ICMA Annual General Meeting & Conference 2025 | Frankfurt (Main) Römer/Paulskirche, 60311 Frankfurt am Main, Germany

About ICMA Annual General Meeting & Conference 2025

The 57^th edition of ICMA’s Annual General Meeting & Conference will be held on June 4 to 6, 2025 in Frankfurt.

The next year’s event will take on a new format with the AGM now taking place on Wednesday afternoon, June 4 before the Welcome Reception. This will allow us to dedicate a full day and half to the conference proceedings on Thursday, June 5 and Friday, June 6 with more targeted workshops and networking sessions.

ICMA’s Annual General Meeting & Conference look forward to building on the success of this year’s AGM in Brussels, which attracted 1,200 senior public sector officials, bankers, investors, market infrastructure providers and lawyers active in the cross-border bond markets, representing 330 institutions from 46 countries, along with academics and journalists.

Meet the international capital market in Frankfurt at the 2025 ICMA AGM and Conference.

Speakers

Souad Benkredda

Member of the Board at DZ BANK DZ BANK AG

Stefan Wintels

Chief Executive Officer at KfW Bankengruppe KfW

Alexander Wynaendts

Chairman of the Supervisory Board at Deutsche Bank AG Deutsche Bank

Charles Myers

Chairman and Founder at Signum Global Signum Global Advisors

Prof. Dr. Ralph Alexander Lorz

Finance Minister of Hesse, Germany FinanzenHessen

Laurie McAughtry

Head of Capital Markets at Euromoney Euromoney

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Alberto Martín Jusdado

Head of Business Development - Tailored Solutions at valantic FSA valantic FSA

Kate Finlayson

Managing Director, FICC Market Structure & Liquidity Strategy at J.P. Morgan J.P. Morgan

Angela Lobo

Head of EMEA eSales & Sales, Chief Operating Officer at Jefferies International Jefferies

Pauli Mortensen

Global Co-Head of Fixed Income Trading at NBIM NBIM - Norges Bank Investment Management

Nadia Calvino

President at European Investment Bank European Investment Bank (EIB)

Andy Hill

Managing Director, Co-Head of Market Practice & Regulatory Policy at ICMA ICMA - International Capital Market Association

Paolo Grassi

Head of Leveraged Finance EMEA, Global Capital Markets at BNP Paribas BNP Paribas

Damien Guichard

Head of European Private Credit at Allianz Global Investors Allianz Global Investors

Ruth Yang

Managing Director, Global Head of Private Market Analytics at S&P Global Ratings S&P Global Ratings

John Millward

Managing Director, Structured Finance Group at HSBC HSBC

Janet Oram

Head of Asset Backed Securities at Universities Superannuation Scheme Ltd Universities Superannuation Scheme Ltd

Flávia Palacios

Chief Executive, Opea and Member of the Board of Directors at ANBIMA ANBIMA

Avisha Sookhee

Director, Alternative Credit Europe Product Development at DWS Alternatives Global Ltd DWS Group

Dr. Stephanie Eckermann

Member of the Executive Board at Deutsche Börse AG DB1 Ventures Deutsche Börse

Tom Ceusters

Director, Treasury Capital Markets & Investments at IFC - World Bank International Finance Corporation (IFC)

Dr. Tammo Diemer

Managing Director at German Finance Agency (Deutsche Finanzagentur) Deutsche Finanzagentur

Jessica Pulay

Chief Executive Officer at UK Debt Management Office UK Debt Management Office

Nobuki Sato

Director, Debt Policy Division, Ministry of Finance Japan Government of Japan

Omar Sefiani

Treasurer at African Development Bank Group African Development Bank Group

Charlie Badran

Head of AXA Financing at AXA Investment Managers AXA Investment Managers

Sabine Farhat

Head of Securities Finance Product Management at Murex Murex

Frank Gast

Managing Director, Member of the Management Board at Eurex Repo Eurex Repo

Michel Semaan

Global Head of LCH RepoClear at LSEG Post Trade London Stock Exchange Group

Tim Armbruster

Group Treasurer and Head of Financial Markets at KfW KfW

Adam Bothamley

Global Head of Debt Capital Markets at HSBC HSBC

Christoph Hock

Head of Tokenisation & Digital Assets at Union Investment Union Investment

Audrey Metzger

Director, Innovation and Financial Market Infrastructures at Banque de France Banque de France

