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2022 ECB Forum – Speakers

Andrew Bailey

Andrew Bailey was appointed Governor of the Bank of England in December 2019 and began his term in March 2020.

Mr Bailey attended Queens’ College, Cambridge from 1978 to 1984, where he completed a bachelor’s degree with first class honours in history and a PhD in economic history.

Before taking up the role of Governor of the Bank of England, Mr Bailey served as Chief Executive Officer of the Financial Conduct Authority from July 2016. In that position, he was also a member of the Prudential Regulation Committee, the Financial Policy Committee and the Board of the Financial Conduct Authority.

Mr Bailey previously held the role of Deputy Governor, Prudential Regulation and Chief Executive Officer of the Prudential Regulation Authority from April 2013. While retaining his role as Executive Director of the Bank of England, he joined the Financial Services Authority in April 2011 as Deputy Head of the Prudential Business Unit and Director of UK Banks and Building Societies. In July 2012 he became Managing Director of the Prudential Business Unit, with responsibility for the prudential supervision of banks, investment banks and insurance companies. Mr Bailey was appointed as a voting member of the interim Financial Policy Committee at its June 2012 meeting.

Before that, Mr Bailey worked at the Bank of England in a number of areas, including as Executive Director for Banking Services and Chief Cashier, as well as Head of the Bank’s Special Resolution Unit. Other roles include Governor’s Private Secretary, and Head of the International Economic Analysis Division in Monetary Analysis.

Richard Baldwin

Richard Baldwin has been Professor of International Economics at the Graduate Institute, Geneva since 1991, and Editor-in-Chief of VoxEU since he founded it in June 2007.

Paper: “Globotics and macroeconomics: Globalisation and automation of the service sector”Presentation

He was President/Director of the Centre for Economic Policy Research (2014-18), and a visiting professor at the University of Oxford (2012-15) and Massachusetts Institute of Technology (MIT) (2003). He was a senior staff economist on the US President’s Council of Economic Advisers in the Bush Administration (1990-1991), on leave from Columbia Business School, where he was Associate Professor.

He advises governments and international organisations around the world, and is the author of numerous books and articles on international trade, globalisation, regionalism and European integration. His 2016 book “The Great Convergence: Information Technology and the New Globalization” was listed by Lawrence Summers as one of the five most important books on globalisation ever. His latest book, “The Globotics Upheaval: Globalization, Robotics, and the Future of Work”, was published in February 2019.

Mr Baldwin did his PhD in economics at MIT under the guidance of Paul Krugman, with whom he has co-authored several articles. He received his MSc in economics from the London School of Economics and his BA in economics from the University of Wisconsin-Madison. He has honorary doctorates from the Turku School of Economics and Business (2005), the University of St. Gallen (2012), and Pontificia Universidad Católica del Perú (2014).

He has been a member of the World Economic Forum (WEF) Stewardship Board on Trade and Investment Issues since 2016, and previously served on the WEF Global Agenda Council on Trade and Foreign Direct Investment from 2009 to 2015. He has been a member of the Academic Advisory Committee of Japan’s Research Institute of Economy, Trade and Industry (RIETI) in Tokyo since 2011. He was Vice Chair of the Academic Advisory Committee of the Peterson Institute for International Economics in Washington (2008-12), and an elected member on the Council of the European Economic Association (1999-2004, 2006-11).

Ulrich Bindseil

Ulrich Bindseil is Director General Market Infrastructure and Payments at the ECB, a post he has held since November 2019.

Previously, he was Director General Market Operations (from May 2012 to October 2019) and Head of the Risk Management Division (from 2005 to 2008). He first entered central banking in 1994, when he joined the Economics Department of the Deutsche Bundesbank, having studied economics. His publications include Monetary Policy Operations and the Financial System, Oxford University Press, 2014; Central Banking before 1800 – A Rehabilitation, Oxford University Press, 2019; and Introduction to Central Banking (with A. Fotia), Springer, 2021.

Hilde C. Bjørnland

Hilde C. Bjørnland is Professor of Economics and Provost for Research and Academic Resources at the BI Norwegian Business School.

Paper: “The effect of rising energy prices amid geopolitical developments and supply disruptions”Presentation

Ms Bjørnland holds an MSc in econometrics and mathematical economics from the London School of Economics, and a PhD in economics from the University of Oslo. She was also awarded His Majesty The King of Norway’s Gold Medal for her PhD thesis in social sciences.

