Faculty & Advisory Board

The BTRM Faculty

BTRM Designer and Founder 

Moorad Choudhry

Professor Moorad Choudhry is an Independent Non-Executive Director on the Board of Recognise Financial Services Ltd. Previously he was Treasurer, Corporate Banking at The Royal Bank of Scotland, Head of Treasury at Europe Arab Bank, Head of Treasury at KBC Financial Products and vice-president in structured finance services at JPMorgan Chase Bank. He began his career at the London Stock Exchange in 1989.

At KBC FP Moorad led the team that designed, originated and structured Picaros Funding LLP, the world’s first multi-SPV synthetic asset-backed funding vehicle, and later winner of the Euromoney Structured Finance Deal of the Year award for 2005.

Moorad is a Fellow of the Chartered Institute for Securities & Investment, a Fellow of the Institute of Directors, a Fellow of the London Institute of Banking and Finance and a Freeman of the Worshipful Company of International Bankers. He is on the Editorial Boards of the Journal of Structured Finance, Qualitative Research in Financial Markets, and American Securitization. He is author of The Principles of Banking.




Head of BTRM Faculty

Chris Westcott

Chris Westcott has over 30 years of experience in the banking industry, with the majority of time spent in the field of Treasury management. He has held a range of senior positions in the Treasury functions of both Nat West and Royal Bank of Scotland in the UK. These have included divisional Treasurer roles and various project assignments, such as leading the development of an in-house securitisation capability and the integration of the ABN AMRO Treasury function post-acquisition.

In the lead-up to the implementation of CRD IV, Chris was the Basel 3 Programme Director for RBS, accountable for over-seeing the group-wide set of projects to achieve compliance with the new regulations.

Chris joined the BTRM Faculty in 2014

Deputy Head of Faculty

Edward Bace

Dr Edward Bace is a finance professional specialising in credit and liquidity risk. He is an advisor to the Chartered Institute for Securities & Investment (CISI), where he is involved in professional finance qualifications. He lectures at Middlesex University Business School’s Accounting & Finance Department, teaching graduate and undergraduate finance, banking and economics programmes.

Dr. Bace has been a banking and credit risk professional for many years in New York and London, and served as Head of Education for the CFA Institute in Europe, Middle East and Africa. He serves on Academic Editorial Panels for the CISI and IISES, and on PRMIA’s Ethics & Professional Standards Committee.

Edward has a University of Michigan PhD and a New York University Business School MBA. He is a CFA and a Charter Member of the CISI.

Suleman Baig

Suleman Baig

Suleman Baig has over 17 years experience in investment banking, over half of which has been in the securitisation and covered bond space.

Within the securitisation market, Suleman has executed a significant number of transactions in variety of asset classes spanning four continents. He has structured a number of market ‘firsts’ including the first ever South American covered bond (Structured Finance Deal of the Year, Latin Finance 2012).

Suleman is a board member of the European Securitisation Forum. He is currently responsible for Securitisation in the Investment Banking Division of Goldman Sachs.

He is a graduate of the London School of Economics.

Polina Bardaeva

Dr Polina Bardaeva graduated from Lomonosov Moscow State University, Department of Economics in 2007 with a Masters degree and obtained her PhD from the same institution in 2010.

During 2011-2014 she was Head of Internal Treasury at MTS Bank in Moscow, currently she is Head of Group FTP at Sberbank.

Polina is on the faculty of Moscow State University (for its Masters program) and has authored 16 publications on finance and economics.

Beata Lubinska

Dr Beata Lubinska is Head of Market Risk at MeDirect Group in London, where her focus is on IRRBB, Market Risk and Balance Sheet Management. She has over 15 years of experience in this space gained at GE Capital, Deloitte and Standard Chartered Bank both in Milan and London.

Peter Eisenhardt

Peter Eisenhardt is Secretary General of the International Council of Securities Associations. He has worked in treasury, money market trading, bond options trading, repo, credit, and debt origination in New York, London, and Tokyo over a 30-year career at Bank of America Merrill Lynch and J.P. Morgan.

Peter was voted by industry peers to Euroweek's "Dream Team of the Global Capital Markets" in 2004. He is past chairman of the International Capital Markets Association Euro Commercial Paper Committee.

Peter holds a BA from Wesleyan University and an MBA from New York University.

Massimo Pedroni

Massimo is partner of Prometeia since January 2015 and Head of the International Business Practice since October 2014. His client base is highly diversified, including central banks, multilateral development organizations, international banking groups and small-size financial institutions.

In his multi-year experience as ALM & Treasury Risk consultant, he has worked in more than 15 different countries, leading large-scale projects in Austria, Germany, Russia, Turkey, Central Eastern Europe and Middle East countries.

Before joining Prometeia, Massimo has held various consulting positions in several Tier1 banks and, more recently, the role of Head of Treasury Risk Modelling in TSB Bank.

