Fitch shifts MDs into new leadership roles over structured finance teams

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In a major shift in its structured finance organization leadership, Fitch Ratings has moved three of its managing directors into new roles leading the U.S. RMBS and structured credit teams, including a new global role in developing enhanced analytics across multiple asset classes.

Fitch has appointed Kevin Kendra as its new head of residential mortgage-backed securitizations and Derek Miller to lead structured credit at the ratings agency.

Grant Bailey, who previously led the North American RMBS and covered bonds group at Fitch for five years, will step into a newly created position in which he will help build Fitch’s “comprehensive agenda for thematic research, enhanced analytics and criteria that will cut across securitized asset classes and regions,” Fitch said in a news release.

Bailey has been with Fitch for 14 years, spent entirely within the U.S. RMBS group that he was appointed to lead in 2015.

Miller jointed Fitch in 2001 holding several roles in both new issuance and deal-surveillance for U.S. structured credit, which most recently saw him responsible for new-issue ratings of U.S. collateralized loan obligations.

He fills the role formerly held by Kendra, who has been at Fitch in numerous roles over 20 years. Before leading structured credit, Kendra had also been a group credit officer for Fitch’s U.S. and Latin America structured finance teams and held various positions in structured credit and commercial mortgage-backed securities groups.

Bailey will report to Marjan van der Weijden, Fitch’s global head of structured finance and covered bonds. Kendra and Miller will report to Rui Pereira, head of the North American structured finance and covered bond group.

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