Ms Bjørnland is Director of the Centre for Applied Macroeconomics and Commodity Prices and acts as a scientific advisor to Norges Bank. She is an elected fellow at the International Association for Applied Econometrics, a former President and elected member of the Executive Committee for the Society for Nonlinear Dynamics and Econometrics, a research associate at the Centre for Applied Macroeconomic Analysis at the Australian National University and a guest editor for Energy Economics.

Her professional engagements include membership of the commission appointed by the Norwegian Government to review the Financial Supervisory Act, the Finnish Economic Policy Council, the Abel Board and the Corporate Assembly of Norsk Hydro ASA. In addition, Ms Bjørnland has previously held a position at the International Monetary Fund and been a board member of the Swedish Fiscal Policy Council, the Financial Supervisory Authority of Norway and the Petroleum Price Board in Norway. More recently, she has been a member of the Climate Change Commission and of the expert group appointed by the Norwegian Government to assess the economic consequences of the COVID-19 pandemic.

Her main research interests are in the areas of applied macroeconomics, including business cycles, energy economics, commodity prices and fiscal and monetary policy. She has published in leading journals such as American Economic Journal: Macroeconomics, The Economic Journal, Journal of International Economics, Journal of Monetary Economics and Review of Economics and Statistics. Her work has been widely published by international media, including the BBC, Bloomberg, the Financial Times, Le Monde and The Wall Street Journal.

Markus K. Brunnermeier

Markus K. Brunnermeier is Edwards S. Sanford Professor of Economics at Princeton University and Director of Princeton’s Bendheim Center for Finance.

His research focuses on international financial markets and the macroeconomy, with special emphasis on bubbles, liquidity, financial and monetary price stability, and digital money. In 2020, at the start of the coronavirus (COVID-19) pandemic, he launched a webinar series.

Mr Brunnermeier is also a non-resident senior fellow at the Peterson Institute for International Economics, a research associate at the National Bureau of Economic Research, the Centre for Economic Policy Research, CESifo, Luohan Academy, and the Asian Bureau of Finance and Economic Research, and a member of the Bellagio Group.

He is a Sloan Research Fellow, fellow of the Econometric Society, and Guggenheim Fellow, and was awarded the 2008 Bernácer Prize for outstanding contributions in the fields of macroeconomics and finance. He is a member of several advisory groups, including to the US Congressional Budget Office, the Bank for International Settlements and Deutsche Bundesbank, and a past member of advisory groups to the International Monetary Fund, the Federal Reserve Bank of New York and the European Systemic Risk Board. Mr Brunnermeier received his PhD from the London School of Economics.

He has been awarded several “best paper” prizes and served on the editorial boards of a number of leading economics and finance journals. He has worked to establish the concepts of liquidity spirals, financial dominance, CoVaR as a measure of systemic risk, the volatility paradox, the paradox of prudence, resilience, European Safe Bonds (ESBies), the redistributive monetary policy, the reversal rate, and digital currency areas. His recent book “The Resilient Society” won the 2021 prize for the best business book in German at the Frankfurt Book Fair and was listed among the year’s best economics books by the Financial Times.

Agustín Carstens

Agustín Carstens became General Manager of the Bank for International Settlements (BIS) in December 2017.

Mr Carstens began his career in 1980 at the Bank of Mexico. From 1999 to 2000 he was Executive Director at the International Monetary Fund (IMF). He later served as Mexico’s deputy finance minister (2000-03) and as Deputy Managing Director at the IMF (2003-06). He was Mexico’s finance minister from 2006 to 2009.

Mr Carstens was Governor of the Bank of Mexico from 2010 to 2017. A member of the BIS Board from 2011 to 2017, he was also Chair of the Global Economy Meeting and the Economic Consultative Council from 2013 to 2017. He chaired the International Monetary and Financial Committee, the IMF’s policy advisory committee, from 2015 to 2017.

Mr Carstens has been a member of the Financial Stability Board since 2010 and is also a member of the Group of Thirty.

Mr Carstens holds an MA and a PhD in economics from the University of Chicago.

Luis de Guindos

Luis de Guindos has been Vice-President of the ECB since June 2018. In this capacity, he is also a member of the Executive Board, Governing Council and General Council of the ECB.

