John Olert, formerly the chief credit officer at Fitch Ratings, has been named group chief risk officer, a newly created position for parent company Fitch Group, according to a press release.
Olert leads a team responsible for reviewing, monitoring, and addressing the multitude of risks that can impact the group’s performance and reputation. He reports to Fitch Group President and CEO Paul Taylor.
In 2010 Olert was appointed as the rating agency’s chief credit officer, a position responsible for ratings and criteria oversight, quality assurance, market commentary and research. He has worked at the agency for 20 years.
"Fitch Group is a broader business today with a more complex set of risks than ever before," said Taylor. "Whilst our largest business of credit ratings has become more heavily regulated, Fitch is also diversifying into other information sectors that face many of the same risks along with some new ones."
Fitch also announced that Eileen Fahey succeeds Olert as chief credit officer. She previously served as regional credit officer for the Americas.
Jeremy Carter has been appointed to the newly-created role of chief criteria officer, enhancing the firm’s ratings criteria process and ensuring the independence of criteria approval and model validation. He launched Fitch Wire in 2011 and has engaged with regulatory forums on criteria development and approval. The two will report to Olert, along with Mary Metz, Fitch's chief compliance officer.