National Asset-Liability Management Asia

The 11th annual National Asset-Liability Management Asia conference returns to Singapore. This must-attend event for decisions makers from central banks, sovereign investors, state pension funds & treasuries to come together and discuss the latest industry trends & challenges.

National Asset-Liability Management Asia

Welcome to the 11th annual National Asset-Liability Management Asia conference to be held at The Westin Singapore on 5-6 September 2018.

The two-day agenda is designed for senior decision makers charged with managing national balance sheets at central banks and sovereign wealth funds to discuss unique investment challenges and solutions to optimise portfolio returns.

Key themes of 2018 include:

  • How volatility will look in a post-QE era and what is the impact on real economy?
  • What are the major developments sparking increasing market uncertainties and their implications to reserves managers?
  • How changes in capital flow trajectory are affecting portfolio allocation among sovereigns?
  • What asset classes might be the solutions in a low return environment?
  • What are sovereigns’ outlook on RMB as a reserve currency and its pace of internationalisation?
  • How sovereigns optimise their risk management practices as investments continue to evolve and diversify?
  • What constitutes an adequate level of foreign reserves? How transparent should central banks be?

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Networking opportunities


Central Bankers/SWF Experts




Expert Roundtables

Expert Speakers Include

  • Eric Wolfe, Former Deputy Managing Director, Funds Management and Banking Department, Bank of Canada
  • Aniq Aziz, Director, International Markets & Investments, State Bank of Pakistan
  • Prisadee Jindahra, Director of Reserves Management, Bank of Thailand
  • Kimty Kormoly, Deputy Director General, National Bank of Cambodia
  • Nguyen Thi Nhung, Manager, Foreign Exchange Management Department, State Bank of Vietnam
  • William Oswald, Senior Vice President, Economics and Investment Strategy Department, GIC
  • Mark Perry, Head of Financial Markets, Reserve Bank of New Zealand
  • Hariyadi Ramelan, Executive Director – Reserves Management, Bank Indonesia
  • Pablo Sosa, Portfolio Manager, Portfolio Investments, Guardians of New Zealand Superannuation Fund

Eric Wolfe

Former Deputy Managing Director, Funds Management and Banking Department

Bank of Canada

Eric Wolfe has over 25 years applied experience in market, credit and operational risk management and was most recently Deputy Managing Director of the Funds Management and Banking Department at the Bank of Canada.  His previous roles have spanned asset management, credit derivatives, trading risk management and macroeconomic forecasting, across Asia, North America and Europe. 

Eric holds an M.A. in economics from the University of Toronto, is a CFA charterholder and has received the Professional Risk Manager designation

Aniq Aziz

Director, International Markets & Investment

State Bank of Pakistan

A Central Banking career spanning over eighteen years, he worked as focal point in transforming Central Banks’ Reserve Management operations on modern lines. His vast experience in Reserve Management area span well over a decade.

Currently, he is working as Director of International Markets & Investment Department; the department he is heading for the last 5 years. He is responsible for investment of overall foreign Exchange Reserves of Central Bank.

He is member of Bank’s Investment Committee. He also serves as visiting faculty of State Bank’s training institute. He regularly participates in Reserve Management related roundtables/meetings to represent Central Bank.

He holds masters degree with major in economics and finance.

Arnab Das

Global Market Strategist, Global Thought Leadership


Arnab Das is Global Market Strategist in the EMEA region, based in London, and a member of Invesco’s Global Thought Leadership team. He helps develop and communicate analysis and insight on the global economy and financial markets across asset classes for clients, media, governments and central banks. He works with Invesco’s investment teams across disciplines and regions and is a member of Invesco’s Global Investor Forum Advisory Council with a focus on global macro and emerging markets. Arnab’s research interests span economic policy, performance and reform; and economic and financial history.

Arnab joined Invesco in 2015 as Head of EM macro research for Invesco Fixed Income. He began his career in finance in 1992, and has served as Co-head of Economic Research & Strategy at Roubini Global Economics; Co-head of Global Economics & Strategy, Head of Global FX Research, and Head of EM Economics & Strategy at Dresdner Kleinwort; and Head of EEMEA Research at JP Morgan. He has also been a private consultant in global and emerging markets, as well as consulting with Trusted Sources, a specialist EM research boutique.

Arnab’s studies were in macroeconomics, economic history and international political economy. He received an AB from Princeton University in 1986 and completed his postgraduate and doctoral work at the London School of Economics in 1987-1992.

Kimty Kormoly

Deputy Director General

National Bank of Cambodia

Kimty has worked for the National Bank of Cambodia for 20 years. Currently he is heading the FX reserves management group and a permanent member of Investment Committee and lead the investment committee’s secretariat as well as member of Exchange Rate Committee to set the official exchange rate (daily). Moreover, he is a member of Monetary Policy Committee and Financial Stability Committee. Kimty hold a Master of Public Policy, 2001, from National Graduate Institute for Policy Studies (GRIPS), Japan and a Master of Science in Banking and Finance, 2006, from Luxembourg School of Finance, Luxembourg.

Johanna Lasker

Head of Central Banks & Official Institutions

BNP Paribas Asset Management

Johanna is the Head of Official Institutions for BNP Paribas Asset Management. She is responsible for managing and growing our official institutions business globally, which includes developing business, servicing clients and ensuring we are meeting the needs of this client segment. She originally joined FFTW, a predecessor of BNP Paribas Asset Management, in 1997. She then left the firm in 2000 and rejoined in 2004. She is based in New York.

In addition to working for BNP Paribas Asset Management and FFTW, Johanna worked in the Corporate Finance division at UBS for two years, where she was an Associate Director in the Consumer Products Group in New York. She later transferred to the Global Industrial Group in Japan where she lived for a year.

