NEW YORK--(BUSINESS WIRE)--Fitch Group has announced the appointment of John Olert as Group Chief Risk Officer, effective immediately.
A global leader in financial information services, Fitch Group is pursuing a more holistic and integrated approach to how it manages various types of risk. Mr. Olert's team is responsible for reviewing, monitoring, and addressing the multitude of risks that can impact the group's performance and reputation.
Mr. Olert was previously Chief Credit Officer for the group's Fitch Ratings unit. He was responsible for credit ratings and criteria oversight, quality assurance, market commentary and research. He also led a number of initiatives to improve recognition and communication of interconnected risks, including the launch of Fitch Credit Academy.
'Fitch Group is a broader business today with a more complex set of risks than ever before,' said Fitch Group President and CEO Paul Taylor. 'Whilst our largest business of credit ratings has become more heavily regulated, Fitch is also diversifying into other information sectors that face many of the same risks along with some new ones. John and his team have committed themselves to protecting and enhancing the quality of Fitch's process, products, and reputation - all of which are essential elements of managing risk.'
Fitch also announced the following senior appointments, reporting to Mr. Olert:
--Eileen Fahey succeeds Mr. Olert as Chief Credit Officer for Fitch Ratings. She previously served as Regional Credit Officer for the Americas. A former bank examiner with strong experience across all sectors, Ms. Fahey has played an important role in helping to evolve Fitch's credit policy in the wake of the global financial crisis.
--Jeremy Carter has been appointed to the newly-created role of Chief Criteria Officer for Fitch Ratings, enhancing the firm's ratings criteria process and ensuring the independence of criteria approval and model validation. Mr. Carter launched Fitch Wire in 2011 and has engaged with regulatory forums on criteria development and approval.
--Mary Metz remains Chief Compliance Officer for Fitch Ratings, further advancing the rating agency's important efforts to ensure regulatory and professional conduct compliance. During her 25 years with Fitch, Ms. Metz has worked in a variety of senior roles including co-head of U.S. CMBS and Regional Credit Officer for the Americas.
'Fitch remains focused on doing insightful, value added credit work and ensuring our robust processes, policies, and procedures are apparent to market participants,' said John Olert. 'While it is important that rules and regulations are followed, it is also important that history is appreciated and lessons learned are weaved into our corporate culture.'
Additional information is available at www.fitchratings.com.
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