London Training Series

Dr Nicola Brink is the Head of the Financial Stability Department of the South African Reserve Bank (SARB). She has extensive central banking experience, having spent her career in several departments of the SARB, including the Economic Research Department, the Bank Supervision Department (now the Prudential Authority), and the Financial Markets Department.

In recent years, she has played a key role in the process to bring South Africa’s resolution framework for failing financial institutions in line with international standards. She represents the SARB in various external and international committees, including the Financial Stability Board’s Resolution Steering Group and Assessment of Global Vulnerabilities Group. Her qualifications include an Honours degree in Communication Science, a PhD in Economics and an MBA degree (cum laude). 

She has published a number of domestic and international research papers, mainly focusing on the management of market liquidity by the SARB through its operations, both in normal and crisis times. 

Economist by education, central banker by heart. Throughout his 25+ year career in central banking, Mugur Tolici has held numerous roles in both core and enabling functions within the National Bank of Romania, ranging from head of monetary policy division, adviser to the deputy governor, head of the governor's office, deputy director of cash department and his most recent tenure as HR director. In this role, he has successfully lead one of the most transformational projects of the bank, implementing a new people management system aligned to international best practices and centered on bringing to the forefront NBR’s values: integrity, commitment, performance and cooperation. His career also includes international experiences, most recently the International Monetary Fund in Washington DC, serving as a Senior Adviser for the Executive Director (Dutch-Belgium Constituency).

Passionate for teaching, he also has a rich academic experience as lecturer at the Bucharest University of Economic Studies and National University of Political Studies and Public Administration.

John Fell is Deputy Director General for Macroprudential Policy & Financial Stability in the ECB. He is also the chair or co-chair of several international working groups - including the Eurosystem’s Macroprudential Policy Group (MPPG), the European Systemic Risk Board’s (ESRB) Instrument Working Group (IWG), and the ESRB’s task force on stress-testing. He is a member of the ECB’s Financial Stability Committee (FSC), the ESRB’s Advisory Technical Committee (ATC), and the Financial Stability Board’s Standing Committee on Assessing Vulnerabilities (SCAV). He led the stress-testing work for the ECB’s “comprehensive assessment” in 2014 as well as EU-wide banking sector stress-tests coordinated by the Committee of European Banking Supervisors (CEBS) (2009, 2010) and the European Banking Authority (EBA) (2011, 2014). His crisis management experience is extensive, including negotiating EU/IMF financial assistance programs in several euro area countries (e.g. in Ireland, Portugal and Spain). Between 2003 and 2010, he was Head of the ECB’s Financial Stability Division, spearheading the inaugural issue of the ECB’s Financial Stability Review in 2004 and directing it thereafter. Before moving to the financial stability area in 2003, he was an Adviser in the ECB’s Monetary Policy Directorate. Prior to joining the ECB in 1998, as a principal economist, he held various positions at the European Monetary Institute (EMI) and the Central Bank of Ireland. John holds postgraduate degrees in Economics (1987) and in Finance (1993) from University College Dublin and Dublin City University respectively, and is a PhD candidate at the Rotterdam School of Management, Erasmus University. He has published his research in several academic and policy journals.

María J. Nieto (PhD) is a Visiting Senior Fellow at the London School of Economics (Grantham Research Institute), Member of EBI and former Senior Advisor at Bank of Spain. She is author of numerous peer-reviewed articles (Journal of Banking and Finance, Journal of Financial Stability, Journal of International Financial Markets, Institutions and Money among others). She has cooperated as advisor with the International Monetary Fund and the Federal Reserve Bank of Atlanta for over 10 years and she serves on the advisory boards of the Journal of Financial Regulation and Compliance, the Journal of Financial Regulation, the Central Banking Training Advisory Board (UK) and the Institute of International Monetary Economics (UK). She has a PhD from University Complutense de Madrid, an MBA in finance from the University of California, Los Angeles (UCLA), and is a Certified Public Accountant (CPA)

I am deputy head of Finance & Strategy and heading the Strategic planning, organization and Innovation management units within the National Bank of Belgium. Prior joinging the National Bank of Belgium in 2018, I worked 8 years at EY managing major transformation within the Financial Sector. Prior to that I worked for the United Nations in Mozambique (2010-2011) Accenture Consulting (4 years). I used to start in the Belgium army as Officer. My education: Master in International Relations, specialized in Ethnic Conflict resolution (University of Brussels & University of London) and Master in Business (Solvay Business School in Brussels).

