The personnel shakeup at Moody's Investors Service is seemingly over, as last week the rating agency promoted Michael Kanef to new group managing director of U.S. asset finance ratings. Kanef takes over for Andy Silver, who announced his resignation to accept a lecturing position at Rutgers University. Silver's departure, effective in mid-July, marks the second high-ranking managing director to leave the rating agency in June, following Ed Bankole's resignation the previous month.
The made-over asset finance group now consists of Pramila Gupta and Jay Siegel, who jointly run RMBS; Jay Eisbruck, Linda Stesney and Milton Chacon, who head term ABS; and Claire Robinson, who oversees ABCP. All now report to Kanef. As part of last week's announcement, Stesney, who had headed Moody's' Latin American securitization group, was promoted to team managing director. Her replacement in the LatAm group has yet to be named.