Financial Markets - 203 - 2ème année de master

L'équipe pédagogique

Mehdi ABABOU

Vice-President – Senior Credit Officer, MOODY’S

Course : Credit Risk

Mehdi Ababou is a Vice President – Senior Credit Officer in the structured finance group of Moody’s in Paris. Mehdi’s responsibilities include the analysis and surveillance of various long term securitisation transactions (ABS) in Europe, North Africa and Middle East. Mehdi also covers the Middle East market as well as digital finance applied to structured finance. He has been working for Moody’s for more than 15 years. Before joining Moody’s, Mehdi worked at Bayerische Landesbank Girozentale, in Paris in the Structured Finance – Securitisation Department. His responsibilities included the structuring and the origination of various types of third party transactions. Mehdi also worked at Credit Commercialde France in Paris and London in the Structured Finance – Emerging Market Department. Mehdi holds a university degree in Economics and Business Administration from the Paris I – Sorbonne University (Paris), and a Banking and Finance degree from the Paris V – Descartes University (Paris). Mehdi has been teaching finance for 20 years, specifically credit risk and structured finance.

Hafid Agouzoul

Head of the model validation and risk methodologies team, National Bank of Abu Dhabi

Course : Fixed Income 2

Hafid is currently at National Bank of Abu Dhabi (NBAD), which he joined May 2014. He's heading the model validation and risk methodologies team (All asset classes).
Prior to that, Hafid spent 8 years at BNP Paribas London where his recent position was global head of IRFX valuation model validation team. He was also in charge of transversal IRFX market and model risk projects.
Prior to joinging BNP Paribas, he worked for Credit Agricole SA as quantitative risk analyst working on Interest Rates and Equity products.
Hafid graduated from Ecole Nationale des Ponts et Chaussées and holds a Master degree (DEA) in "Probability & Finance" from Pierre and Marie Curie University, Paris VI. 

Kaiza Amouh

Head of Global Markets IT Quants, Natixis, Paris

Course : Numerical Finance

Graduated from Ecole Polytechnique, Kaiza holds a master's degree in Computational Finance from Lille 1 University and a DEA of Probability and Finance from Paris 6. He also holds a certificate of Data Science from the Massachusetts Institute of Technology.
After working as a Quant in the ALM department at Société Générale Insurance, he joined Natixis CIB in 2015 as a Quantitative Associate in charge of pricing models development for Interest Rate exotic derivatives.
Since 2019, he is the Head of Linear Rates & Credit Derivatives within the R&D department of Natixis CIB.

Arnaud Angelo

Responsable de l'équipe Modèle interne pour le risque de crédit de contrepartie, Crédit Agricole CIB

Cours : Risk Management

Arnaud ANGELO est actuellement responsable de l'équipe Modèle interne pour le risque de crédit de contrepartie (CCR) chez Crédit Agricole CIB. Son équipe est en charge des méthodologies réglementaires et internes du CCR.
Auparavant, il a travaillé comme chef de projet à La Banque Postale en charge du développement de la plateforme Market Risk, et comme analyste quantitatif chez Crédit Agricole CIB.
Arnaud est titulaire d'un diplôme d'ingénieur de l'ESIEE Paris et d'un Mastère Spécialisé en Finance de l'ESCP Europe.

Fabian Astic

Managing Director & Global Head – Digital Economy, Moody’s Ratings, New York

Course : Alternative Finance

Fabian Astic serves on Moody’s Ratings’ Senior Leadership Team as Managing Director, Global Head of Digital Economy, and Chair of the AI Oversight Working Group. He leads the rating agency’s preparedness efforts related to the digitalization of the global economy, including Digital Finance, AI Analytics, and Cyber Credit Risk. Prior to his current role, Fabian led quantitative analytics and innovation for the rating agency, and also held various roles in the Credit Strategy & Standards and Structured Finance groups.

Fabian’s academic credentials include a Ph.D. in Applied Mathematics with a focus on Mathematical Finance, and a Master’s Degree in Mathematics Applied to Economic Sciences from Université Paris Dauphine. He also graduated as an engineer from the Ecole des Mines de Paris, where he specialized in Quantitative Finance.

