S&P strengthens in risk solutions

Standard and Poor’s has made two appointments to its risk solutions team in New York.

Yuval Bar-Or joins the rating agency from its competitor Moody’s KMV to become global head of product management and development. Reporting to Roy Taub, executive managing director for risk solutions, he will be responsible for the evolution, roll out and ongoing deployment of credit risk products for S&P’s global client base. These products help clients with internal ratings systems, default probability modelling and credit risk portfolio management, S&P said.

Darren Davies becomes managing director for North American business development, joining from Fitch Risk. He will offer services to new and existing clients, including credit risk assessment templates, internal risk ratings, and validation and facility rating systems for financial institutions and corporations. Davies reports to Bill Chambers, head of the risk solutions North American practice.

S&P said the appointments were part of a drive to capitalise on the opportunities posed by advances in risk assessment and transfer techniques, as well as the challenges posed by regulatory tightening such as the Basel II Accord.