Foundations of Central Banking

Kenneth Sullivan was until 2015 a senior financial sector expert with the International Monetary Fund. Previously, he spent seven years at the Reserve Bank of New Zealand as chief manager of both Accounting and Corporate Services, where the bank won accounting prizes for the transparency of its published financial statements. Prior to that, Sullivan provided a financial management information system consultancy, held senior accounting roles in insurance and wholesaling, and worked in education. Starting in 1993, he served as accounting expert on IMF missions, providing accounting technical assistance to central banks around the world, organised and presented at central bank accounting workshops and participated in Financial Sector Assessment Program and Safeguard Assessment.

Francesco Papadia is the chair of the Selection Panel of the Hellenic Financial Stability Fund (HFSF). He was director general for market operations at the European Central Bank from 1998 to 2012. Previously, he held positions at the Bank of Italy, initially as director of the international section of the research department and later as deputy head of the foreign department. He holds a law degree from the University of Rome and undertook postgraduate studies in economics and business at the Istituto Adriano Olivetti in Ancona and at the London Business School.

Anand Sinha joined the Reserve Bank of India in July 1976, becoming deputy governor in January 2011. He was an adviser at the RBI until April 2014, after resigning as deputy governor in January 2014. As deputy governor, Sinha was in charge of the regulation of commercial banks, non-banking financial companies, urban co-operative banks and IT, among other areas. He has been closely associated with banking sector reforms in India.

Sinha has represented the RBI in various Bank for International Settlements committees and groups, such as the Basel Committee on Banking Supervision, Policy Development Group, Macroprudential Supervision Group, Macro Variables Task Force and the Committee on the Global Financial System.

He has also represented India on the Group of 20’s Working Group on Enhancing Sound Regulation and Strengthening Transparency. Sinha was the chairman of the governing council at the Institute for Development and Research in Banking Technology, a research and development institution on financial sector technology, set up by the RBI. He was also a member of the board at the Securities and Exchange Board of India.

Sinha holds a master’s degree in physics from the Indian Institute of Technology, New Delhi.

Since retiring from the RBI, he works as a financial sector consultant with a few organisations, some of which are multinational. Sinha is also a consultant for the International Monetary Fund, and gives lectures on financial sector issues both in India and abroad.

Jennifer Johnson-Calari is an expert in reserves management, having created and led the World Bank’s Reserves Advisory and Management Program (Ramp). Working with the International Monetary Fund, she helped set global best practice for sovereign asset and liability management. She most recently co-authored with Dr Adam Kobor a series of White Papers on reserve management for Invesco. She also chairs annually Central Banking’s Nalm conference.

She began her career as a banking supervisor with the Federal Reserve Board. She holds degrees from Harvard Business School and Johns Hopkins University, and is a Chartered Financial Analyst.

Klaus Löber is the Chair of the CCP Supervisory Committee (CCP SC) in ESMA, which was established in 2020. His areas of responsibility encompass the tasks attributed by the European Market Infrastructure Regulation (EMIR) to the CCP SC, in particular the enhanced supervisory convergence towards EU CCPs and ensuring a resilient CCP landscape in the EU as well the monitoring and supervision of CCPs established in third countries in view of the risks that they may pose to the EU financial system. He is also chairing the ESMA CCP Policy Committee contributing to the EU Single Rule Book in the area of CCPs.

Prior to this role, Mr Löber was the Head of the Oversight Division of the European Central Bank in charge of the oversight of financial market infrastructures, payments instruments and schemes. Earlier positions include the Head of the Secretariat of the Committee on Payments and Market Infrastructures, the global standard setting body in the area of payments, clearing and settlement as well as positions in the European Commission, Deutsche Bundesbank and private practice.

Mr Löber regularly publishes on financial markets legal, regulatory and infrastructure issues and lectures at universities.