Arthur Bagourd

FX Algo Trading Quant, Barclays London

Cours : Marchés électroniques

Arthur Bagourd a commencé comme eFX quant au sein de Barclays en 2019. Il est responsable de la modélisation et du développement des algorithmes de Market Making sur le marché du FX.

Arthur est diplômé du Master 203 - Financial Markets de l'Université Paris Dauphine - PSL.

Sylvain Benoit

Maître de conférences, Université Paris Dauphine-PSL

Course : Applied Time Series

Sylvain Benoit is Assistant Professor in Finance at Université Paris Dauphine - PSL since 2015. He obtained a PhD in Finance from Université d’Orléans in 2014 and received the SAB Trophy for the best thesis on Sustainable Finance in 2015 as well as the award of the best AFFi conference paper in financial and banking regulation in 2017. Sylvain was a visiting scholar at University of California Santa Cruz (2011) and Cass Business School (2014).

His research mainly focuses on systemic risk, both from a theoretical and an empirical point of view, and have been presented to highly selective conferences such as the European Finance Association, the Northern Finance Association or the European Meeting of the Econometric Society. Two of his research papers have been published in Review of Finance and one of his work is forthcoming in Journal of Financial Intermediation. More generally, his research interests are in financial regulation, monetary policy and financial stability, as well as financial econometrics. Sylvain shares systematically his code and data underlying his research papers to promote transparency and reproducibility.

Schlomy Botbol

Quantitative analyst, Comgest

Course : Volatility trading strategies

Schlomy BOTBOL joined Comgest in 2016 as a Quantitative Portfolio Manager. Before joining, Schlomy worked as a Portfolio Manager in cross asset investments and alternative strategies, in particular for Société Générale Asset Management Alternative Investments in 2005 and UBP Alternative Investments in 2009. He is a derivatives expert who has considerable experience in portfolio management, execution and quantitative research of innovative investment solutions. Schlomy graduated from the French Grande Ecole Telecom SudParis and holds a Master’s degree from Université Paris – Dauphine (Master 203).

Constance Boublil-Groh

Economist, Société Générale

Courses : Financial Markets and the Economy

Constance Boublil-Groh is Senior Economist at Société Générale.
She is in charge of macroeconomic forecasts, sovereign ratings and ESG analysis.
Until 2012, she was Economist at Coface working on French State export guarantees. She is also Jury for the Economic exam of The French Ecole Nationale d’Administration. She was educated at Sciences Po Paris and has a Master Degree in International Economics.

Mathieu CARLES

Corporate restructurer, serial entrepreneur and private investor, Financière et Immobilière Famille Carles

Course : Mergers & Acquisitions

Mathieu graduated from ESSEC. He also has a master’s in business law (maîtrise en droit des affaires), and he holds a helicopter pilot license (PPL-H). And Mathieu recently completed a specialized training in a prestigious French culinary school.
Mathieu has been a teacher and an instructor in Finance for more than twenty years at Conservatoire National des Arts et Métiers, Grenoble École de Management, ESSEC, CESI Nanterre CESI Orléans, as well as for LEFEBVRE DALLOZ. His favorite topics are financial modeling, company valuations and business planning. He has worked for more than 10 years in investment banking or advisory firms optimizing financial performance of groups of companies, corporate restructurings, public offerings and other operations on financial markets.
In FY2008, his experience enables him to act both as a private investor and advisor raising significant amounts of indebtedness.
Today, Mathieu operates his own companies. He also acts as an advisor to project holders and entrepreneurs. He also shares his experience teaching to bankers, financial analysts, CFOs, as well as to the brilliant students of Master 203 with the M & A Finance course at Université Paris Dauphine-PSL.

Julien CLAISSE

Maître de Conférence, Université Paris Dauphine-PSL

Course : Derivative Pricing and Stochastic calculus II

Graduated from ENS Lyon and Sorbonne Université, Julien holds a PhD in Mathematics from Université Côte d'Azur. He is currently Maître de Conférences (Associate Professor) at Université Paris-Dauphine and member of the CEREMADE research unit.

His research focuses on stochastic analysis, stochastic control and numerical probability with a particular interest towards population dynamic and financial applications.

