S&P has hired an expatriate to lead the firm's Australian business.
Standard and Poor's (S&P) managing director Chris Dalton will be replaced by Australian expatriate and current country head of S&P's China operations John Bailey.
Dalton leaves the firm after 18-years at the end of July "to take a career break and is considering options for the next stage in his career", an S&P spokesperson confirmed.
Dalton became managing director of the Australasian arm of the global ratings, indices and data provider eight years ago, after three years in the S&P New York office.
"During his time at S&P, Chris has established the company as the market leader in credit ratings and indices, and overseen its growing presence in the Australian wealth management market," the spokesperson said.
"Bailey has almost 20 years experience at S&P, including stints in Melbourne, Taipei and Hong Kong," the spokesperson said.
"His appointment underscores our commitment to continue to grow our business in Australia and New Zealand.
"We anticipate a seamless transition, and continuity in our business strategy and approach."
S&P is in the process of notifying clients and a formal announcement regarding the changes will be made later this week, the spokesperson said.
The spokesperson would not confirm rumours that Allianz Dresdner Asset Management head of retail business Leanne Milton was about to be appointed S&P head of manager research.
In Part 2 of our exclusive series, we ask leading names to nominate their best investments, the most effective industry group and the importance of platforms.
Catholics revamp fixed interest »
Industry superannuation fund the Catholic Superannuation and Retirement Fund (CSRF) has revamped its fixed income portfolio.
Mercer backs alternatives »
Mercer has awarded $34.15 million in mandates to Tactical Global Management (TGM) and Lazard Asset Management to invest in alternative assets.
