Karlo Fuchs, senior covered bond analyst at Standard & Poor’s, is leaving the rating agency tomorrow (Friday) after 15 years.

Fuchs has long been a key member of S&P’s covered bond rating team, after having earlier on worked in the rating agency’s financial institutions group covering banks in German-speaking countries.

The Covered Bond Report understands that Fuchs will not be moving on to another position in the covered bond industry but will be taking a break.