Board of Directors of the BIS and is the Chair of the BIS Banking and Risk Management Committee (BRC).

Mr. Ingves is also a Member of the General Council of the ECB and First Vice Chair of the European Systemic Risk Board (ESRB).

Governor Ingves is also Governor for Sweden in the IMF, Board Member of the Nordic-Baltic Macroprudential Forum (NBMF) and Chairman of the Toronto Centre for Global Leadership in Financial Supervision.

Mr. Ingves has previously been Chairman of the Basel Committee on Banking Supervision, Director of the Monetary and Financial Systems Department at the IMF, Deputy Governor of the Riksbank and General Director of the Swedish Bank Support Authority. Prior to that he was Head of the Financial Markets Department at the Ministry of Finance.

Stefan Ingves holds a PhD in economics.

Alfred Kammer

Alfred Kammer is the Director of the European Department at the International Monetary Fund since August 2020. In this capacity, he oversees the IMF’s work with Europe.

Mr. Kammer was previously the Chief of Staff of the Office of the Managing Director, advising the Managing Director on strategic and operational issues and overseeing operations for the senior management team; Deputy Director of the Strategy, Policy and Review Department, overseeing the work on Fund strategy and surveillance policy; Deputy Director of the Middle East and Central Asia Department, overseeing regional economic developments and financial sector issues; Director of the Office of Technical Assistance Management, advising management on technical assistance operations and overseeing fundraising and global partnerships for capacity building; and Advisor to the Deputy Managing Director. Mr. Kammer also served as resident representative of the IMF in Russia. Since joining the IMF, Mr. Kammer worked with countries in Africa, Asia, Europe, and the Middle East, and on a wide range of policy and strategic issues.

Michael Leibrock

Michael Leibrock is a Managing Director in DTCC’s Financial and Operational Risk Management division based in Jersey City.  In Mr. Leibrock’s capacity as head of DTCC’s Counterparty Credit Risk function he oversees the analysis, approval and ongoing credit surveillance for all members of DTCC’s clearing agencies.  Mr. Leibrock also serves as DTCC’s Chief Systemic Risk Officer, responsible for the identification and monitoring of potential systemic threats to DTCC and the securities industry. In this capacity Mr. Leibrock actively engages with DTCC clients, regulators and other stakeholders on systemic risk topics. He also serves as co-chair of DTCC’s Systemic Risk Council and is a member of the Management Risk Committee and Model Risk Governance Committee.

Prior to joining DTCC in 2011, Mr. Leibrock’s career in risk management spanned over twenty years during which he held senior risk management roles at several firms including Chief Counterparty Risk Officer at Fannie Mae and Head of Financial Institutions Credit at Commerzbank A.G.

Michael holds a Doctorate in Finance and International Economics from Pace University’s Lubin School of Business and a M.B.A. in Finance from Fordham University.  He is a Lecturer in Columbia University’s M.S. program in Enterprise Risk Management and co-authored a 2017 book titled “Understanding Systemic Risk in Global Financial Markets” (Wiley Finance).

Nellie Liang

Nellie Liang was confirmed as the Under Secretary for Domestic Finance at the U.S. Treasury Department on July 15, 2021. Prior to serving at Treasury, Liang was a Senior Fellow in Economic Studies at the Brookings Institution. She also was a Visiting Scholar at the International Monetary Fund’s Monetary and Capital Markets Department, Lecturer at the Yale School of Management, and a member of the Congressional Budget Office’s Panel of Economic Advisors. Over three decades at the Board of Governors of the Federal Reserve System, Liang held a range of positions, including as the first Director of the Division of Financial Stability from 2010 to 2017. In that position, she oversaw the development of financial stability policies related to risks in financial firms and financial markets, and interactions of financial policies with monetary policy. Her recent research has focused on the financial system and macroeconomic growth. Liang received a Ph.D. in economics from the University of Maryland and a B.A. in economics from the University of Notre Dame.

Andréa Maechler

Andréa M. Maechler was born in Geneva in 1969. She studied economics at the University of Toronto, and then at the Graduate Institute of International Studies in Geneva, where she obtained her Master's in International Economics. Following a period of study at the Institute of Advanced Studies in Public Administration in Lausanne, she obtained her PhD in International Economics from the University of California, Santa Cruz in 2000.

Andréa M. Maechler's early career took her to the Organisation for Economic Co-operation and Development (OECD), the United Nations Conference on Trade and Development (UNCTAD) and the World Trade Organization (WTO). From 1999 to 2001, she worked as an economist in the Swiss National Bank's (SNB) Financial Stability unit in Zurich. She then moved to the International Monetary Fund (IMF), where she occupied a number of senior positions in the Africa, Monetary and Capital Markets, Western Hemisphere and Strategy, Policy and Review departments. From 2012 to 2014, during a sabbatical from the IMF, she worked for the European Systemic Risk Board (ESRB) in Frankfurt. Upon returning to the IMF, she was appointed as Deputy Division Chief in the Global Markets Analysis Division. The functions of this division include monitoring global capital markets, and assessing systemic risks and the macrofinancial impact of capital market developments.

