Sandwiched between the brave new world of securitized assets and recording boatloads of revenue on the balance sheet is that dimly lit and somewhat pesky area known as oversight. One of the fixed-income market's first firms to burrow in and shed some light into this zone now has a new president - a sign that growth is occurring in credit risk management.

The Murrayhill Company named Kevin Kanouff its new president last week, and founder Sue Ellis, the former president and current CEO, shifted firmly into high gear as the chief executive.

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