The COVID-19 pandemic has proved to be the perfect trigger to the current economic recession, but the global economy was already weak and debt levels were at all times high. When we published our annual report on the “Defaults and returns in the high-yield bond and distressed debt markets” in late February, 2020 (Altman & Kuehne, 2020), the credit cycle was still in a benign state, albeit with some unmistakable storm clouds on the horizon. The four indicators of credit cycle dynamics that we assess were pointing to a fairly average credit environment condition, although a few were approaching the…
Author: Dr. Gabriele Sabato, Co-founder and CEO Wiserfunding
Author
Dr. Gabriele Sabato, Co-founder and CEO Wiserfunding
Gabriele is an experienced risk management professional who has worked for several financial institutions and consultant companies across the world in the last 18 years. Before founding Wiserfunding together with Professor Altman, he was Head of Risk Appetite Portfolio Decisioning for the Royal Bank of Scotland and Natwest. Prior to this role, Gabriele was Head of Credit Risk Portfolio Management for Ulster Bank and Global head of Credit Risk Analytics for ABN AMRO. Gabriele holds an M.Sc. and a PhD. in Finance from “La Sapienza” University in Rome. He was a visiting Scholar at the Stern School of Business of the New York University.
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