He was Spanish Minister of Economy, Industry and Competitiveness (2016-18) and Minister of Economy and Competitiveness (2011-16). He served as Secretary of State for Economic Affairs and a member of the Economic and Financial Committee of the EU (2002-04). Prior to that, he was Secretary General for Economic and Competition Policy (2000-02) and Director General (1996-2000).

Mr de Guindos was Director of IE Business School in Madrid and the PricewaterhouseCoopers/IE Center for the Finance Sector (2010-11). He was previously Head of Financial Services at PwC (2008-09). He was Chief Executive Officer Iberia at Lehman Brothers and Chief Executive Officer at Nomura Securities (2006-08).

He received a BSc in economics with honours from CUNEF Universidad in Spain in 1982 and qualified as State Economist and Trade Expert in 1984.

Giovanni Dell'Ariccia

Giovanni Dell’Ariccia is Deputy Director of the Research Department at the International Monetary Fund, where he supervises the activities of the Macro-Financial Division and the Systemic Issues Division.


Previously he worked in the Asia and Pacific Department. Mr Dell’Ariccia holds a bachelor’s degree in economics and statistics from the University of Rome and a PhD in economics from the Massachusetts Institute of Technology. He is a research fellow of the Centre for Economic Policy Research.

Mr Dell’Ariccia’s research interests include banking, the macroeconomics of credit, monetary policy, digital currencies, international finance, and conditionality in international lending and aid programmes. He has worked on issues ranging from how information frictions shape competition among banks to credit booms and the relationship between monetary policy, leverage and credit quality. His work has been published extensively, including in The Journal of Finance, Journal of Financial Economics, The Review of Financial Studies, and Journal of Money, Credit and Banking.

Gabriel Felbermayr

Gabriel Felbermayr has been Director of the Austrian Institute of Economic Research in Vienna and a professor at the Vienna University of Economics and Business since October 2021.


After studying economics and trade at the University of Linz, he went to Florence, Italy, to pursue his doctoral studies. From 2004 to 2005, he was an associate consultant with McKinsey & Company in Vienna. From 2005 to 2008, he was Assistant Professor at the University of Tübingen. From 2009 to 2010, he held a chair in international economics at the University of Hohenheim, Stuttgart. From 2010 to 2019, he led the ifo Center for International Economics at the University of Munich, where he also served as a full professor of international economics. From 2019 until September 2021 he was President of the Kiel Institute for the World Economy and held a chair in economics and economic policy at Kiel University.

Mr Felbermayr holds various roles and positions. Most notably, he is a member of the Scientific Advisory Board of the German Federal Ministry of Economic Affairs and Energy, Chairman of the Statistics Council of Statistics Austria, Associate Editor of European Economic Review, and Associate Editor of Journal of the European Economic Association.

His research and consulting work focuses on issues of international trade theory and policy, labour market research, European economic integration, and current economic policy issues. He has published a large number of articles in international academic journals, policy briefs and newspapers. His research has been recognised with several awards.

Claire Jones

Claire Jones is International Economy News Editor at the Financial Times, within the newspaper’s global economy team.

She joined the Financial Times in 2011 to cover economics and markets in the United Kingdom and the euro area. She holds a degree in philosophy and economics from the London School of Economics.

Şebnem Kalemli-Özcan

Dr Şebnem Kalemli-Özcan is Neil Moskowitz Professor of Economics and Finance and Director of the Center of International Economics at the University of Maryland, College Park.

Paper: “Global supply chain pressures, international trade and inflation”Presentation

She received her MA and PhD in economics from Brown University in 1996 and 2000 respectively. She is a research associate at the National Bureau of Economic Research and a research fellow at the Centre for Economic Policy Research. She is Co-Editor of American Economic Journal: Macroeconomics and on the editorial board of American Economic Review. She also serves on the economic advisory panels of the Federal Reserve Bank of New York, the Bank for International Settlements and the European Systemic Risk Board.

Previously Ms Kalemli-Özcan was Co-Editor of Journal of International Economics and Associate Editor of Journal of European Economic Association and Journal of Development Economics. She was the Wim Duisenberg Fellow at the European Central Bank in 2008 and Lead Economist/Advisor for the Middle East and North Africa Region at the World Bank from 2010 to 2011.

From 2017 to 2018 she was both the Houblon-Norman Fellow at the Bank of England and an International Affairs Fellow at the Council of Foreign Relations. She served as Senior Policy Advisor and Assistant Director at the International Monetary Fund from 2019 to 2020. In 2008 Ms Kalemli-Özcan became the first Turkish social scientist to receive the Marie Curie International Reintegration Grant, for her research on European financial integration. She is a visiting professor at Bilkent, Koç and Harvard universities.