Nathalie Yaël Cohen

Leadership Coach, Paris

Course : Soft skills

With a French education, Oriental culture and Anglo-Saxon spirit, Nathalie Yaël Cohen has always been interested in multicultural diversity, geopolitics and international relations. For 20 years she worked in the Financial Markets, specializing in foreign exchange risk management.
She has since always two passions: Theatre for letting go and expressing emotions and Medicine because of her continuous amazement at the magic and power of the human body.
After a sabbatical year travelling, discovering other cultures, doing volunteer work for sick children, for autistics and the realization that " time is life! “ she chose to reconvert herself professionally.
Graduated of the Co-Active Training Institute, ICF Member and certified NLP; she is now a Leadership Coach. She works internationally with large groups and start-ups. She is committed to connecting people to their essence, in order to develop their leadership and creativity.

Jacopo Maria D’Andria

Economist at the Risk Division of Société Générale

Course : Financial Markets & the Economy

Jacopo Maria D’Andria works as an Economist at the Risk Division of Société Générale, where he is in charge of the analysis of the banking sector, the impact of financial regulation and financial stability issues. Also, he is responsible for the macroeconomic forecasts of the UK economy. Previously, he worked at the European Central Bank (ECB) in the Stress Modelling Division of the Macroprudential and Financial Stability Directorate and in the Financial Research Division of the Research Directorate.

He holds a master’s degree in Economics and Social Sciences from Bocconi University in Milan and a bachelor’s degree in Economics from the same university.

Laurent Dahan

Head of market risk and P&L analysis, Crédit Agricole CIB

Course : Risk Management

Laurent Dahan works at Crédit Agricole Corporate and Investment Bank, as head of market Risk Management on interest rate derivatives (linear G10 & emerging, Govies, and inflation linked). Prior to this position, he held various management positions in Equity Derivatives Market Risk (Exotics, structured products, and fund derivatives) for more than 12 years
Before working in Market Risk Laurent spent 2 years in a family office, in charge of fund allocation on medium and long term. He put in place equity and forex derivative strategies funded by bonds on medium term and a dynamic and systematic strategy for the long term investment.
Laurent graduated from Miage Dauphine and then specialized in statistical models applied to finance. He is a member of The Professional Risk Managers' International Association and GARP (FRM certified).

Olivier FERON

Director of the Finance for Energy market research Laboratory

Cours : Energy Derivatives

Olivier Féron est chercheur-Senior en gestion des risques à EDF et Directeur du laboratoire Finance des Marchés de l’énergie. Ses recherches concernent l’ensemble de la chaîne liée aux activités de gestion des risques sur les marchés, de l’analyse et la modélisation des marchés de l’énergie et financiers, à l’optimisation de portefeuilles face à des critères multiples de performances et de risques. Les compétences clés de ces domaines sont les statistiques et les mathématiques financières.

Marius-Cristian Frunza

Managing Partner, Schwarzthal Kapital

Course : Alternative Finance

Marius-Cristian Frunza is a Director with Schwarzthal Kapital, a financial advisory and research company. He is specialised in climate change and environmental finance.
Previously, he worked as a broker in the energy markets for a commodity broker. He has also a consulting experience hedging.
He graduated from Ecole Polythechnique and holds a PhD in mathematical finance and a HDR in economics from the reputed Paris Sorbonne University. He is the author of over 20 articles in various areas including carbon markets and risk management. He also published 4 books including Fraud on the carbon market, considered a reference work on the subject.

Thibault Godbillon

Policy expert , European Banking Authority

Course : Regulation and Financial Markets

Thibault Godbillon is a policy expert in the supervisory review, recovery and resolution unit at the European Banking Authority (EBA). He focuses on matters relating to resolution planning - MREL and resolvability assessment in particular.
Prior to joining the EBA, Thibault was a manager within the resolution directorate of the Bank of England where he contributed to the execution of the Bank’s MREL policy (MREL setting, MREL reporting and monitoring), led resolution planning for a Global Systemic Important Institution, contributed to active contingency planning and to developing the resolvability assessment framework.
Before joining the regulatory side, Thibault was Assistant Vice President at DBRS in London after having gained experience in financial auditing, M&A and economic research in Paris.