Johanna has 18 years of investment experience. She earned an MBA in Finance and International Business from New York University, and a BA in East Asian Studies from Stanford University.

Chi Lo

Senior Economist, Greater China

BNP Paribas Asset Management

Chi Lo is the Senior Economist, Greater China of BNP Paribas Investment Partners. He joined our company in 2010 through HFT Investment Management (HK), BNPP IP’s joint venture partner in China. He is based in Hong Kong.

Prior to joining our company, Chi Lo was Head of Overseas Investment at Ping An of China Asset Management (HK) Ltd. Chi’s other positions in Asia included Asia Research Head for the British private property fund Grosvenor, Chief Economist and Strategist for Asia at Standard Chartered Bank and Research Director for Greater China at HSBC in Hong Kong.

Chi did his economics graduate work at the London School of Economics and Political Science (LSE) in England and the University of British Columbia (UBC) in Canada.

Chi Lo has many years of international research experience in economics, financial markets and public policy & standards development, covering Asian and North American economies. He is the author of eight books on China and Asian economic development and markets. He has published research work in international periodicals and newspapers, and has appeared as a commentator on international media and speaker at international seminars, such as the World Economic Forum, Asian Development Bank, and House of Lords of the British Parliament. He has taught economics and finance courses at various universities in Hong Kong, and has spoken frequently at university finance courses and professional seminars in North America, Hong Kong and China. Chi’s latest book is “Chi Time on China and the Renminbi’ s Future” (2014).

Nguyen Thi Nhung

Manager, Foreign Exchange Management Department

State Bank of Vietnam


  • From 2009 up to now - Foreign Reserves Management Division - Forex Department – State Bank of Vietnam
  • From 2007 to 2009 - Foreign Reserves Management Division - Forex Department – State Bank of Vietnam
  • From 2005 to 2007 - Foreign Reserves Management Division - Forex Department – State Bank of Vietnam
  • From 2001 to 2005 - Capital Accounts Management Division - Forex Department – State Bank of Vietnam
  • From 2000 to 1997 - Exchange Rate and Forex Market Division - Forex Department – State Bank of Vietnam
  • From 1992 to 1996 - Current Accounts Management Division - Forex Department – State Bank of Vietnam


  • Bachelor - Hanoi Foreign Trade University, Foreign Trade, 1992
  • Master - Institute of Social Study ISS, Nertherland, Development of Economics, 1996


  • Guess speaker for Foreign trade University for 10 years: Master course on treasury, module: macro economics policies, especially monetary policies in opened economy, the case of  Vietnam;  module: credit law, State bank’s law.
  • Teacher for Staffs’ Education School of State bank of Vietnam from 2005 (for new staffs, senior official, deputy general directors, general directors) courses on: Forex management central bank’s activities and regulation; monetary policies, exchange rate polices, Credit Institution’s activities and regulation.
  • Teacher for Staffs’ Education School of State bank of Vietnam linked with INWENT, GIZ for senior staffs: Courses on monetary policies, exchange rate policies and Forex market.
William Oswald

Senior Vice President, Economics and Investment Strategy Department


Will is a senior vice president in GIC’s Economics and Investment Strategy Division. He is responsible for global fixed income, currencies and commodities analysis, and economic analysis for Europe.

Will joined GIC in 2016, after more than 20 years’ of experience in the banking sector. Prior to GIC, Will spent 5 years at Standard Chartered, as global head of fixed income, currencies and commodities research, and a member of the bank’s Executive Leadership Team. At Standard Chartered, his teams were ranked in the top 3 across their respective sectors. Before Standard Chartered, Will was at JP Morgan from 2005-2010 as global head of EM Quantitative Strategy, ranking first in Institutional Investor’s All Europe Research Team for EM Strategy every year. From 1995-2005, Will was at Deutsche Bank, working across London, Singapore and New York.

During his career, he has been a member of the Monetary Authority of Singapore’s Financial Research Council, the IMF Capital Markets Consultative Group, and the Institute of International Finance’s Committee on Sovereign Risk Management.

He holds a Masters in Philosophy, Politics and Economics from the University of Oxford.

Mark Perry

Head of Financial Markets

Reserve Bank of New Zealand

Mark Perry joined the Reserve Bank as Head of Financial Markets in September 2012.

Mr Perry has a strong background in financial markets, having spent more than 20 years in senior roles in New Zealand, Australia and the UK.

This included a 15-year career with the BNZ, including five years as its Head of Financial Markets.

Mr Perry has a commerce degree from Victoria University and has completed post-graduate study in psychology.

Pablo Sosa

Portfolio Manager, Portfolio Investments

Guardians of New Zealand Superannuation Fund

Within the Portfolio Investments team, Pablo is responsible for identifying & implementing bespoke investment strategies, utilising public & private debt markets; funded and synthetic participations, which are accretive to the Guardians of New Zealand Fund’s objectives. His mandate extends across asset classes, seeking to monetise risk premia, particularly where excess returns arise from dislocation, regulation or other exogenous constraints imposed upon markets. Before joining Portfolio Investments, Pablo held a number of positions at the fund, including the role of Senior Investment Strategist.

Prior to his move to New Zealand, Pablo was Head of the Treasury Division of Unilever in Argentina. Before this tenure, he was seconded to Unilever in the Dominican Republic, where he headed Supply Chain Finance.

Pablo is a CFA charterholder, a Chartered Accountant from the Universidad de Buenos Aires, Argentina, and holds a specialisation in Finance from the Universidad de San Andres, Argentina.

Westin Hotel Singapore

The Westin Hotel, Singapore

12 Marina View
Asia Square Tower 2
Singapore, 018961, Singapore
T: (65) 6922 6888

Venue information