Laurence Caron-Habib

Head of Public Affairs at BNP Paribas Asset Management BNP Paribas

Dr. Massimiliano Castelli

Managing Director, Head of Strategy & Advice, Global Sovereign Markets at UBS Asset Management UBS

Daniel Murray

Deputy CIO & Global Head of Research at EFG AM EFG International

Elisabeth Ottawa

Head of Public Policy Europe at Schroders Schroders

Rudolf Siebel

Managing Director at BVI BVI Finance Limited

Jenny Bofinger-Schuster

Board Member, International Sustainability Standards Board (ISSB) at IFRS Foundation International Sustainability Standards Board (ISSB)

Grover Burthey

Head of ESG Portfolio Management at PIMCO PIMCO

Shinichi Kihara

Director-General, Energy & Environmental Policy at METI Japan Ministry of Economy, Trade and Industry (METI)

Dr. Thorsten Pötzsch

Chief Executive Director, Securities Supervision/Asset Management at BaFin BaFin

Dr. Sabine Mauderer

First Deputy Governor and Member of the Executive Board at Deutsche Bundesbank Deutsche Bundesbank

Bryan Pascoe

Chief Executive at ICMA ICMA - International Capital Market Association

Dr. Melanie Garson

Associate Professor, International Security at University College London University College London

Santiago Braje

Senior Portfolio Manager at PGGM FX PGGM

Vincent Gusdorf, CFA

Associate Managing Director and Head of AI Analytics and Digital Finance Research at Moody’s Ratings Moody’s Ratings

Nini Nguyen

Head of Capital Markets Operations at World Bank Treasury The World Bank Treasury

Emily Prince

Group Head of Analytics at London Stock Exchange Group London Stock Exchange Group

Thorben Lüthge

CFA, Head of Markets and Managing Director at DekaBank – Deutsche Girozentrale DekaBank

Henriette Koegel

Head of Capital Markets at Siemens AG Siemens

Shinichi Kihara

Director-General, Energy & Environmental Policy at METI Japan Ministry of Economy, Trade and Industry (METI)

Hideki Takada

Director (Finance and Sustainability) at GX Acceleration Agency GX (Green Transformation) Acceleration Agency

Nobuki Sato

Director of Debt Management Policy Division, Financial Bureau at the Ministry of Finance Japan Government of Japan

Reiko Hayashi

Board Member at ICMA & Deputy President, BofA Securities Japan ICMA - International Capital Market Association

Motonobu Matsuo

Chief Operating Officer for the Securities Strategy Board at Japan Securities Dealers Association Japan Securities Dealers Association

Nicholas Pfaff

Deputy Chief Executive and Head of Sustainable Finance at ICMA ICMA - International Capital Market Association

Samaila Zubairu

President and Chief Executive Officer at Africa Finance Corporation Africa Finance Corporation

Rodrigo Buenaventura

Secretary General at IOSCO IOSCO

Samuel Arkhurst

Director at Ministry of Finance, Ghana The Ministries of Finance, Representation of the State of North Rhine-Westphalia

Philip Buyskes

Chief Executive Officer at Frontclear Management B.V. Frontclear

Nana Darko

Managing Director and Legal Transactions Counsel at BlackRock BlackRock

Gareth Allen

Managing Director, Global Head Investment and Execution, Head of Repo Trading - Group Treasury at UBS UBS

David Camara Iniesta

Managing Director - Senior trading strategist at Bank of America Bank of America

Tim Grayson

Managing Director at Goldman Sachs Goldman Sachs

Stéphane Janin

Co-Chair, AMIC & Head of Regulatory Affairs at AXA Investment Managers AXA Investment Managers

