Retired Chief Risk OfficerCitigroup, Inc.Director since April 2011Jorge A. Bermudez, age 70, is a member of the Audit, Governance & Nominating and Compensation & Human Resources Committees of the Board of Directors. Prior to becoming chief executive officer, he was the chief operating officer and held various additional roles. 2023 Moody's Investors Service, Inc., Moodys Analytics, Inc. and/or their affiliates and licensors. Looking at the risk profile of the Swedish corporate bond market reveals several notable trends. She is also a member of the Dell, Zoom and AWS North American Customer Advisory Boards, and sits on the AEA Investors LP Senior Advisory Council. From 1987 to 1996, Ms Seidman served as Vice President, Accounting Policy and in other roles at J.P. Morgan & Company, Inc. (now JPMorgan Chase) and from 1984 to 1987, Ms Seidman served as an auditor for Arthur Young & Co. (now EY). From 2019 to 2021, Ms. Kazanjian held various people leadership roles at WeWork, leading into her role as Chief People Officer. Crystallisation of tail risks can drive large shifts in credit conditions, The COVID-19 pandemic and Russia's invasion of Ukraine demonstrate that when. Flexibility: Provides universal identifiers, such as CUSIPs and SIC codes; primary keys for complex querying; and classifications for debt type, rating type, and region, as well as flags. (2), Mali
(6), South Korea
(2), Kuwait
These impressive results are the product of the many investments we have made in our people and our offerings and speak to the value that customers place on our expertise and solutions. (6), Comoros
Moodys Analytics helps financial institutions develop collaborative, auditable, repeatable, and transparent stress testing programs to meet regulatory demands. (6), El Salvador
Moody's municipal ratings are opinions of the investment quality of the issues and issues in the US municipal and tax-exempt markets. Mr. Goggins joined the firm in 1999 as Vice President and Associate General Counsel. Default, Transition, and Recovery: Global Corporate Defaults Push Past 2021's Year-End Total S&P Global Ratings Ratings360 (FOR RATED ISSUERS) S&P Global Market Intelligence CreditPro View our upcoming events. Earlier in his more than 30-year financial services career, he held senior positions with Deutsche Bank, Wasserstein Perella Group and Kidder Peabody & Co. Mr. Van Saun has served on a number of boards in both the U.S. and the U.K. Ms. Alsop currently serves on the Trident American Dreams Advisory Board and is a founding member of the Womens Business Resource Group at Moodys. (9), Slovakia
(Hons) in Russian and European Studies from the University of Surrey and speaks fluent Russian. The statistics over the 36 year study period should give confidence to investors in highly rated bonds. Mr. Kenney also oversees risk assurance for the Corporation. Chairman of the Board of DirectorsMoodys CorporationDirector since April 2003 Raymond W. McDaniel, Jr., age 64, has been the Chairman of the Board since January 2021. (1), Michigan
Within financial markets, an asset's probability of default is the probability that the asset yields no return to its holder over its lifetime and the asset price goes to zero. Mr. Forlenza served as Chief Operating Officer from July 2010 to October 2011. All rights reserved. If these default rate forecasts crystalize, the pandemic induced default cycle will be relatively mild comparing with prior recessionary default cycles whose peaks ranged from 9.7% to 13.3%. His service as a director also contributes to his focus on corporate governance matters. (1), Tennessee
(2), Malaysia
SEE APPLICABLE MOODYS RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODYS CREDIT RATINGS. Weekly Market Outlook Markets, Bankers and Analysts Differ on 2021's . "As central banks and governments responded rapidly with significant fiscal and monetary measures to mitigate the impact of the crisis, the pace of defaults also began to slow. (1), Mississippi
We introduced the firm's default heterogeneity into the model, and each firm's actual past default situation was considered for Bayesian estimation. (2), Laos
(1), Hawaii
The markets looked to Moodys for our expertise and insights in navigating evolving credit conditions, and many organizations sought our help in making better, more informed decisions in financing, screening, lending, insuring and investing. (2), Financial stability risks: implications of rising corporate leverage
His substantive expertise extends to enterprise collaboration services, artificial intelligence and user experience. 1 (2), Cuba
Decisions around classification of assets into different stages and the calculation of the expected credit losses require consideration of forward . (2), Brazil
Mr. Goggins holds a J.D. (2), Canada
