CMCAS Presents:

Trade Wars, Geopolitical Risk and Country Risk:

Key Considerations for Risk Professionals


Tuesday, October 30th 2018

Societe Generale, 245 Park Avenue, 5th Floor, Town Hall, New York, NY

Check-In: 5:15pm-5:45pm, Panel Discussion: 5:45pm - 7:00pm, Cocktail Reception 7:00pm-8:00pm




The 2017-2018 timeframe has been an intense period for global markets - equity markets continue to be strong, but with QE slowly reversing and geopolitical changes on the horizon in many parts of the world, global markets face several potential head winds in 2019. Trade protectionism and other topics on Country Risk are a key theme in current discussions in financial markets and among Risk professionals. CMCAS's timely fall program will address these themes and their implications. Our invited panelists play senior roles within the Risk, Ratings, Portfolio Management and Strategy areas across the street.
Panelists will be invited to discuss questions on topics including:
  • Trade Wars: How will trade protectionism/tariffs play out across the globe and affect markets and growth? Which countries/regions will be most impacted?  
  • Geopolitical Risks: What do panelist see as key geopolitical risks? Given the emerging macroeconomic outlook and geopolitical risk picture,  how do they think this feeds into market volatility?
  • Ratings and broad market Impact: How will these factors impact ratings? How will they impact fundamental factors such as economic growth/recessionary trends?
  • Practical Impact to Risk professionals: What implication would these themes have for industries/sectors that capital market credit professionals are focused on?
Confirmed Speakers:
Joyce Chang, Global Head of Research, J.P. Morgan
Joyce Chang is the Global Head of Research and a member of the management committee for J.P. Morgan's Corporate & Investment Bank. J.P. Morgan's analysts and economists study all sectors in which the firm does business, including equities, fixed income, currency and commodities, emerging markets, derivatives and structured finance. J.P. Morgan's 920 research professionals are located in 26 countries and provide economic forecasts for more than 60 countries and analyze nearly 3,600 stocks and 1,100 credits worldwide. The Global Research team has been named the top global research firm for 2017 by Institutional Investor, with 141 analysts/teams ranked first, second or third and 79 runners-up.
From 1997 through 2012, Joyce held top rankings in Institutional Investor for Emerging Markets research, earning 25 #1 individual rankings. In 2014, she was inducted into the Fixed Income Analyst Society Hall of Fame. Joyce was a Managing Director at Merrill Lynch and Salomon Brothers prior to joining J.P. Morgan in 1999.
She serves on the Board of Directors of Trickle Up and Girls Inc. and is a member of the Council on Foreign Relations and the Inter-American Dialogue. She serves as senior sponsor for the Corporate and Investment Bank Women's Network, the network for employees of Asian heritage (AsPIRE) and Nonprofit Board Service.
She has been named as one of Top 25 Most Powerful Women in Finance by American Banker since 2013. Joyce received her B.A. from Columbia and serves on its Board of Visitors. She earned a Master of Public Affairs from Princeton and serves on its External Advisory Council for the Center for Public Policy and Finance.
Bart Oosterveld, C. Boyden Gray Fellow and Director, Global Business and Economics Program, Atlantic Council
Bart Oosterveld is the C. Boyden Gray fellow on global finance and growth and the director of the Global Business & Economics (GBE) Program at the Atlantic Council. In this capacity, Mr. Oosterveld leads the Council's work on global trade, growth, and finance. Among many other things, the GBE program houses the EuroGrowth Initiative at the Council and leads the Council’s work in the areas of economic sanctions, finance and trade, and provides timely commentary on macro-economic and financial market developments.

Prior to joining the Atlantic Council in November 2017, Mr. Oosterveld worked at Moody’s Investors Service for almost two decades. In his most recent role as chief credit officer, Mr. Oosterveld was responsible for the credit strategy and ratings quality in the Americas across all asset classes. Between 2010 and 2014, Mr. Oosterveld served as the rating agency’s global head of sovereign ratings. Among other positions, he was also chair of the company’s Macroboard, its chief credit officer for governmental ratings, as well as management representative to the board of directors.  


Mr. Oosterveld graduated with degrees in the philosophy of law and the history of Spanish literature from the University of Amsterdam. He holds master’s degrees in public policy from Columbia University and in economics from Georgetown University. He speaks Dutch, Spanish, English, German and French.

Alexander (Sandy) Wolfson, Managing Director and Head of Global Country Risk Management, Citigroup
Sandy Wolfson is the Managing Director and Head of Global Country Risk Management (GCRM). Responsible for assessing and managing country risk across Citi's global franchises, setting limits on economic risk capital and cross border exposure, and running the Country Risk Committee which reviews Citigroup's largest country franchises. GCRM also prepares the economic forecasts used in firm-wide strategic planning and stress testing exercises.
Prior to joining Citigroup, he worked as an economist at the International Monetary Fund (1999-2005), working primarily on Indonesia and Japan.
He holds a Ph.D. in economics from the Massachusetts Institute of Technology.



Katherine Weber, Head of Americas, Country Risk, Fitch Solutions
Katherine Weber leads a team of Country Risk analysts responsible for political and economic research for the Americas region. Prior to her current role, Katherine was a member of Fitch Solutions' Country Risk team for Latin America. She joined Fitch Solutions in 2011 and is based in New York. Prior to joining Fitch Solutions, Katherine worked as a researcher for the Center for European Policy Analysis in Washington, D.C. She holds a Masters in International Relations and International Economics from the Johns Hopkins School of Advanced International Studies and a BA in International Affairs from Skidmore College. She regularly speaks to clients, industry professionals and the media. Recent speaking engagements include the Peterson Institute for International Economics, Markets Group Private Equity Americas Forum and TXF Americas. She has been quoted in publications such as the Financial Times, Bloomberg and MarketWatch.


Thank you to our 2018 PLATINUM SPONSOR: Fitch Solutions
Thank you to our 2018-2019 GOLD SPONSOR: Credit Benchmark




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