Her areas of research include capital flows, macroeconomic fluctuations and financial frictions, with a theoretical and empirical focus on international linkages and spillovers. Her papers have been published in leading journals such as American Economic Review, Quarterly Journal of Economics, Review of Economic Studies, Journal of European Economic Association, Journal of Finance and Journal of International Economics.

Francine Lacqua

Francine Lacqua is an award-winning London-based anchor for Bloomberg Television.

She co-anchors the daily weekday programme “Bloomberg Surveillance: Early Edition”, where she provides insights into foreign policy, global markets and the top business stories of the day. She also presents “Leaders with Lacqua”, a special series where she sits down with top CEOs, entrepreneurs and public figures. Additionally, she anchors “ETF IQ Europe” each week and hosts the new “In The City” podcast.

Since joining Bloomberg in 2000, Ms Lacqua has covered the Annual Meetings of the World Economic Forum (WEF) in Davos, the International Monetary Fund in Washington, G20 meetings, the EU Leaders’ Summit and the Organization of the Petroleum Exporting Countries (OPEC). She also led Bloomberg Television’s coverage of the Italian and French elections and was one of the first international reporters to interview cabinet members.

While at Bloomberg, Ms Lacqua has interviewed high-profile figures such as French President Emmanuel Macron, ECB President Christine Lagarde, Bank of England Governor Andrew Bailey, billionaire financier George Soros and former ECB President Mario Draghi. She has also interviewed finance ministers from South Korea, Russia, France, Mexico, Italy and Greece, and moderated televised debates from the WEF’s Annual Meetings in Davos and on the European Economic Governance package.

In 2018 Ms Lacqua received the Knight of the Order of the Star of Italy. The decoration, which honours Italians living abroad who promote national prestige and cooperation with the nation, was presented by Italian Ambassador Raffaele Trombetta on behalf of the President of Italy.

In 2013 Ms Lacqua won “International TV Personality of the Year” at the AIB Media Awards. She had previously been nominated in 2009 and 2010. In 2012 she was part of the Bloomberg team that won the OPEC Award for Public Interest Reporting. She has an LLB in English law from King’s College London and obtained her undergraduate degree at Sorbonne University. She speaks fluent French and Italian.

Christine Lagarde

Christine Lagarde has been the President of the ECB since November 2019.

Between 2011 and 2019 she served as the 11th Managing Director of the International Monetary Fund, after holding office as French Minister of Economy and Finance from 2007 to 2011 and as French Minister of Trade from 2005 to 2007.

A lawyer by training, she was in practice for 20 years with international law firm Baker McKenzie and was appointed Global Chair of the firm in 1999.

She was the first woman to hold all of these positions.

Philip R. Lane

Philip R. Lane joined the ECB as a member of the Executive Board in June 2019. He is responsible for the Directorate General Economics and the Directorate General Monetary Policy.

Before joining the ECB, he was Governor of the Central Bank of Ireland. He has also chaired the Advisory Scientific Committee and Advisory Technical Committee of the European Systemic Risk Board and was Whately Professor of Political Economy at Trinity College Dublin. He is also a research fellow at the Centre for Economic Policy Research.

A graduate of Trinity College Dublin, he was awarded a PhD in economics from Harvard University in 1995 and was Assistant Professor of Economics and International Affairs at Columbia University from 1995 to 1997, before returning to Dublin. In 2001 he was the inaugural recipient of the Germán Bernácer Prize for outstanding contributions to European monetary economics.

Ulrike Malmendier

Ulrike Malmendier is a professor of economics and finance at the University of California, Berkeley, where she has worked since 2006, having previously been an assistant professor of finance at Stanford University.


Ms Malmendier is also a research associate at the National Bureau of Economic Research, a faculty research fellow at IZA Institute of Labor Economics, and a research affiliate at CESifo and the Centre for Economic Policy Research. In 2013 she received the Fischer Black Prize, awarded by the American Finance Association to the best researcher in finance under the age of 40. She was inducted into the American Academy of Arts and Sciences in 2016 and was a recipient of the 2017 Guggenheim Fellowship.

Her areas of interest are behavioural economics and behavioural finance. She received her PhD in business economics from Harvard University and her PhD in law (summa cum laude) from the University of Bonn.