Dave Tighe is an experienced professional in regulation, fintech, and banking. Currently serving as the Innovation Strategy Manager at Central Bank of Ireland. As a member of the Innovation Strategy and Policy Team, Dave has been responsible for the development of the Innovation Hub and Innovation Sandbox Programmes for the Central Bank of Ireland. Previously, David held various roles at KPMG Ireland in management consulting and spent a significant tenure at Bank of Ireland, where responsibilities included Director of CX and Innovation, Head of Enterprise and Innovation, and multiple product management positions in retail banking. David's educational background includes a Chartered Banker degree from IOB, MBA from Manchester Business School and English degree from Trinity College Dublin.

Anjeza Beja is an experienced financial sector expert currently working as an independent international consultant on central bank issues. She has provided technical assistance to more than 20 countries for the International Monetary Fund related to IFRS implementation and capital adequacy for central banks. She has also worked with the World Bank and Alliance for Financial Inclusion on projects related to payment systems and payment services. Currently, she is working as a Digital Financial Services Lead in Albania for International Finance Corporation.

Previously she spent 12 years with the Bank of Albania, 5 of which as Director of Payments, Accounting and Finance where, among other things, she was in charge of IFRS and IFRS 9 implementation. Before that she worked in the Supervision Department in several managerial positions.

She holds a PhD in Economics from University of Tirana and has a bachelor in Finance, Banking and a bachelor in Law. She has also completed a Leadership Program in Financial Inclusion from Fletcher School at Tufts University.

Oliver Hässig is the Deputy Head of the Investment Policy Team in the risk management unit of the Swiss National Bank (SNB). He joined the SNB in October 2008. Since then, he has had different roles in the investment process for SNB’s foreign exchange reserves.

Starting as a quantitative analyst, he was mainly responsible for developing the quantitative tools necessary to conduct the analyses for the Strategic Asset Allocation. In 2019, he officially became the Deputy Head of SNB’s Investment policy.

He and his team are not only involved in SNB’s Strategic Asset Allocation decisions but also advise the Governing Board regarding SNB’s provision and distribution policy. In this role, he and his team are concerned about overall balance sheet stability and conduct different analyses and simulations regarding the development of SNB’s balance sheet.

He holds a master’s degree in Mathematical Finance from the University of Constance, Germany, and is a CFA® charterholder from the CFA Institute.

Dr. Stefanie Herbst holds a doctorate in chemistry and, together with her team at the Deutsche Bundesbank, is responsible for banknote production, banknote quality assurance and banknote development. Mrs. Herbst was involved in the “Cash of the future” study and is also supporting the development of a possible new Euro banknote series.

Homero is the Director of the Statistics Department at the Banco de Portugal (Bank of Portugal). He has more than 20 years' experience working as central banker, having worked also for the Bank for International Settlements (BIS), in Switzerland. Currently he represents Banco de Portugal at different European Central Bank forums, namely the Statistics Committee. He is also the Chairperson of the ESCB Program Steering Group of the Integrated Reporting Framework (IReF) project. At national level, Homero is a member of the Statistics Council, the national body that oversees and coordinates the National Statistical System, bringing together statistical and government authorities, business representatives and academia. Prior to serving as Director, Homero was also responsible for the Monetary and Financial Statistics Division, where central bank balance sheet statistics  are compiled for economic analysis purposes. Homero holds a bachelor’s degree in economics and a master’s degree on applied econometrics.