He served in a variety of positions while at Deloitte, served as Global Director of Compliance for Take Two Interactive and Internal Auditor at Staff Builders Home Health Care.Mr. This data file precedes Fitch's published 2020 transition and default studies. Methodology
He holds an undergraduate degree in Economics and Business Administration from the University of Notre Dame and an MBA in Finance, Marketing and International Business from the Stern School of Business at New York University. During her tenure, the FASB established numerous accounting standards relating to financial instruments, including securitizations, derivatives and credit losses and worked with regulators and policy makers in the U.S., and in other major capital markets to develop consistent accounting standards. Previously, he served as Counsel for Dow Jones & Company from 1995 to 1999 during which he was responsible for SEC compliance, corporate finance, executive compensation, investor relations, and negotiating acquisitions, depositions and joint ventures. There were differences in default rates across sectors. However, MOODYS is not an auditor and cannot in every instance independently verify or validate information received in the rating process or in preparing its Publications. He currently serves as President of the Moodys Foundation and is a member of the Board of Directors of BitSight Technologies, Inc. (2), Ireland
(2), Cook Islands
(2), Bolivia
By continuing to access this document from within Australia, you represent to MOODYS that you are, or are accessing the document as a representative of, a wholesale client and that neither you nor the entity you represent will directly or indirectly disseminate this document or its contents to retail clients within the meaning of section 761G of the Corporations Act 2001. (1), Kentucky
While default risks are growing, the global speculative-grade default rate is not likely to rise sharply over the next 12 months. (6), India
(5), Yemen
(6), Papua New Guinea
Bermudez brings a history of executive experience at a major international financial services company. He began his career in the investment banking division of Credit Suisse First Boston. This rating is assigned to less creditworthy carriers and securities by the ratings . Credit Transition Model (CTM) Methodology
We are focused on providing a world-class experience for our customers, anchored around their sense of value, to help expand our relationships with them as we meet their needs.I am confident that we will realize the benefits of our investments as we provide differentiated integrated solutions that accelerate our growth. (1361), Asia Pacific
. This page provides a central resource for Moodys research on default risks, impairment and loss rates, ratingtransitions and performance, and liquidity studies. Chief of StaffTameka Alsop is Managing Director, Chief of Staff to the CEO at Moodys Corporation and a member of the Executive Leadership Team. (1), Arkansas
He served as the Executive Group President, Group Leader, Civil and Commercial Group, from 2013 to 2016, as Executive Vice President, Client Services Officer, from 2009 to 2013, and as Vice President, Strategy and Organization, from 2000 to 2009. (7), Economic and Monetary Community of Central Africa (CEMAC)
Ms. Elliott leads Moodys dialogue with key stakeholders including employees, policymakers, government officials and media to deepen understanding of the companys unique value proposition as a global integrated risk assessment firm in addressing corporate, financial, and economic challenges. She also held various leadership positions across the organization including roles in Business Process Management and Ratings Operations, Investor Relations, Structured Finance Surveillance, Public Finance, Business Planning and Revenue Accounting. The table shows how the Portfolio's average annual total returns for one year, five years and since inception compare to those of selected market indices. (7), Macao SAR, China
She also serves as the Senior Independent Director at National Grid plc (March 2014-present).Ms Esperdys extensive experience in global investment banking and financial markets provides her with strategic and financial expertise that is critical to overseeing the Companys strategies. Ms. Kazanjian holds a J.D. Mr. Bermudez joined Citigroup in 1975 and held leadership positions in other divisions, including equity investments, credit policy and corporate banking from 1984 to 1996. (5), Palau
(527), Asia-Pacific Economic Cooperation (APEC)
All Rights Reserved. DRA also publishes impairment and loss studies for structured finance sectors. our global press information hotlines: New York +1-212-553-0376,
(1), Alaska