Isabelle Laurent

Deputy Treasurer & Head of Funding at EBRD European Bank for Reconstruction and Development (EBRD)

Emma Lovett

Executive Director at JPMorgan Chase & Co. J.P. Morgan

Petra Wehlert

Head of Capital Markets KfW KfW

Yumi Yang

Managing Director, Head of Fixed Income Syndicate EMEA at Barclays Barclays

Angela Brusas

Director - Funding and Investor Relations at Nordic Investment Bank Nordic Investment Bank

Dr. Samira Lampe

Debt Capital Markets Origination at Crédit Agricole CIB Crédit Agricole CIB

Doris Kramer

Vice President - Head of Investor Relations & Sustainability at KfW KfW

Reena Parmar

Counsel (DCM Knowledge) at Freshfields Freshfields

Janet Wilkinson

Managing Director, Head of Global Markets Institutional Sales, EMEA at ICMA ICMA - International Capital Market Association

Katie Martin

Columnist and Member of the Editorial Board at Financial Times Financial Times

Bernard Frenay

CEO at European Markets. Member of the Executive Committee, Euroclear SA/NA Euroclear

Fabio Lisanti

Head of Markets Europe at Citi Citi

Ingo R. Mainert

Managing Director at Allianz Global Investors Allianz Global Investors

Marie-Claire Ouziel

Global Head of Bonds at Commerzbank AG Commerzbank AG

Emmanuel Rolland

Chief Operating Officer and Chief of Staff at LCH London Stock Exchange Group

Philipp Hildebrand

Vice Chairman at Blackrock BlackRock

Agenda

13:00 - 14:30 – Registration and voting – Entrance Hall, Level 0

14:30 – Annual General Meeting (ICMA members only) – Meridian Hall, Level 2

16:15 – Spotlight on ICMA’s activities in the international capital markets (Open to all)
Moderator: Bryan Pascoe
Featuring the Chairs of ICMA Committees: Gareth Allen, David Camara, Tim Grayson, Stéphane Janin, Isabelle Laurent, Emma Lovett, Petra Wehlert, Yumi Yang

17:15 – Close of AGM

18:00 – ICMA Future Leaders (IFL) and Women’s Network (IWN) reception (Open to all registered conference delegates) – Balcony, Level 4, KAP Europa Messe Frankfurt

19:00 – Welcome reception – Horizont Hall, Level 4, KAP Europa Messe Frankfurt

23:00 – Close of Welcome reception

08:00 – Registration – Entrance Hall, Level 0
Exhibition open – Horizont Hall, Level 4

08:15 – ICMA Future Leaders (IFL) and ICMA Women’s Network (IWN) joint breakfast session – Mistral Room, Level 2
Strategic career support: Beyond the basics – Open to all registered conference delegates
Moderators: Angela Brusas, Samira Lampe, Doris Kramer, Jo Heppe, Reena Parmar

09:00 – Opening remarks – Janet Wilkinson

09:05 – Forum of industry leaders: The outlook for the international bond markets
Moderator: Katie Martin
Speakers: Bernard Frenay, Fabio Lisanti, Ingo Mainert, Marie-Claire Ouziel, Emmanuel Rolland

09:45 – Keynote – Philipp Hildebrand

09:55 – The landscape for international financial market and capital flows amidst deglobalisation, economic fragmentation and geopolitical shifts
Moderator: Janet Wilkinson
Speakers: Souâd Benkredda, Stefan Wintels, Alexander Wynaendts

10:25 – Keynote – Trump 2.0: Domestic and Foreign Policy Priorities and Geopolitical Implications – Charles Myers

10:35 – Keynote

10:45 – Break

11:10 – Keynote – Professor Dr. Ralph Alexander Lorz

11:20 – How is the trading picture for fixed income evolving?
Moderator: Laurie McAughtry
Speakers: Alberto Martín Jusdado, Kate Finlayson, Angela Lobo, Pauli Mortensen