I am someone who spent the first half of his professional life at banks’ internal audit, Operational/Cyber Risk and Compliance domains. In the second half of my professional life, I re-invented and developed myself towards a FinTech innovator and change facilitator.

Prior to joining the National Bank of Georgia (NBG) where my focus is a Countrywide FinTech, Open Finance strategy and regulatory design, I held senior positions at banks in Georgia and in Ukraine, and served on the management board of a leading retail bank (Liberty) in Georgia.

I am passionate about the Strategic Transformation of Central Bank to “Fit” the new paradigm of Open Finance.

Master’s degree from London Business School (LBS) specialized in Strategy and Leadership, combined with the domain experience allows me to see and suggest the efficient digitization strategies through industry development lenses.

Most recently, my team and I came up with the concept of “FinTech in Georgia; building on the Middle Corridor Momentum".

Joel Gujral is 31 years old and the Founder & CEO of a mental health company MYNDUP. Joel founded the company in April 2019 after his own mental health battle due to an undiagnosed gut condition and he struggled to access support when working at a global finance company that offered counselling. He then set up MYNDUP to stop the one size fits all approach to mental health and also change the way organisations were dealing with this by removing all barriers to care. 

Joel bootstrapped the company with £105 and then subsequently raised £5m. MYNDUP is now servicing employees in 50 countries with brands like Monzo, Dentons, Savills, CVC & The Princes Trust. 

Joel has won several awards during his entrepreneurial journey including:

• Winner of the Barclays Start-up Entrepreneur of the Year Award
• Winner of the London Stock Exchange Group Entrepreneurship Programme
• Top 100 Asian Stars in UK Tech 2023 listed as a top 5 UK startup

Carmen is Professor in Practice and the Executive Director of the Transition Pathway Initiative Centre (TPI Centre), which she joined in May 2023.

Carmen leads on setting and delivering the TPI Centre’s strategy, as well as overseeing its research and operations. The TPI Centre conducts independent, authoritative research and offers open-access data to support investors and policy makers in the transition to a low-carbon economy. It is part of the Grantham Research Institute on Climate Change and the Environment.

Carmen is a macroeconomist with over 20 years of experience in economic and market analysis research in the financial industry on the sell-side. She started her career as a sovereign analyst in the research department of Salomon Brothers in 1993, with subsequent roles at Citigroup and Morgan Stanley, and a stint in the not-for profit ShareAction. During her time in investment banking, Carmen contributed to regular flagship bank publications, and supported in-house and external clients across a range of financial assets, with high-frequency data forecasting, economic, scenario and policy analysis.

Prior to joining the TPI Centre, Carmen was Head of Fixed Income, in the Investment Practice department at the United Nations-supported Principles for Responsible Investment (PRI). She was responsible for the workstreams aiming at incorporating environmental, social and governance (ESG) considerations in sovereign, sub-sovereign, securitised products and private debt instruments, as well as leading on the ESG in credit risk and ratings initiative, one of the largest PRI’s investor collaborative programmes. 

Carmen holds a Laurea cum laude in ‘Political Science’ (major economics) from La Sapienza University in Rome and a Ph.D. in ‘Capital Markets and Business Finance’ from the University of Bergamo. During her Ph.D course, she was a visiting scholar at the N.Y.U Stern Business School.

Komitas Stepanyan is a seasoned professional with over 20 years of experience, specializing in technology, information, and cybersecurity. Currently serving as the Director for Technology, Information, and Cybersecurity at the Central Bank, he plays a pivotal role in driving digital transformation initiatives both within the institution and at a national level. 

With a background spanning more than 13 years in the Internal Audit department, Komitas has held various leadership positions, including deputy chief audit executive and head of the IT audit division. He possesses extensive knowledge and expertise in international best practices and standards such as ISO27001 series, ISO 22301, COBIT, COSO ERM, NIST cybersecurity framework, and FFIEC cybersecurity maturity model. 