Loretta J. Mester

Loretta J. Mester is President and Chief Executive Officer of the Federal Reserve Bank of Cleveland.


She participates in the formulation of US monetary policy and oversees 1,000 employees in Cleveland and branch offices in Cincinnati, Ohio, and Pittsburgh, Pennsylvania.

Dr Mester holds a BA in mathematics and economics from Barnard College and an MA and a PhD in economics from Princeton University. Prior to assuming her current role in 2014, she worked at the Federal Reserve Bank of Philadelphia, which she joined as an economist in 1985, before becoming Senior Vice President and Director of Research in 2000 and Executive Vice President and Director of Research in 2010. Dr Mester is also currently an adjunct professor of finance at the Wharton School of the University of Pennsylvania.

Her areas of research expertise and interest include the organisational structure and productive efficiency of financial institutions, financial intermediation and regulation, agency problems in credit markets, credit card pricing, central bank governance and inflation. Dr Mester has published numerous articles in refereed academic and professional journals on a variety of topics, including economics and central banking, as well as financial intermediation and regulation. In addition, she is Co-Editor of Journal of Financial Services Research and an associate editor of several other academic journals.

John Muellbauer

John Muellbauer is a senior research fellow of Nuffield College, Professor of Economics at Oxford University, and a senior fellow of the Institute for New Economic Thinking at the Oxford Martin School.

Paper: “Real estate booms and busts: Implications for monetary and macroprudential policy in Europe”Presentation

He received a BA in economics from King’s College, Cambridge, and an MA and a PhD from the University of California, Berkeley.

Mr Muellbauer previously worked as an official fellow of Nuffield College (1981-2011), a professor at Birkbeck College, London (1977-81), a reader and lecturer at Birkbeck College (1972-77) and a lecturer at the University of Warwick (1969-72).

He is a fellow of the British Academy and the Econometric Society, and a research fellow of the Centre for Economic Policy Research. His 1980 paper with Angus Deaton, “An Almost Ideal Demand System”, was selected as one of the top 20 papers published in American Economic Review in its first 100 years.

Mr Muellbauer was a visiting scholar at the Board of Governors of the Federal Reserve System and the International Monetary Fund in 2009, Wim Duisenberg Fellow at the ECB in 2012-13 and a fellow of the South African Reserve Bank from 2018 to 2020. He has also collaborated with economists from around the world on interactions between finance, housing and the real economy.

Neha Narula

Neha Narula is Director of the Digital Currency Initiative, a part of the Massachusetts Institute of Technology (MIT) Media Lab focusing on crypto-assets and blockchain technology.

In 2015 she received her PhD in computer science from MIT, where she worked on concurrency control for scalable databases, distributed systems and web security. She previously graduated from Dartmouth College with majors in mathematics and computer science.

She was a senior software engineer at Google, where she was on the team that initially designed Blobstore, a system still in use today for storing and serving petabytes of immutable data, and Native Client, a way to run native code securely through a browser.

Ms Narula is currently part of the Innovation Advisory Council convened by the Federal Reserve Bank of New York. She gave a TED talk on the future of money that has received over two million views, and was named on WIRED’s list of 25 leaders shaping the next 25 years of technology.

Her research interests lie in the scalability, privacy and security of crypto-assets and distributed systems. Her work has been published as part of the Association for Computing Machinery (ACM) Symposium on Operating System Principles, the USENIX Symposium on Operating Systems Design and Implementation, and the IEEE Symposium on Security and Privacy (Oakland). She is the co-chair of the 2022 ACM conference on Advances in Financial Technologies.

Erik F. Nielsen

Erik Fossing Nielsen is Group Chief Economics Advisor at UniCredit Bank, advising senior management on macroeconomic and policy issues.


Prior to joining UniCredit in September 2011 as Group Chief Economist and Global Head of Corporate and Investment Banking Research, Mr Nielsen worked for 15 years at Goldman Sachs in New York and London, where he oversaw the firm’s European and central and eastern European economics teams as Chief European Economist. Before joining Goldman Sachs he spent ten years in Washington, D.C. working as an economist for the International Monetary Fund and the World Bank in various capacities, including as country economist for Russia and Turkey, and as a debt expert in sovereign debt workouts around the world.