Karen Herrgott

Collaborative Communication facilitator, Paris

Course : Soft skills

Master 203 alumni from year 2000, Karen Herrgott holds a Master in Business Administration from University of South Florida.
Financial consultant at Murex for 17 years, Karen Herrgott specialised on Market Risk Management area and now works as free-lancer on Basel 3 software implementation.
Passionated with NonViolent Communication since 2010, Karen Herrgott shares her know-how with companies willing to enhance collaboration within their teams.

Juan Imbet

Assistant professor of Finance, Université Paris Dauphine-PSL

Course : Python Programming

Juan Imbet is an Assistant Professor of Finance at the Université Paris-Dauphine. He holds a PhD in Finance from Universitat Pompeu Fabra and the Barcelona GSE.
Juan's research interests lie at the intersection between asset pricing, corporate finance, and computational finance. He holds a M.Sc. in Finance from the Barcelona Graduate School of Economics, and a double major B.Sc. in Industrial Engineering and B.A. in Economics with a minor in Mathematics from Universidad de los Andes in Bogotá.
His current research interests include the impact of uncertainty on corporate decisions and financial markets, information disclosure, liquidity, and large scale optimization. Juan is an expert in textual analysis and machine learning to construct and process big data to study financial markets and corporations.

Ashwin Joshi

Vice President, Fixed Income ESG Investment team, BlackRock, New York

Cours : Finance durable

Ashwin travaille avec l'équipe Fixed Income de BlackRock pour fournir des solutions d'investissement ESG à leurs clients en intégrant des outils et des stratégies d'intégration des risques ESG et climatiques au processus d'investissement.

Ashwin a obtenu un BA (Licence) de l'Université Vanderbilt en 2015, avec une spécialisation en mathématiques et en économie et une mineure en informatique. Il est également titulaire du titre de CFA depuis 2019.

Aymeric Kalife

CEO, iDigital Partners, Adjunct Professor, Université Paris Dauphine - PSL

Courses : Financial Derivatives & Sustainable Finance

Graduate from HEC, Science-Po and ENSAE, Aymeric holds a mathematical finance Ph.D from Dauphine University & ESSEC. Rates derivatives quant at ABN AMRO then on commodities derivaties at EDF, he has worked as an hybrids derivatives structurer at Merrill Lynch, then as a volatility strategist at Deutsche Bank. He then joined AXA for 11 years where he subsequently held the positions of Deputy Chief Risk Officer at AXA Hedging Services, “Head of "Structuring, Hedging, Modelling", "Global Head of Unit-Linked Guaranteed Products" and “Global Head of Savings & Group Deputy Life Chief Actuary” at AXA Group. He is now the founder and CEO of iDigital Partners, specialized in Investments advisory while leveraging on digital technologies. He is also adjunct professor at Université Paris - Dauphine since 2012.

He teaches finance at Dauphine University and HEC Paris, and his research interests are in hedging market liquidity risk for flow and structured products, Variable Annuities product design and hedging strategies, and the modelling of insurance products policyholders’ behaviour.

Thierry Kuagbenu

Director of Investment Solutions, Aviva Investors France, OFI INVEST, CFA, FSA, FRM

Course : Advanced Asset Management

Thierry is the Director of Investment Solutions since January 2023. He is an expert on insurance and pension funds problematics, product structuring and financial modelling for complex products and strategies.
Before he had worked as a head of investment solutions at Aviva Investors France for 8 years, and as a quantitative analyst at Aviva France for 3 years after having been a Senior Manager for a year . From 2008 to 2011 Thierry has been a quantitative analyst for the insurer AllState. He has started his career as an actuary associate at AEGON.
Thierry holds Master in Financial Engineering of Cornell university. He is also a CFA charterholder, FSA ”Fellow of Society of Actuaries”, and FRM ”Financial Risk Manager”.

Gaëlle Le Fol

Professor in Finance, Université Paris Dauphine - PSL

Courses : Introduction to financial econometrics & Electronic Markets

Gaëlle Le Fol is Professor of Finance at Paris Dauphine - PSL and Resarch Fellow at the CREST (Centre de Recherche en Economie et Statistique). She is an economics and econometrics graduate from the University of Paris 1 Panthéon – Sorbonne and holds a Ph.D in Economics from Paris 1 University. Before joining the Université Paris-Dauphine, Gaëlle Le Fol was an Assistant Professor (Maîtres de Conférence) at the University of Paris 1 Panthéon – Sorbonne (1999-2002) and a Professor of Economics at the University of Angers (2002-2006) and the University of Evry (2006-2010).