His expertise extends to collaborating with the IMF and the World Bank as an expert in IT/Info/cyber governance, risk management, regulation and supervision, and public sector GovTech activities and digital transformation. 

Komitas is actively engaged in international programs and forums, having presented at numerous events across the USA, Europe, Middle East, Asia, Africa, and post-Soviet countries. He also shares his knowledge and expertise as an adjunct professor at the American University of Armenia and French University of Armenia. 

Komitas holds a PhD degree in applied physics and is certified in CRMA, CRISC, and COBIT.

Ed Dew is a Senior Manager at the Bank of England, responsible for Wholesale Cash Oversight. He has been at the Bank of England for over 20 years, holding Senior Manager positions in Banknote Analysis, as well as Operational Risk and Resilience, prior to his current role. Before joining the Bank of England, Ed earned an MSc in Economics from the University of Southampton.

Michael Reusens is the head of the Data Science Center at the National Bank of Belgium. He holds a Masters degree in Computer Science Engineering and a PhD in Business Economics from KU Leuven, Belgium. Michael has over 10 years of experience in the domain of data science and artificial intelligence. Michael has worked as a researcher, hands-on data scientist and data science lead focusing on public sector organizations.

Camilla Pegg is a manager in the Wholesale Cash Supervision team, responsible for the design and implementation of the Bank's market oversight of the wholesale cash distribution market.  Camilla spent her early career in financial services regulation and undertook a number of associate roles at the Financial Services Authority (FSA) before transferring to the Bank of England in 2013 with the integration of the Prudential Regulation Authority (PRA).

David Brinkman is a principal legal counsel in the DG Legal Services of the European Central Bank, in the Supervisory Law Division. David advises on banking supervision issues with a focus on climate-related risk as well as innovation and artificial intelligence. David is part of the Legal Services TechGroup and has a coordinating role regarding digitalisation. Before his time at the ECB, David has worked as an attorney-at-law in a large Dutch law firm. He has been an in house-counsel for a listed bank insurance conglomerate and has worked as a supervisor for the Dutch Central Bank, in the Market Access Department. David holds a master’s degree in law from the University of Amsterdam.

Experienced FinTech R&D Specialist focused on turning complex digital finance concepts into actionable projects and regulatory frameworks. At the National Bank of Georgia, I’ve co-led key initiatives such as the CBDC pilot project and contributed to the development of the smart contract regulatory framework, implementation of open banking, launching and reviewing submissions in the tokenization sandbox, and structuring the national FinTech strategy.

Varshaa Kutik joined BIS on 1 March 2022 as their first Diversity and Inclusion adviser. She has 18 years of experience in the D&I space and has worked across several industries. Prior to joining the BIS she was the APAC LEAD for D&I for Bank of America based in HK. Across her career she led D&I for the APAC & EMEA regions for Cargill, a Minnesota-based global leader in trading and distributing agricultural commodities. She also held a global role in Cargill driving learning, talent management, and D&I for one of Cargill’s 5 global businesses for over a year and was based in Minneapolis. Before Cargill, she was employed with Goldman Sachs in India and led their D&I efforts. She started her career in the ESG space and was responsible for the publication of the first Sustainability Report for Infosys, an Indian multinational corporation that provides business consulting, information technology, and outsourcing services. Varshaa has a master’s degree in Globalization and Development from Warwick University in the UK. She has lived and worked in 5 countries (India, UK, US, Singapore & Hong Kong) and she is currently based in Basel Switzerland.

Guillaume Girard has 11 years of experience with a strong focus on governance, specialising in financial markets, innovation, and European affairs. Having spent four years in central banking, he is currently seconded to the National Bank of Belgium, contributing to strategic coordination, regulatory discussions, and the development of innovation initiatives, including generative AI. His expertise lies in facilitating dialogue between experts and decision-makers, ensuring the effective integration of technical insights into institutional strategies and vice versa.