With effect from 1 July 2015, the Swiss Federal Council appointed Andréa M. Maechler as Member of the SNB's Governing Board - the first woman to occupy a Board position. At the same time, she became Head of Department III (Money Market and Foreign Exchange, Asset Management, Banking Operations, Information Technology).

Andréa M. Maechler is a member of the Advisory Board of the Department of Banking and Finance at the University of Zurich.

Francesco Mazzaferro

Francesco Mazzaferro has been the Head of the Secretariat of the European Systemic Risk Board (ESRB) since January 2011. Prior to that, he was the Project Manager of the ESRB Preparatory Secretariat, which started work in March 2010.

He began his career in financial research in the Research Department of the Istituto Bancario San Paolo di Torino (today part of Intesa Sanpaolo) in Turin, Italy, in 1987. He joined the European Commission in Brussels, Belgium, in 1992, starting his international career in the Directorate General for Economic and Financial Affairs, where his work focused on the European Currency Unit and preparations for the introduction of the single currency. In 1995 Mazzaferro joined the European Monetary Institute – which later became the European Central Bank – in Frankfurt am Main, Germany, as the Officer of Policy Planning. In 1998 he became the Senior European Relations Officer in the European Relations Division. From 2000 he worked as Principal in the EU Neighbouring Regions Division, becoming the Head of Division in 2003.

Mazzaferro studied law at the University of Bologna and wrote his Master’s thesis on “EU law and legal aspects of the euro”.

Francesco Mazzaferro has been working in the field of European monetary policy for almost 20 years. Currently he is the Head of the ESRB Secretariat.

Lucrezia Reichlin

Lucrezia Reichlin is Professor of Economics at the London Business School. She is a macroeconomist and econometrician. She has pioneered methods for the economic analysis of large dimensional data and now-casting. She was director general of research at the European Central Bank from 2005 to 2008. Professor Reichlin is a Fellow of the British Academy and of the Econometric Society and she is honorary international fellow of the American Economic Association. She is a trustee of the International Financial Reporting Standard (IFRS) Foundation, and she has led the work of the Foundation for the establishment of the International Sustainability Standards Board. She is also a trustee of the Centre for European Policy Research, a board member of several research institutions and of a few commercial companies.

Ricardo Reis

Ricardo Reis is the A.W. Phillips Professor of Economics at the London School of Economics. Recent honors include the 2002 Carl Menger prize, the 2021 Yrjo Jahnsson medal, election fo the Econometric Society in 2019, the 2017 BdF/TSE junior prize, and the 2016 Bernacer prize. Professor Reis is an academic consultant at the Bank of England, the Riksbank, and the Federal Reserve Bank of Richmond, he directs the Centre for Macroeconomics in the UK, and he serves on the council or as an advisor of multiple organizations. He has published widely on macroeconomics, including both monetary and fiscal policy, inflation and business cycles. Professor Reis received his PhD from Harvard University and was previously on the faculty at Columbia University and Princeton University.

Cecilia Skingsley

Cecilia Skingsley became Head of the BIS Innovation Hub in September 2022. She is a member of the BIS's Executive Committee. Previously, she held the position of First Deputy Governor of the Riksbank since November 2019.

Most recently she chaired the BIS's Committee on Payments and Market Infrastructures Future of Payments Working Group, was the Governor of the Riksbank’s alternate on the General Council of the ECB and member of the Advisory Technical Committee (ATC) of the European Systemic Risk Board (ESRB).

Prior to holding the position of Deputy Governor of the Riksbank from May 2013 to November 2019, Ms Skingsley held various roles including Head of FX and Fixed Income Research and Chief Economist at Swedbank (2007-2013); financial journalist and Head of Financial Market Section at Dagens Industri (2000-2007); Macro Analyst, ABN Amro Bank (1998-2000).

Ms Skingsley holds a degree in economics and political science from Stockholm University. She received a financial analyst degree from SSE Executive Education at Stockholm School of Economics (formerly IFL at Stockholm School of Economics) and studied journalism at Poppius School of Journalism in Stockholm.

Xavier Vives

Xavier Vives is professor of Economics and Finance at IESE Business School. He holds a Ph.D. in Economics from UC Berkeley.

Fellow of the Econometric Society since 1992; of the European Economic Association since 2004; and of the Academia Europaea since 2012. President of the European Association for Research in Industrial Economics for 2016-2018 and current Vice-president of the European Finance Association. He has taught at INSEAD, Harvard University, Universitat Autònoma de Barcelona, Universitat Pompeu Fabra, UC Berkeley, University of Pennsylvania, and New York University.

His fields of interest are industrial organization and regulation, banking, and financial economics. He has published more than a hundred articles in the main international journals and several books, the most recent being Competition and Stability in Banking. He is currently co-editor of JEMS and former editor of JET and JEEA.

Dr. Vives has served as advisor for the World Bank, the Inter-American Development Bank, the European Commission, the Federal Reserve Bank of New York, as well as for international corporations. Duisenberg Fellow of the European Central Bank in 2015 and recipient of the European Research Council Advanced Grant in 2009-2014 and 2018-2023. In 2011-2014 he was Special Advisor to the EU Commissioner for Competition, Mr Joaquín Almunia.