Two More Veteran MBS Execs Leaving S&P in Reorg?

Two more Standard Poor’s executives whose respective roles have included oversight of mortgage-backed securities ratings are leaving the company, possibly as part of an ongoing reorganization, according to a recent Wall Street Journal report. 

According to the Dec. 29 report, Vickie Tillman, who has been an executive vice president at the company, has been in talks about a departure. Also the report indicated Joanne Rose, who had worked in SP’s structured finance operations in the past, was slated to leave this month. 

A spokesman for SP would not comment. 

The company said in a press release earlier last month that it has been reorganizing. Among those whose positions have changed as a result of the reorganization are chief credit officer, Mark Adelson, who was a veteran mortgage-backed securities and structured finance analyst. His position is now, instead, senior research fellow. Also SP’s global head of structured finance, David Jacob, left at the end of last year. 

SP is searching for someone to fill a new chief risk officer position it is creating as part of the company’s restructuring. The company has had a risk committee but not previously had a CRO, per se, the spokesman said. Rose has served on the risk committee.

Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_509/mbs-execs-leaving-sp-1028162-1.html

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