DBRS Taps Nicola James as Co-Head of Sovereign Ratings

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DBRS named Nichola James as co-head of sovereign ratings. At the same time, Fergus McCormick, who had been head of sovereign ratings since 2010, will now be chief economist and co-head of sovereign ratings.

Both positions are effective Tuesday, Aug. 16.

In his new role, McCormick, who will continue to be based in New York, will oversee sovereign ratings outside Europe and focus on forward-looking research on global credit risk and macroeconomic issues. James, who will be based in London, will manage DBRS’s European sovereign ratings team.

Both will report to Alan G. Reid, group managing director, head of the global financial institutions and sovereign ratings groups.

James joins DBRS from MUFG Group, where she spent the past six years as director, country risk team, EMEA. Prior to that, she was a senior manager/economist, for foreign exchange and fixed income sales and trading at Lloyds Bank. James holds BA and MA degrees from University College London and an MBA from Warwick Business School.

McCormick has been at DBRS since 2006. Before joining the rating agency, he was an economist at Morgan Stanley, an emerging markets strategist at Bear Stearns, a sovereign Analyst at Fitch Ratings and Duff & Phelps Credit Rating, and an economist/statistician at the Inter-American Development Bank. McCormick holds degrees from the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University and Reed College.

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