Her research interests are in financial market microstructure and financial econometrics. Her recent research has included investors behaviors and their impact on the trading characteristics, market liquidity, contagion and systemic risk as well as high frequency algorithmic trading. She teaches financial econometrics and electronic markets.  

Alberto Manconi

Assistant Professor of Finance, Bocconi University

Course : Behavioral Finance

Alberto Manconi is Assistant Professor of Finance at Bocconi University. Alberto joined Bocconi University in September 2016, after working for six years in the Finance Department at Tilburg University (Netherlands). 
Alberto's research interests revolve around financial intermediation and corporate finance.
Alberto's research has been presented at all major international conferences in the field of financial economics (AFA, WFA, EFA, FIRS), and it has been published in leading journals such as the Journal of Financial Economics, the Review of Financial Studies, the Journal of Financial and Quantitative Analysis, and the Review of Finance. 

Diane Menville

Directrice de la trésorerie et des marchés de capitaux de l'Agence française de Développement (AFD)

Cours : Sustainable Finance

Diane Menville a une formation en Statistiques et 15 ans d'expérience en finance évoluant dans différents environnements du secteur privé aux institutions internationales. Ainsi, après 10 ans passés au sein de Barclays Bank plc à Paris et à Londres, elle a rejoint en 2015 la Banque de France en tant qu'experte en risque de crédit et de marché, la Banque mondiale en 2017 dans l'équipe des risques de marché puis le cabinet de Joaquim Levy, le MD CFO de la Banque mondiale.

Après quelques années à la Trésorerie de la Banque mondiale, dans l'équipe chargée de l'allocation quantitative et des actifs, elle retourne en Europe et dans le secteur privé en 2020, pour développer la stratégie ESG : des mesures d'impact des entreprises aux stress tests climatiques sur les portefeuilles, pour le compte de Scope Group, l’agence de notation européenne.

Diane Menville est devenue en 2021, la directrice de la trésorerie et des marchés de capitaux de l’Agence Française de Développement.

Guillaume Monarcha

Responsable de la Recherche Quantitative, Orion Financial Partners

Courses : Financial Econometrics II & Advanced Asset Management

Guillaume Monarcha is partner at orion financial partners, since 2009. As head of research, his role consists in developping quantitative investment solutions (cross asset / global macro strategies) and active risk management tools (systematic overlays).
He started his carreer at Natixis CIB as Quantitative Economist, before leading a team of Quant Strategists in charge of hedge fund research and market analysis.
Guillaume holds a Ph.D in Economics. His research activity is focused on hedge funds, asset allocation, risk premia, and nowcasting.
His research activity is focused on hedge funds, asset allocation, risk premia, and nowcasting.

Brice Périn

Head of Convertible Bonds and Volatility Funds, LBPAM

Course : Volatility trading strategies

Brice Perin is responsible for Convertible Bonds and Volatility Management at LBPAM.
Brice has over 20 years of experience in volatility and convertible management. He began his career at DWS as a convertible arbitrage manager, then was responsible for the management of several directional or arbitrage funds - based on volatility or convertible strategies -, at DWS then at La Française. AM, Acropole Am, at Generali Investment and now at LBPAM.
Brice graduated from ENSAE.

Jiang Pu

Enseignant-Chercheur, ESILV

Course : Electronic Markets

Jiang Pu is a teacher-researcher at ESILV in the finance department. He works in close collaboration with university researchers and actors of the financial sector. A graduate of Ecole Polytechnique and ENSAE, he obtained a doctorate in applied mathematics from the University of Paris-Diderot on stochastic optimization applied to mathematical finance.

His research interests are: stochastic optimization, statistical learning, market microstructure.

Marc Ringeisen

Directeur délégué du Centre Opérationnel Production Marchés, EDF

Course : Energy Derivatives

After starting his career at EDF in a nuclear power plant, Marc Ringeisen focused on the professions of optimizing the supply-demand balance for electricity and EDF's portfolio of physical assets in interaction with the markets. He held various operational and management positions within the Upstream Downstream and Trading Optimization Department. He was also head of an EDF R&D department which develops the calculation codes used by EDF for the operational management of its assets and market risks. He is now Deputy Director of the entity in charge of optimizing EDF's asset portfolio in France on market horizons. He graduated from the Ecole Centrale de Lyon.