Mr Nielsen started his career as an economist at Danmarks Nationalbank in Copenhagen, where he worked mostly on European economic and exchange rate issues. He also taught for two years at Copenhagen Business School. He holds a graduate degree in economics from the University of Copenhagen.

Mr Nielsen is one of the most frequently quoted economists in the financial media and regularly appears as a guest host and commentator on Bloomberg Television, CNBC, CNN and other channels.

Fabio Panetta

Fabio Panetta has been a member of the Executive Board of the ECB since January 2020.

He is responsible for the Directorates General International and European Relations, Market Infrastructure and Payments, and Banknotes.

Prior to joining the ECB, Mr Panetta was Senior Deputy Governor of the Banca d’Italia and President of the Italian Institute for the Supervision of Insurance.

He has served on the Board of Directors and Committee on the Global Financial System at the Bank for International Settlements. From 2014 to 2019 he was a member of the Supervisory Board of the ECB.

Mr Panetta graduated with honours in economics from Luiss University, Rome. He holds an MSc in economics from the London School of Economics and a PhD in economics and finance from London Business School.

He has authored books and papers published in international journals such as American Economic Review, Journal of Finance, Journal of Money, Credit and Banking, European Economic Review and Journal of Banking and Finance.

Barbara Petrongolo

Barbara Petrongolo is a professor of economics at the University of Oxford and a professorial fellow at Nuffield College.

Discussion of paper “Globotics and macroeconomics: Globalisation and automation of the service sector”

Ms Petrongolo is Director of the Centre for Economic Policy Research (CEPR) Labour Economics programme and a research associate at the Centre for Economic Performance of the London School of Economics. She previously held positions at Queen Mary University of London, the London School of Economics, the Paris School of Economics and Universidad Carlos III de Madrid. She is currently Managing Co-Editor of The Economic Journal.

Ms Petrongolo’s primary research interests lie in labour economics. She has written extensively on the performance of labour markets with job search frictions and implications for unemployment dynamics, welfare policy and interdependencies across local labour markets. Her work also researches the causes of gender inequalities in labour market outcomes, from a historical perspective and across countries, with an emphasis on the role of employment selection mechanisms, structural transformation and interactions within the household.

Richard Portes

Richard Portes is a professor of economics at London Business School (LBS).

He is also the founder and Honorary President of the Centre for Economic Policy Research and co-founder of the quarterly journal Economic Policy. He is an elected fellow of the Econometric Society and of the British Academy.

Mr Portes is a member of and has chaired the Advisory Scientific Committee of the European Systemic Risk Board (ESRB) and he is Co-Chair of the ESRB’s Joint Expert Group on non-bank financial intermediation and High-Level Exploratory Group on Crypto-Assets and Decentralised Finance.

He is a founding member of the Bellagio Group on the International Economy and an academic director of the AQR Asset Management Institute at LBS. Mr Portes was a Rhodes Scholar, then an official fellow of Balliol College at the University of Oxford (where he is now an honorary fellow). He holds three honorary doctorates and has written extensively on globalisation, sovereign borrowing and debt, European monetary issues, European financial markets, macroprudential regulation and international capital flows. He was made a Commander of the British Empire (CBE) in the Queen’s New Year’s Honours List 2003.

Jerome H. Powell

Jerome H. Powell first took office as Chair of the Board of Governors of the Federal Reserve System in February 2018 for a four-year term. He was reappointed to the office and sworn in for a second four-year term in May 2022.

Mr Powell also serves as Chair of the Federal Open Market Committee, the Federal Reserve’s principal monetary policymaking body. He has served as a member of the Board of Governors since taking office in May 2012 to fill an unexpired term. He was reappointed to the Board in June 2014 for a term ending in January 2028.

Prior to his appointment to the Board, Mr Powell was a visiting scholar at the Bipartisan Policy Center in Washington, D.C., where he focused on federal and state fiscal issues. From 1997 to 2005 he was a partner at The Carlyle Group.

Mr Powell served as Assistant Secretary and Under Secretary of the US Treasury under President George H.W. Bush, with responsibility for policy on financial institutions, the Treasury debt market and related areas. Prior to joining the Administration, he worked as a lawyer and investment banker in New York City.

In addition to his positions on corporate boards, Mr Powell has served on the boards of various charitable and educational institutions, including the Bendheim Center for Finance at Princeton University and The Nature Conservancy in Washington, D.C. and Maryland.

