TSI Training

Stefan Henkelmann is one of Germany’s leading capital markets lawyers and has extensive experience across structured finance, debt capital markets and related regulatory matters. He advises on a wide range of capital markets transactions, with a particular focus on securitisations, including true sale, secured loan and synthetic structures across a broad range of asset classes. His practice also covers other structured finance and derivatives transactions, including repackagings, secured notes, strategic equity and non-performing loan transactions.
Stefan Henkelmann regularly advises banks, financial institutions, asset managers, corporates, originators and investors on complex domestic and cross-border transactions. He has significant experience in bond transactions, including Pfandbriefe, covered bonds, structured notes, hybrid and corporate bonds, as well as bond restructurings. In addition, he advises extensively on the regulatory and insolvency law aspects of capital markets and structured finance transactions.
His clients operate across a range of sectors, particularly financial services, real estate, infrastructure, energy and alternative investments. Alongside his transactional practice, Stefan Henkelmann is a lecturer in capital markets law at the Institute for Law and Finance of Goethe University Frankfurt am Main. He is also a frequent author on capital markets law and emerging market developments, and regularly speaks at industry conferences and delivers training sessions for clients and market participants.

Christoph is Director and member of PwC's Governance, Risk & Compliance (GRC) practice in Germany. He has years of experience in providing consulting services and leading regulatory audits for numerous German and international banking clients. His focus areas are the current and future regulatory requirements for banks, i.e. Basel III and Basel IV including the corresponding EU implementation. Within PwC’s GRC team, he leads the cross-functional workstream on securitisations and supports various German and international clients with the implementation of the regulatory framework for securitisations. Further, he is responsible for the horizontal division “Regulatory Reporting and Disclosure Solutions” and thus takes care of related projects, audits and thought leadership activities. Besides, he is a frequent trainer for external and internal seminars on regulatory issues and publishes regularly in books, journals or blogs.

André is Executive Director and heads the structuring and outplacement unit in the LBBW Capital Management Unit (CMU). Over the past three years, he has been instrumental in setting up the CMU in the LBBW Group on a global level. The overarching goal is to implement various risk-sharing products and solutions (such as securitizations or non-payment insurance) for all asset classes and thus to be able to manage various KPIs of LBBW even better. Previously, André held various roles in LBBW's capital markets business (mainly in trading, sales and structuring) over the last 16 years.

Ulf Kreppel's practice focuses on cross-border securitizations and structured finance transactions. Amongst his clients are international financial institutions, investment firms and so-called "alternative capital providers".
With more than 20 years of product experience, Mr. Kreppel has extensive expertise in the structuring and execution of structured finance transactions. This includes public and private securitizations, asset-based lending and covered bond transactions, structured as stand-alone term transactions as well as asset-backed notes programs. Mr. Kreppel advises on a variety of asset classes, such as auto loans and leases, consumer credits, trade receivables and real estate loans. He also acts as program counsel for several European-based asset-backed commercial paper programs.
Mr. Kreppel has advised on a number of innovative and market-first transactions, including the purely blockchain-based issuance and settlement of asset-backed commercial paper. In addition, he regularly advises on regulatory aspects in financing transactions, e.g. on so-called "simple, transparent and standardized" (STS) securitizations as well as questions regarding the European Securitization Regulation. Mr. Kreppel has coauthored several articles on the legal risks and structural solutions for securitizations.

Salah has been a Director of STS Verification International GmbH since March 2023. He joined the STS Verification International GmbH team in July 2021, bringing in 10 years of securitisation experience gained through his work in the Credit and Securitisation team of Deloitte.

His responsibilities at Deloitte covered trustee and verification services for a wide range of clients in Germany (originators, investors and sponsors) in various synthetic and true sale transactions.

As a Senior Manager at Deloitte he was mainly responsible, as the lead manager, for the performance of agreed-upon procedures and credit file due diligences at banks in the context of securitisation and portfolio transactions for consumer, auto and mortgage loans. Salah was also responsible for the performance of several asset audits at medium-sized businesses with regards to trade receivables securitised in ABCP transactions.
Salah holds a degree (Diploma) in Business Administration from the University of Cologne.

Tina-Maria Thaumüller joined UniCredit and the ABS Structuring Team in October 2001. She has more than 20 years’ experience in originating and arranging asset-backed transactions in various asset classes. As a lead structurer she has been responsible for the structuring, execution and placement of UniCredit's main funding and SRT transactions and well as various true sale and synthetic ABS transactions for external clients.
She holds a master's degree in business administration (Dipl. Kauffrau) from the University of Munich.

András Vajda is CEO and Co-Founder of iconicchain, the company behind iconicSecurities, the platform for structured finance. He has more than 20 years of executive and technology leadership experience and has delivered over 30 securitization and regulatory compliance projects with multinational banks and regulators. Before iconicchain, he led several large-scale programs at Ericsson that became high-growth, high-margin businesses. András holds an MSc in Distributed Systems and is the author of several articles and a book.