12:00 – Lunch

13:00 – Keynote – Nadia Calviño

13:10 – Bridging the financing gap: the role of private credit markets
Moderator: Andy Hill
Speakers: Paolo Grassi, Damien Guichard, Ruth Yang

13:40 – Securitisation markets and regulation: What lessons should we learn?
Moderator: Andrew Bryan
Speakers: John Millward, Janet Oram, Flávia Palacios, Avisha Sookhee

14:20 – Keynote: The Innovation Imperative - Transforming European Capital Markets – Dr. Stephanie Eckermann

14:30 – Break

15:00 – Concurrent sessions

Innovations in issuance – Meridian Hall, Level 2
Moderator: Isabelle Laurent
Speakers: Tom Ceusters, Dr. Tammo Diemer, Jessica Pulay, Nobuki Sato, Omar Sefiani
The state and future prospect for the repo market – Mistral Room, Level 2
Moderator: Gareth Allen
Speakers: Charlie Badran, Amanda Butavand, Sabine Farhat, Frank Gast, Michel Semaan

15:40 – Transfer to sessions

15:45 – Concurrent sessions

The future of primary debt markets – Meridian Hall, Level 2
Moderator: Armin Peter
Speakers: Tim Armbruster, Adam Bothamley, Christoph Hock, Audrey Metzger
Mobilising savings and investment – Mistral Room, Level 2
Moderator: William Wright
Speakers: Laurence Caron-Habib, Dr. Massimiliano Castelli, Daniel Murray, Elisabeth Ottawa, Rudolf Siebel

16:25 – Transfer to plenary – Meridian Hall, Level 2

16:30 – Headwinds and tailwinds shaping the sustainable finance market
Moderator: Nicholas Pfaff
Speakers: Jenny Bofinger-Schuster, Grover Burthey, Shinichi Kihara, Anjuli Pandit, Dr. Thorsten Pötzsch

17:10 – Keynote – Dr. Sabine Mauderer

17:20 – Closing remarks – Bryan Pascoe

17:25 – Close of first day

18:30 – 19:30 – ICMA German Regional Committee reception (by invitation only)
Hosted by KfW, Palmengartenstraße 5-9, 60325 Frankfurt am Main

19:45 – Gala reception – Gesellschaftshaus Palmengarten

09:00 – Exhibition open – Horizont Hall, Level 4
Conference – Meridian Hall, Level 2

09:30 – Keynote – Dr. Melanie Garson

09:40 – The AI revolution and its impact on the bond markets
Moderator: Etay Katz
Speakers: Santiago Braje, Vincent Gusdorf, Nini Nguyen, Emily Prince

10:20 – Digital transformation of capital markets: where do we stand?
Speakers: Thorben Lüthge, Henriette Koegel

10:40 – Break

10:40 – 11:20 – Closed-door roundtable on “Climate Transition Finance in Japan and the Next Steps to Decarbonization” (by invitation only) – Passat Room, Level 1
Speakers: Shinichi Kihara, Hideki Takada, Nobuki Sato, Reiko Hayashi, Motonobu Matsuo, Nicholas Pfaff

11:10 – Keynote – Samaila Zubairu

11:20 – In conversation
Speakers: Bryan Pascoe, Rodrigo Buenaventura

11:35 – Developing bond markets in emerging economies
Moderator: Natalie Westerbarkey
Speakers: Samuel Arkhurst, Philip Buyskes, Banji Fehintola, Jianyang Ma

12:15 – Building Resilience in the working environment
Moderator: Shruti Ajitsaria
Speakers: Nana Darko, Brian Heyworth, Georgina Jarratt, Janie Mines, Adeep Segkar

13:00 – Keynote: Geopolitics in the Age of AI
Speakers: Professor Simon Johnson

13:10 – Closing remarks
Speaker: Bryan Pascoe

13:15 – Lunch

14:30 – Close of conference