Patrick Armstrong is a Senior Risk Analysis Officer at the Economics department of the European Securities and Markets Association (‘ESMA’), where he leads the team responsible for monitoring financial innovation and financial activities across the 28 Member States.   Among the topics the team has recently addressed are crowdfunding, contingent convertibles, alternative indices and MREL/TLAC financing needs.  Current areas of focus include the distributed ledger technology, machine learning, cloud computing and artificial intelligence.  The team is also responsible for putting in place the framework of ESMA’s product intervention powers, which will become effective on January 1, 2018. 

Before joining ESMA in 2012, Patrick was the Co-Head Global Investment Risk Management for State Street Global Advisors for 12 years.  He did his graduate work in Economics at The University of Michigan.  He has earned the CFA, FRM and PRM certifications.