Olivier Toutain

Executive Director, Scope Ratings, Adjunct Professor, Université Paris Dauphine-PSL

Courses : Credit Risk & Sustainable Finance

Olivier Toutain hold a diploma in engineering, with a major in applied mathematics, and graduated from the University Paris-Dauphine with a post master’s qualification. He is currently Executive Director at Scope Ratings, in charge of rating transactions or defining credit risk assessment methodologies in Structured Finance. Previously, he held different roles at Banque de France and Moody's; at Banque de France as Head of the Risk Modelling Unit within the Risk Management Directorate at Banque de France, and as Head of the ABS Purchase Program for France, Ireland and Portugal; at Moody's responsible for the quantitative methodologies in the European Structured Finance Group. He spent approximately the last 20 years working on Securitisation either analysing their credit risk or purchasing those transactions. He is also adjunct professor at Université Paris - Dauphine since 2013.

Mathieu VAISSIÉ

Partner, GINJER AM

Course: Advanced Asset Management

Mathieu Vaissié is a Partner at GINJER AM, an entrepreneurial investment boutique, which specializes in European public markets. He started his career in the Investment Banking Industry, as an M&A Analyst, at SGCIB; before switching to the Asset Management Industry, first as a Researcher, at the EDHEC Risk Institute, which he helped launch in 2001, and then as a Portfolio Manager, in the Alternative Investment division of LYXOR AM, where he contributed to the development of its active management capability. Mathieu is an expert in designing and managing traditional/alternative beta and alpha strategies across asset classes. His current research focus is on the complexity of modern capital markets.
Mathieu holds a PhD in Finance from the University of Paris Dauphine-PSL. He graduated from the EDHEC Business School.

Thibaud Vienne

Data Scientist, Hymaïa

Course : Machine Learning in Finance

Thibaud Vienne is currently a lead Data Scientist at Hymaïa, a consulting company specializing in data. Previously he has worked at Natixis CIB, where he is responsible for a data science team. He has also founded Clevergence, a fintech company that was providing AI-based risk models for asset managers.

Thibaud has also teached big data analytics lectures at ESIEE Paris, his former engineering school, where he has received a master's degree with honors.

Vinicius Wolf

Sanctions Internationales - Groupe monitoring, Crédit Agricole Group

Cours : Ethique, normes professionnelles et conformité

Vinicius Wolf a 10 ans d'expérience dans le domaine de l'audit interne et de la conformité bancaire et travaille actuellement au sein de l'équipe Sécurité Financière (plus précisément au sein des Sanctions Internationales) du groupe Crédit Agricole. Ses principales missions actuelles sont liées au suivi des Sanctions Internationales sur les entités du groupe Crédit Agricole en termes de risques et de contrôles.
Auparavant, Vinicius a été responsable de la conformité d'une banque d'affaires et d'investissement à Sao Paulo, puis consultant en risques et conformité dans deux grandes entreprises à Paris.
Il est diplômé en relations internationales (B.A.), puis a poursuivi ses études avec un double diplôme en économie financière dans les universités de São Paulo et d'Oxford. En outre, il est diplômé du Master 2 de Banque et Finance de Panthéon-Sorbonne.

Redouane Zad

Founding Executive Director, Cristalys

Course : Exotic Options & Structured Products

Redouane is currently Executive Director at Cristalys, which he founded on 2018. Cristalys develop investment tools using Quantitative models and Machine Learning.
Prior to that, Redouane spent 12 years at Amundi Asset Management where his recent position was head of Fixed Income Structured Fund Managers.
Prior to joinging Amundi, he worked for MUREX as developer on Interest Rates products.
Redouane graduated from Ecole Nationale Supérieure d’Informatique et de Mathématiques Appliquées de Grenoble and holds a Master degree in " Financial Modelling and Engineering " from Evry University, and an Applied Master in Data Science and Artificial intelligence from Data ScienceTech Institute, and a Certificate in Financial Risk Management given by GARP Association.