Former Standard & Poor's chief credit officer Mark Adelson has joined BondFactor as the firm's chief strategy officer. Today is Adelson's first at his new company. He left S&P in August.

Adelson's last stint at the rating agency was as a senior research fellow. He joined S&P in May 2008 as the firm's chief credit officer and was instrumental in strengthening S&P's criteria process. During his stint, Adelson oversaw the development of ratings comparability across sectors and geography, which included the agency's structured finance methodology.

He was named senior research fellow in December 2011 after a reorganization that saw David Jacob, who was then global head of structured finance, leaving the firm.

Before S&P, Adelson also held different positions at Nomura Securities and Moody's Investors Service. He also started a consulting firm with Jacob called Adelson & Jacob Consulting.

Bondfactor is set to provide a municipal bond guaranty with its creditworthiness supported by a patented, self-capitalizing balance sheet that expands the pool of claims-paying resources as additional bonds are guaranteed.

According to the firm's Web site, its proprietary business model results in significantly lower financial leverage thus offering companies an increase in claims-paying resources versus the legacy bond insurers.

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