CreditSights Asia Conference 2023: The Road to Recovery

Pramod Shenoi is responsible for steering the firm’s operations in the region and growing its research team and coverage. He joined CreditSights in December 2019 to Head Asia Pacific research for Financial Institutions, which he continues to be responsible for. Prior to joining CreditSights, Pramod spent 17 years in Debt Capital Markets covering Financial Institutions clients in Asia and Europe.

Pramod joined Lehman Brothers’ DCM FIG origination team in London in 2002, covering UK and Irish banks and insurers, and transitioned to Nomura in 2008. He moved to Standard Chartered in Singapore as a founding member and subsequently head of the DCM Capital solutions team in 2010, advising the bank’s clients in Asia, the Middle East, and LatAm on Basel III compliant instruments, corporate hybrids, bond liability management and sustainability bonds, before heading Mizuho Securities’ DCM FIG coverage in Asia (ex- Japan) between 2016-2019.

He holds a Bachelor’s degree in Economics from St.Stephen’s College, University of Delhi, and an MBA from the Indian Institute of Management, Ahmedabad

Sandra became Co-Head of Asia-Pacific Research in 2021 and is responsible for guiding the region’s research output, with a focus on corporate credit issuers and thematic research. She has over 18 years of experience in credit research and has analysed high yield, distressed and investment grade credits across a variety of sectors in Asia, Europe and North America.

Sandra joined CreditSights in 2011 and served as Head of Asia-Pacific from 2017-2020, guiding the firm’s Asian business and regional strategy. She stepped down from the role in 2020 to spend more time with her family. Prior to joining CreditSights, Sandra was a director in Barclays Capital’s Asian credit research team, covering North Asian corporates. She has also worked in Singapore as a high yield analyst at Credit Suisse and a high yield and distressed debt analyst at UBS Principal Finance. Sandra began her career at JPMorgan in London, working in the European real estate M&A division and later in the bank’s European credit research team.

Sandra graduated from the University of Cambridge with an MA in Italian and French. She is a native Cantonese speaker and holds a diploma in modern Chinese from the School of Oriental and African Studies in London. She is a CFA Charterholder and holds a CFA Certificate in ESG Investing.

Regis Chatellier is a seasoned emerging markets strategist covering EM sovereigns, combining top-down macro with bottom-up/quant modeling approaches. Prior to joining CreditSights in March 2023, he was Director of EM Strategy at Oxford Economics for two years, covering sovereign credit, FX and EM rates. Regis worked for 20 years as an EM fixed income strategist at international investment banks, including Morgan Stanley, HSBC and Société Générale. He did his studies at Sciences Po. Paris (Economics & Finance) and holds a Master’s degree in Economics from the University of Nantes.

Lakshmanan covers Asian High Yield and Investment Grade corporates. Prior to joining CreditSights in 2016, he worked as a senior credit analyst at Credit Suisse for 6 years in credit risk management and credit desk analyst roles. He has credit analysis experience across the Asia-Pacific issuer universe in global investment banks since 2008. He has covered corporates across various sectors, rating spectrum and credit products. A CFA charterholder, Lakshmanan holds a MBA degree with specialization in Finance/Marketing, a Bachelor’s degree in Engineering and the FRM (Financial Risk Manager) certification from GARP, USA.

Zerlina is a senior analyst with the Asia Pacific corporate team. Her current research coverage focuses on China macro, Chinese local governments financing vehicles (LGFVs), and China Industrials.

Prior to joining CreditSights, Zerlina headed IHS Markit’s credit risk assessment product in Asia Pacific, including research coverage and business development. She has also worked as a senior analyst with S&P Ratings in Hong Kong, covering local & regional governments, Chinese SOEs and the property sector. Zerlina began her career at Goldman Sachs in New York, working in the fixed income, commodity & currency division.

Zerlina graduated from the Wharton School of the University of Pennsylvania with a BS in Finance and the University of Hong Kong with an MA in Economics. She is a CFA Charterholder.

Luther joined CreditSights in Singapore in 2016 and covers Chinese corporates, with a focus on the Chinese property sector. During his time at CreditSights, he also produced research on Asia credit strategy and Chinese TMT. Luther graduated summa cum laude from Singapore Management University with a double degree in Accountancy and Business Management, majoring in Finance. Luther was part of the Lee Kong Chian Scholars Programme and participated in exchange programmes with the University of Cambridge and the Copenhagen Business School during his undergraduate studies. He is also a CFA charterholder.

