Fitch Ratings has created two new portfolio risk officer positions, in which high-level executives will enhance analytical oversight, experience and training to all structured finance groups. Glenn Costello, a managing director who was co-head of the rating agency's U.S. RMBS group, won a promotion as portfolio risk officer of the structured finance group. He reports to group managing director John Bonfiglio, according to Fitch. Managing director Stuart Jennings, formerly head of Fitchs European RMBS team, is now portfolio risk officer for EMEA structured finance, reporting to group managing director Ian Linnell.
Group managing director Huxley Somerville becomes head of Fitch's U.S. RMBS group, also reporting to Bonfiglio.
"The portfolio risk officer will bring enhanced analytical oversight, experience and training to all structured finance groups by working with each of them in identifying important trends, ensuring our analytical process is both rigorous and balanced, and helping to identify and encourage strong opinion and research opportunities," said Paul Taylor, head of global structured finance for Fitch.