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Thomas Lay
Head of Credit Flow Trading, Europe,
Natixis
Thomas Lay is Head of Credit Flow Trading Europe at Natixis, based in Paris. He has over 30 years of trading experience in fixed income markets, including Trading in Financials-and Corporates Bonds, Covered Bonds, German Laender Bonds, Asset Swaps, Government Bonds and Credit Derivatives. Thomas started his career in 1988 at Basler Kantonalbank, Switzerland, before moving to Caisse des Depots et Consignations, Frankfurt in 1991 as Head of German Government Bond Trading. In 1999 he joined CDC Marches as an asset-swap trader, and in 2001 he was appointed Head of Credit Trading Financials at the Corporate and Investment Banking arm of IXIS, now Natixis. In 2007 Thomas was named Head of Credit Trading Financials and Covered Bonds at Natixis in Frankfurt, and in 2009 he moved to Natixis’ head office in Paris as Head of Covered Bond Trading, before expanding his remit in September 2015 to oversee ABS and CLO trading in London. Back in Paris since 2022, he oversees Credit Trading of Covered Bonds, German Laenders, Financials, Corporates and High Yield Trading and personally runs the medium and long-term Covered Bond trading book. Thomas is a graduate of Frankfurt School of Finance and Management and Bankakademie, Freiburg, Germany.
Sessions
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18-Sep-2025STREAM IIWorkshop E: Southern covered bonds: trends, challenges and opportunities