As head of the company’s European business unit, Simon is also a member of the firm’s Executive Committee and is on the CreditSights, Inc. Board of Directors. He joined CreditSights as Senior European Financial Analyst in 2003. Prior to that he was a Managing Director, Head of European High Grade Research and Senior European Bank analyst at Deutsche Bank (1996-2003). Simon worked at rating agency IBCA, now part of FitchRatings, from 1987 to 1996 where in addition to covering banks in various European countries he was an Executive Committee member. Simon started his career in 1983 at Midland Bank’s International Division, spending four years there in a variety of roles. He read Modern Languages at Sidney Sussex College, Cambridge University, graduating in 1983.

Winnie is the Global Head of Strategy at CreditSights. Prior to joining CreditSights, Winnie was a Managing Director and the Head of Credit Strategy for Wells Fargo, leading the research teams focused on the corporate investment grade and leveraged finance markets. At Wells Fargo, Winnie developed the leveraged finance strategy product, rolling out coverage on high yield, leveraged loans and the distressed market. With more than 10 years of experience in institutional research, Winnie has emerged as one of the leading voices in corporate credit strategy and is a frequent guest on CNBC, Bloomberg, NPR and Yahoo Finance. Winnie began her career in investment banking, covering energy and power companies. She also spent time in high yield research, focused on health care, and high yield trading.

Winnie graduated from Emory College with a B.A. in International Studies and completed her JD/MBA at the Emory School of Law and Goizueta Business School. Winnie is a member of the North Carolina and Illinois Bar Associations. Winnie was selected as one of Charlotte Business Journal’s 40 Under 40 and was one of 12 women invited to participate in Bloomberg’s New Voices program.

Aurelia Britsch works as a senior director in the environmental, social, and governance research team for Sustainable Fitch. She heads the climate research team, focusing on climate and transition risks for investors, corporates, and financial institutions.

Prior to this role, Ms. Britsch led Fitch Solutions Industry Research’s commodities fundamental analysis and price strategy, covering mining and metals, and agribusiness. She joined Fitch in 2012. She has also worked in the People’s Republic of China; Hong Kong, China; and France, carrying out macroeconomic research and strategic analysis for the French Ministry of Economy and Finance, Bretagne International, and the Beijing-based sustainability consultancy SynTao. Ms. Britsch holds a master’s degree in international economics and political sciences from Sciences Po Bordeaux, France.

Liang is Head of Global Credit, APAC, for BNP Paribas, based in Singapore. In this role, Liang is responsible for primary market, flow, solutions and financing across credit products in the APAC region. She has over 17 years of experience in the APAC bond primary business. Prior to taking up this role, Liang was Head of DCM and Bond Syndicate for BNP Paribas in APAC, based in Singapore and Hong Kong. She was responsible for origination and syndication of primary bond transactions covering investment grade and high yield bonds both in G3 and Asian local currencies. Before joining BNP Paribas, Liang worked for Deutsche Bank in the Relative Value Group.

David Makoni is responsible for Global Sovereign bond research coverage within the Portfolio Management and Research Office at Bank of Singapore. He has 25 years of investment experience garnered in diverse buy-side and sell-side environments – including private banking, asset management and investment banking. Prior to his current role at Bank of Singapore, he previously worked at Standard Bank Group, Barclays, Fitch Ratings, and Robert Fleming.

Daniel Han joined HSBC in 2015 and is currently the Head of Fixed Income, Southeast Asia. Based in Singapore, Daniel brings with him over 15 years of experience in the financial markets, specializing in credit and interest rates products. He is responsible for formulating fixed income investment strategy and bond recommendations for HSBC Global Private Banking and Wealth clients. He is also a member of the HSBC Global Investment Sub-Committee for Fixed Income. Prior to joining HSBC, Daniel was part of the Fixed Income advisory team in DBS Private Bank , where he was responsible for cash bonds and credit structured products. Prior to that, he was an equities and bond trader at OCBC Securities.

Dhiraj is the Head of Asia Credit at Lombard Odier. He joined Lombard Odier in 2012, and is responsible for the fixed income team in Asia, focusing on Asia Pacific debt markets. Prior to joining Lombard Odier, Dhiraj was a portfolio manager with Cairn Capital in London, a full-service credit asset management firm, from 2006 to 2012. There he managed investment grade and high yield portfolios and traded credits in both long-only and long/short portfolios. Dhiraj also gained experience in JP Morgan & Chase in their European credit & rates research department in London, in 2006. Dhiraj started his career at Singapore Airlines and from 2000-2005 where he did corporate strategy.