Dominion Bond Rating Service (DBRS) made two key announcements last week: the formation of its European-based quantitative analytics team and the opening of its structured finance office in Paris. The European-based quantitative analytics team, based in London, will be led by Kai Gilkes, managing director, global quantitative analytics. Meanwhile, Managing Director Catherine Gerst will run the new Paris office. These announcements follow the recent formation of DBRS' EMEA structured finance team.
"DBRS's move to the region addresses strong market demand for a valid alternative and more competition in the rating business," the rating agency said in a release. "In addition, the lack of standardization and liquidity in the region's structured finance markets offers an additional opportunity to create value." Gilkes reports to Huston Loke, assistant group managing director for global structured finance at DBRS. In Gilkes' new position, he will be responsible for the development of structured finance quantitative analytics and lead a cross-group quantitative team. Prior to DBRS, Gilkes had global responsibility for structured finance quantitative analytics at Standard & Poor's.