His qualifications include a BA in Economics and a Master in Quantitative Finance from the University of Modena and Reggio Emilia.

DooBo Chung

Dr DooBo Chung is a Director in the Non-Personal Products group at the Royal Bank of Scotland’s Commercial and Private Banking division. DooBo contributed to the implementation of an Active Credit Portfolio Management.

DooBo has a background in academia and risk management having previously worked in ABN AMRO’s Quantitative Risk Analytics team. DooBo has an MSc graduating cum laude and a PhD in Aerospace Engineering both from the Delft University of Technology. DooBo was also the National Physics Olympiade champion in Suriname (South America), representing Suriname in the International Physics Olympiade held in Oslo, Norway (1996).

Enrique Benito 

Dr Enrique Benito is with Deloitte in London where he specialises on the provision of advisory services within the Banking & Capital Markets practice. His past experience includes the set-up of the ALM function of GE Capital Bank in London. Prior to that he was with the UK Financial Services Authority, where he contributed to the development of the first post-crisis liquidity risk supervisory regime and represented the UK on negotiations relating to Basel III and CRD IV. He began his career at the Central Bank of Spain.

Enrique is a Teaching Fellow at the University of Oxford’s Saïd Business School and sits at the advisory council of the Centre for the Study of Financial Innovation (CSFI).

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Amitabh Singhania 

Amitabh Singhania is a Chartered Accountant and a seasoned, multi-disciplinary risk professional having over 20 years’ experience in the financial services industry. 

He has been the Head of Risk with Emirates NBD Bank in London (where he held the SMF4/Chief Risk designation), Senior Credit Officer with Standard Chartered Bank in London and has also worked with Royal Bank of Scotland and ICICI Bank. Amitabh holds an Individual Charter membership of the Chartered Institute for Securities & Investment (CISI) and has qualified the Financial Risk Manager (FRM) I program of the Global Association of Risk Professionals (GARP).


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Andrea Cremonino

Andrea is responsible for the Capital Optimisation team in the Capital Management unit at UniCredit.

Further to a Ph.D in Managerial Engineering, he entered the investment banking arm of UniCredit, moving to CFO and then to CRO Departments where he took the role of ICAAP coordinator. Then, within the Supervisory Affairs team, he held the position of relationship manager with Supervisory Authorities regarding risk and finance and SREP topics.

He is Member of Committiees on banking supervision, risk management and finance at European level.

Soumya Sarkar

Soumya has over 12 years of experience in Treasury, Risk management and Trading/Structuring in London, Singapore and Mumbai. In his most recent role he set up the Treasury function at Oak North Bank, embedding the liquidity and capital adequacy framework and being part of the team submitting the banking license to the PRA. Previously Soumya worked in ALM and balance sheet management for RBS Global Markets and in risk management of structured credit portfolios at Rabobank.


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Kevin Liddy

Kevin Liddy is a consultant with Solum Financial and has 30 years of experience in investment bank trading and risk management. Prior to joining Solum Financial he held trading positions at Chase Manhattan, Bear Stearns, Nat West and Royal Bank of Scotland. At Royal Bank of Scotland he was Global Co-Head of Counterparty Exposure Management responsible for the pricing, management and trading of all counterparty risk activities; in addition Kevin was Deputy Head of Delta Trading and Global Head of STIRT, responsible for all Delta trading products. Kevin holds a BSc. Hons in Applied Science from Kingston University.

Michael Eichhorn

Michael is a Managing Director at Credit Suisse with over 20 years risk management experience, working both as a practitioner and in academia. Since 2014, he is working as the Global Head of Treasury & Liquidity Risk at Credit Suisse. Before that he worked for eight years at RBS, inter alia as the Group Treasury CRO and Global Head of Market Risk, Wealth Management Division. Michael holds a Ph.D. in Business Administration from the University of Lueneburg, Germany. He is an honorary professor at Harz University, Germany and a visiting lecturer at Swiss Federal Institute of Technology, Zurich. He has (co-)authored more than 50 publications covering Treasury, Risk and Change Management topics.


Graham Hillier

Graham Hillier worked within the RBS and NatWest group for nearly 40 years. He joined a West Sussex branch of NatWest aged 16, prior to transferring to London two years later. During his career he gained experience in customer-facing functions across the retail, mid-corporate, large corporate and financial institutions sectors and subsequently in various Risk departments. Graham’s principal area of expertise is in credit risk management, across a diverse customer and product range. In addition to sanctioning risk limits under his discretionary power and providing advice on structuring, Graham has served on a number of Risk related committees. He holds the ACIB banking diploma qualification.


Engelbert Plassmann

Engelbert Plassmann is Director at Commerzbank’s Treasury ALM department in Frankfurt. The department is responsible for controlling structural liquidity risk including Liquidity FTP and also covers regulatory developments relating to liquidity management.

