Professor Sascha Steffen appointed as a new member of the Advisory Scientific Committee of the European Systemic Risk Board (ESRB)

The European Systemic Risk Board (ESRB) has announced the appointment of Professor Sascha Steffen as a new member of its Advisory Scientific Committee (ASC) for a four-year term.

The ESRB, established in 2010, oversees the financial system of the European Union, aiming to prevent and mitigate systemic risks that could impact financial stability. Its scope encompasses banks, insurers, asset managers, shadow banks, financial market infrastructures, and other financial institutions and markets. The Advisory Scientific Committee plays a key role by conducting research that informs the macroprudential decisions made by the ESRB’s General Board, chaired by ECB President Christine Lagarde.

Sascha Steffen, Vice President of Research, Professor of Finance, and DWS Senior Chair in Finance at Frankfurt School, brings a wealth of expertise to the ASC. His research spans banking, corporate finance, and financial intermediation, with publications in leading journals such as the Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. He is a regular speaker at international conferences and meetings of central banks, governments, and international organisations. In addition to his academic achievements, Professor Steffen has substantial industry experience, having worked in credit risk management at Deutsche Bank in Frankfurt and New York prior to joining academia.

"I am honored to join the Advisory Scientific Committee. Ensuring financial stability is crucial for the resilience and prosperity of the European Union. At the Centre for European Transformation at Frankfurt School, we are dedicated to tackling these pressing issues, advancing research on sustainable growth and transformation in Europe. I look forward to contributing research-driven insights to support the ESRB’s mission to identify and address systemic risks in the financial system", says Professor Sascha Steffen.

The ESRB’s efforts in macroprudential oversight rely on the collaborative expertise of its committees. Professor Steffen’s appointment underscores the importance of academic research in shaping effective financial policy. Professor Steffen succeeds Professor Christian Gollier, Director of the Toulouse School of Economics, in this role.