S&P acquires Default Filter from IQ Financial
“This acquisition boosts Standard & Poor’s Risk Solutions’ capability to provide our clients with modelling services for middle market exposures around the world,” said Roy Taub, New York-based executive managing director of S&P’s global risk solutions unit.
The system is particularly effective in Asia, where a lack of historical data has hampered the development of internal systems within banks, added Melbourne-based Ken McLay, managing director and regional head of S&P Risk Solutions. “A lack of quality data has hindered the development of robust internal ratings-based methodologies, and banks are increasingly seeking external tools to assist in the assessment of credit risk,” he said.
As part of the acquisition, Singapore-based Corinne Neale, managing director at IQ Financial, joins S&P as a managing director.
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