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Alessandro Santoni

On-site & Internal Model Inspections

Division

Financial Risk Inspections

Current Position

Head of Section

Fields of interest

Macroeconomics and Monetary Economics,Financial Economics,Public Economics

Email

alessandro.santoni@ecb.europa.eu

Education
2013-2015

EMBA, Columbia Business School, London Business School, Hong Kong University, United States, China

2009-2011

Phd in Cognitive Science, University of Siena, Italy

2006-2007

BA in Political Science, University of Siena, Italy

1998-2004

BA in History, University of Siena, Italy

1997-1998

MSc in International Economics, Bocconi University, Milan, Italy

1991-1995

Ba in Economics, University of Siena, Italy

Professional experience
2023-2023

Head of Onsite Inspection Section (Credit Risk - AQR)-DGOMI, European Central Bank

2021-2023

Senior Financial Expert-MCM Financial Crisis, IMF, Washington, United States

2018-2021

Head of Onsite Inspection Section (Market Risk, Treasury, IT)-DGOMI, European Central Bank

2014-2018

Head of Crisis Management Section-DG4, European Central Bank

2006-2014

Head of Strategic Planning, IR and Research-BMPS, Siena, Italy

2002-2006

Head of Southern European Banks, Goldman Sachs, London, UK

2000-2002

Equity Analyst, ABN-Amro, London, UK

1996-1997

Army Officer (NATO), San Dona del Piave, Italy

Teaching experience
2023-2023

Financial Crimes, University of St. Gallen, Switzerland

2008-2023

Bank Valuation, Bayes School of Business, UK

2016-2023

Risk management, Frankfurt School of Management, Germany

11 May 2023
OCCASIONAL PAPER SERIES - No. 316
Details
Abstract
This article focuses on some of the operational aspects of winding down a bank’s trading book portfolio and discusses the hidden exit costs that can sometimes exist. The article provides a deep dive on valuation principles and exit strategies currently considered by industry practitioners when designing a solvent wind-down plan. It also provides the reader with an overview of key underpinning valuation or pricing concepts, such as ‘fair value’, ‘realisable value’ and ‘solvent wind-down (SWD) value’.
JEL Code
G12 : Financial Economics→General Financial Markets→Asset Pricing, Trading Volume, Bond Interest Rates
G13 : Financial Economics→General Financial Markets→Contingent Pricing, Futures Pricing
G14 : Financial Economics→General Financial Markets→Information and Market Efficiency, Event Studies, Insider Trading
G15 : Financial Economics→General Financial Markets→International Financial Markets
G17 : Financial Economics→General Financial Markets→Financial Forecasting and Simulation
G18 : Financial Economics→General Financial Markets→Government Policy and Regulation
G32 : Financial Economics→Corporate Finance and Governance→Financing Policy, Financial Risk and Risk Management, Capital and Ownership Structure, Value of Firms, Goodwill
G33 : Financial Economics→Corporate Finance and Governance→Bankruptcy, Liquidation
G34 : Financial Economics→Corporate Finance and Governance→Mergers, Acquisitions, Restructuring, Corporate Governance
2023
Springer
How to value a Bank: from licensing to resolution
  • A Santoni, F Salerno
2022
Springer
Corporate Governance in the Banking Sector
  • B Buchetti, A Santoni
2013
Economic Notes: Review of Banking, Finance and Monetary Economics
Assessing Rating Agencies' Ability to Predict Bank Bankruptcy–The Lace Financial Case
  • A Santoni, B Arbia
2013
The Journal of Beta Investment Strategies
Behavioral finance: an analysis of the performance of behavioral finance funds
  • A Santoni, AR Kelshiker
2012
The Journal of Trading
Time Lags in Processing Market-Sensitive Information: A Case Study
  • A Innocenti, P Malpenga, L Menconi, A Santoni
2012
LAP Lambert Academic Publishing
Applying Behavioral Finance to Investing
  • A Santoni
2012
Carocci
Il declino dell’economia italiana tra realtà e falsi miti
  • F Coricelli, M Frigerio, L Lorenzoni, L Moretti, A Santoni
2010
Studi e Note di Economia
US Banks. Causes of Bank Failures in 2009 and Early Warning Indicators
  • A SANTONI, E RICCI, A KELSHIKER
2010
University of Siena Department of Economic Policy, Finance and Development Working Paper
Intra-day anomalies in the relationship between US futures and European stock indexes
  • A Innocenti, P Malpenga, L Menconi, A Santoni
2009
Bancaria
The financial crisis: what to do now and how to prepare for the future
  • G Mussari, A Santoni, S Dalle Mura