Previously Dr Plassmann worked in several roles in former Dresdner Bank’s risk department, including market risk modelling and economic capital allocation. Before entering banking in 2001, Engelbert pursued academic interests and earned a doctoral degree in econometrics from University of Constance, Germany.


Michael Hass

Michael is a Managing Director at FIG VALUE PARTNERS, a boutique advisory firm that provides independent consulting and interim services to Financial Institutions. He has 16-years’ experience in leading complex strategy, corporate finance, regulatory and value creation projects for Financial Institutions. Michael is a Lancaster MBA Alumni, CFA® Charterholder and guest lecturer at the Lancaster Advanced Financial Analysis Master’s Course, which is delivered in collaboration with Fitch.


Patrick Carey

Patrick Carey has worked at all levels of market risk management from executive-level policy and governance to quantitative modelling and the hands-on management of complex positions. A former Head of Group Market Risk for the Bank of Ireland, he was responsible for ensuring that the bank identified, measured, managed and controlled the full range of market risks - trading, IRRBB and structural - to which it was exposed.

He was a member of Bank of Ireland’s executive Asset and Liability Committee and chair of the Bank’s Market Risk Committee and Structural Risk Committee.

He is a specialist in Interest Rate Risk in the Banking Book (IRRBB). Up to December 2017, he was a member of the European Banking Federation’s Committee on Interest Rate Risk in the Banking Book (IRRBB) and chairperson of the Banking and Payments Federation of Ireland’s working group on IRRBB.


Jonathan Farnan

Jonathan Farnan is a Director in the Treasury Markets team at Standard Chartered. Jonathan joined Standard Chartered in 2016 from Goldman Sachs, where he was a member of their Treasury team. He has held various liquidity management positions since beginning his career in 2009.

Jonathan holds a BSc Hons in Mathematics from the University of Bath, and he is a proud alumnus of the BTRM, having passed ‘with distinction’ in the summer of 2018.


Natasha Bourne

Natasha Bourne works in Finance and Strategic Business Partnering at Cambridge & Counties Bank in Leicester. She is a Chartered Accountant (ACA) and qualified with KPMG in 2018; previously her work was within financial services external audit, and covered clients in the building society and challenger bank sectors.

Natasha holds a BA (Hons) in Natural Sciences from the University of Cambridge.



Guest Lecturers

The BTRM is very privileged to be able to bring highly respected and esteemed practitioners and academics to the programme to present guest lectures on issues of topical interest.

Past guests have included:

  • Professor Carol Alexander, Head of the Business and Management Department at the University of Sussex and co-editor of the Journal of Banking and Finance
  • Professor Jessica James, MD, Head of FX Quantitative Solutions Group at Commerzbank AG
  • Professor Joel Bessis, HEC, Paris and author of Risk Management in Banking
  • Valerie Maysey, Director Trading Risk Management at UniCredit Bank AG
  • Dr Jon Gregory, Senior Advisor, Solum Financial Ltd
  • Stephen Laughton, Head of FIC Front Office Risk & Resource Optimisation, Commerzbank AG
  • Colin Johnson, former Chairman of the UK ALM Association

Colin Johnson

Valerie Maysey Professor Jessica James
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Professor Carol Alexander Professor Joel Bessis Dr Jon Gregory

Advisory Board

The BTRM is privileged to be able to call on an esteemed Board of Advisors that influence the shape and direction of the programme, ensuring its relevance, currency and practitioner value.

Ruth Wandhofer

Ruth Wandhöfer

Ruth Wandhöfer is Global Head of Regulatory and Market Strategy for Citi's Treasury and Trade Solutions business.

Ruth was named as one of 2010s "Rising Stars" by Financial News; named in Management Today's 2011 "35 Women under 35" list of women to watch, and one of the 100 Most Influential People in Finance 2012 as named by Treasury Risk magazine. She speaks five languages (EN, DE, FR, ES, IT) and has an MA Financial Economics, an MA International Politics and an LLM in International Economic Law. She is a fellow lecturer of the Pallas LL.M Program in European Business Law and lectures at Queen Mary London School of Law. Her first book, EU Payments Integration (Palgrave MacMillan) was published in 2010. Her second book, Transaction Banking and the Impact of Regulatory Change: Basel III and other challenges for the global economy (Palgrave MacMillan) was published in 2014.

Brian Eales

Brian Eales

Brian Eales led the Finance Team at London Metropolitan University for many years and developed its MSc Financial Markets and Derivatives programme. He has extensive practical experience of international financial markets with Commerzbank, and consultancy projects with banks including Barclays Capital, Credit Suisse First Boston, Deutsche Bank, Mizhuo and BNP Paribas.

For the past five years he has been associated with the International College of Economics and Finance part of the National Research University Higher School of Economics (Moscow) through its links with the London School of Economics and Political Science, where he lectures and carries out workshops on the use of derivative securities.

Brian holds a BA degree in Economics, an MSc in Econometrics from the London School of Economics and is a Fellow of the Royal Statistical Society.