Executive Vice President Chief Financial Officer and TreasurerBooz Allen HamiltonDirector since March 2021 Lloyd W. Howell, Jr., age 55, is a member of the Audit, Governance & Nominating and Compensation & Human Resources Committees of the Board of Directors. (6), Switzerland
Her experience as the Chairman of the Financial Accounting Standards Board, executive at a major bank and auditor for a major accounting firm allows her to bring to the Board significant knowledge of global accounting and financial reporting matters in addition to regulatory and senior management experience. (370), West African Economic and Monetary Union (UEMOA)
". Prior to that, Mr. Howell held a variety of leadership positions since originally joining BAH in 1988. (1), Texas
To help address the emerging cyber risk segment, in 2021 Moodys invested and partnered with BitSight, a pioneer in cybersecurity ratings and analytics. (1), South Carolina
(6), Equatorial Guinea
Stockholders and other stakeholders may communicate with the Board, or with a specific director or directors, by writing to: 2022 Moodys Corporation, Moodys Investors Service, Inc., Moodys Analytics, Inc. and/or their licensors and affiliates (collectively, MOODYS). He also serves as the Chairman of the Audit Committee of The Bank Policy Institute. He currently serves as a member of the Board of Trustees of Lehigh University since rejoining the Board in July 2020 after previously serving from 2011 to 2017. (975), Financial Institutions
(2), St. Vincent and the Grenadines
(2), Brunei Darussalam
Sharon OuVP-Sr Credit Officer/Mgr/CSRCredit Strategy & Standards Moody's Investors Service, Inc. These capabilities are already helping customers better identify, measure and manage a wider range of risks leading to better outcomes.As the pace of digitization and automation continues, so has the prevalence of cyber risk. Financial specialist with 5+ years of experience across quantitative research, macroeconomic analysis, and data science. To estimate the long term country equity risk premium, I start with a default spread, which I obtain in one of two ways: (1) I use the local currency sovereign rating (from Moody's: www.moodys.com) and estimate the default spread for that rating (based upon traded country bonds) over a default free government bond rate. She previously held a variety of communications positions at American Express and was a journalist for ABC News, where she earned an Emmy award. NOTE TO JOURNALISTS ONLY: For more information, please call one of
Study shows repeated company defaults usually reflect prolonged industry stress. Ms. Alsop has more than 20 years of experience helping drive positive change and business results at Moodys. Platt is SVP & Chief Strategy Officer for Moodys Corporation, with responsibility for Global Corporate Development and Corporate Affairs, which encompasses Global Communications and Branding, Corporate Social Responsibility and Government, Public & Regulatory Affairs. We also advanced the transition of our banking and insurance solutions to SaaS, deepening and streamlining the ways we support many mid-sized financial institutions. Exposure at default is an estimated value that predicts the amount of loss a bank may experience when a debtor defaults on a loan. Breed currently serves as the Treasurer for the Skating Club of New York. Mr. Kapusta started his career in government, where he served as a senior court attorney for the New York State Supreme Court, Appellate Division, Second Department. (8), Sovereign & Supranational
(2), Estonia
(2), South Africa
(1), West Virginia
(191), Rating Transition Studies
As a senior executive at JPMorgan, she played key roles in managing JPMorgans Asia and capital markets businesses through challenging financial climates. (1), Rhode Island
(167), Structured Finance
Prior to joining Oppenheimer in 2013, she held a range of senior technology and finance leadership roles at Apollo and PricewaterhouseCoopers. Our commitment to environmental sustainability includes accelerating our net zero emissions target by ten years, from 2050 to 2040, consistently engaging in the ongoing global dialogue around ESG and climate disclosures, and executing on our public decarbonization plan.We are proud that our efforts led to recognition as a 2021 Global Compact LEAD company and an A List score from CDP, recognizing Moodys as one of a small number of high-performing companies that are leading actions to cut emissions, mitigate climate risks and develop the low-carbon economy. Held various additional roles across quantitative research, macroeconomic analysis, and data.... And licensors, Asia-Pacific Economic Cooperation ( APEC ) All Rights Reserved more information, please call one study! In highly rated bonds, Slovakia ( Hons ) in Russian and European from... 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