He was born in February 1953 in Washington, D.C. He received an AB in politics from Princeton University in 1975 and a law degree from Georgetown University in 1979. While at Georgetown, he was Editor-in-Chief of the Georgetown Law Journal.

He is married with three children.

Ricardo Reis

Ricardo Reis is A W Phillips Professor of Economics at the London School of Economics.


Mr Reis’ recent honours include the 2021 Yrjö Jahnsson Award from the European Economic Association, the 2017 Banque de France/Toulouse School of Economics Junior Prize in Monetary Economics and Finance, and the 2016 Bernácer Prize. He is an academic consultant at the Bank of England, Sveriges Riksbank and the Federal Reserve System. He directs the Centre for Macroeconomics at the London School of Economics, and serves multiple organisations either on the council or as an advisor. He obtained his PhD from Harvard University and previously held positions at Princeton and Columbia universities.

Mr Reis has published widely on macroeconomics. His current areas of research include inflation expectations, central bank balance sheets, misallocation of capital and public debt sustainability.

Hélène Rey

Hélène Rey OBE FBA is Lord Bagri Professor of Economics at London Business School.

She was also a professor of economics at Princeton University. Her research focuses on external imbalances, monetary policy and the financial sector, and the international monetary system.

Ms Rey has received numerous prizes, including the Bernácer Prize and the Yrjö Jahnsson Award, as well as the inaugural Birgit Grodal and Carl Menger Awards. She is a fellow of the Econometric Society, an international honorary member of the American Academy of Arts and Sciences and a foreign honorary member of the American Economic Association.

Ms Rey is an editor of Annual Review of Economics and a Vice President of the Centre for Economic Policy Research. She is a member of the Bellagio Group, the Group of Thirty and the external advisory group to the Managing Director of the International Monetary Fund. She is also on the Board of the Haut Conseil de Stabilité Financière.

Isabel Schnabel

Isabel Schnabel has been a member of the Executive Board of the ECB since January 2020 and is responsible for the Directorates General Market Operations, Research and Statistics.

She is on leave from the University of Bonn, where she was Professor of Financial Economics. Before joining the ECB she was a member of the German Council of Economic Experts and in 2019 was Co-Chair of the Franco-German Council of Economic Experts. Ms Schnabel studied economics at Paris 1 Panthéon-Sorbonne and Berkeley universities and received her PhD in economics from the University of Mannheim.

Cecilia Skingsley

Cecilia Skingsley took up the post of Deputy Governor of Sveriges Riksbank in 2013, before being appointed First Deputy Governor in November 2019.

Ms Skingsley previously held the post of Chief Economist at Swedbank and has also worked at Dagens industri, ABN AMRO Bank and the Swedish Ministry of Finance. She holds a BA in economics and political science and a diploma in financial analysis.

Ms Skingsley represents Sveriges Riksbank on the Committee on Payments and Market Infrastructures and the Euro Retail Payments Board. She is also the Governor of Sveriges Riksbank’s alternate on the General Council of the European Central Bank and is a member of the Advisory Technical Committee of the European Systemic Risk Board.

In addition, Ms Skingsley chairs the Swedish retail payments council and the Sveriges Riksbank’s Cash Handling Advisory Board and is a member of the Swedish Financial Stability Council.

Christian Zinglersen

Christian Zinglersen is Director of the European Union Agency for the Cooperation of Energy Regulators (ACER).


He was appointed in September 2019 and took office in January 2020. Before joining ACER, Mr Zinglersen was Head of the global Clean Energy Ministerial Secretariat. He previously served as Deputy Permanent Secretary at the Danish Ministry of Climate, Energy and Utilities, where he was responsible for the energy policy portfolio as a member of the Ministry’s Executive Board. He served as the Danish Government’s representative on and Vice-Chair of the Governing Board of the International Energy Agency’s, and was the Danish participant in the Director-General meetings on energy policy within the European Union. Prior to that, he led the Danish Government’s global climate negotiations, culminating in Denmark’s Presidency of the Council of the European Union in 2012.

Mr Zinglersen started his career in the Danish Foreign Service, where he focused on EU policy and law, having been posted to Brussels to take up a position at the Permanent Representation of Denmark to the European Union. For a number of years he taught Union law at the University of Copenhagen. He holds a master’s degree in law from the University of Copenhagen and is a graduate of IESE Business School’s Advanced Management programme and Harvard Kennedy School’s Senior Managers in Government programme.


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ECB Forum on Central Banking