McDaniel to head of Moody's investor services

International rating agency Moody's has made Raymond McDaniel president of Moody's investors service. He will manage Moody's global ratings and research businesses following a 14-year tenure with the firm.

McDaniel has been managing Moody's international department since 1996 following four years as head of its European business.

"Ray has been key to the development and implementation of Moody's global growth initiatives," said Moody's president and chief executive John Rutherfurd. "He knows every aspect of Moody's, the issuers and investors that we serve, and the markets in which we operate."

Brian Clarkson, Michael Foley, Christopher Mahoney, Chester Murray and Debra Perry have all been made senior managing directors of Moody's investors service, reporting to McDaniel.

Clarkson will head structured finance for the Americas, Foley will run ratings and research in Europe and Asia, relocating to London at the end of this year.

Meanwhile, Mahoney will manage the financial institutions group in the Americas and run Moody's global sovereign business. Murray will head research in Latin America, India and China, plus run managed funds and communications.

Corporate finance for the Americas and US public finance will be headed up by Perry.

Moody's has also hired Douglas Woodham from McKinsey and Company. He becomes a senior vice-president in charge of strategy, corporate development and technology for Moody's Corporation. Woodham's work involved identifying, prioritising and execution of business development opportunities, including acquisitions and strategic alliances.