The Covered Bond Report

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Scope hires Fuchs to expand into covered bond ratings

Former S&P senior covered bond analyst Karlo Fuchs has joined Scope Ratings as head of covered bonds, as the rating agency followed up on announcing a new CEO in September by unveiling six hires today (Tuesday).

Karlo Fuchs imageAt the beginning of September Scope Ratings appointed as CEO Torsten Hinrichs, who had previously been a managing director at Standard & Poor’s and regional head for German-speaking Europe, Scandinavia and eastern Europe.

“These well known, knowledgeable rating experts will help us close the reputation gap with the large rating agencies,” said Hinrichs. “Their joining brings us one step closer to our objective of becoming the European rating agency of choice.

“I am particularly delighted that Karlo Fuchs, one of the most experienced and competent Pfandbrief analysts, has joined us. Together with him and the bank rating team in London, Scope Ratings now covers the full spectrum of bank debt.”

Fuchs left Standard & Poor’s in February after 15 years at the rating agency.

The other five new hire (with their previous rating agency experience) are: Carlos Terré to the structured finance team (Fitch); Florian Stapf for corporates, banks and bank bonds in Germany, Austria, Switzerland and Scandinavia (S&P); Michael Mackenzie to business development outreach in structured finance (DBRS and S&P); Annick Poulain Thomas to head Scope’s analytical review function (Moody’s); and Christian Werner as chief human resources and public affairs officer – he previously worked at Allianz.