Susan Knapp has been promoted to team manager for Latin America at Moody's Investors Service. Moving into a more business-oriented role from her prior tenure as senior credit officer of Latin American structured finance, Knapp will be responsible for strengthening the agency's position throughout the emerging region. Country officers Daniel Rua in Buenos Aires, Benito Solis in Mexico City and Luiz Tess in Sao Paulo will report directly to Knapp, who is fluent in both Spanish and Portuguese. She will also manage the relationship with Humphreys, Moody's affiliate in Chile. The new team manager of the region will report to Andrew Kimball, senior managing director for various regions. The prior head of Latin America, David Moniz, has been bumped up to managing director of Europe, Middle East and Asia and will be working out of London. No word yet on whether Moody's will fill the holes in the Latin America team left by the promotion of Knapp and the departure of analyst Tiziana DiTullio in late June.

Richard Gambel joins Fitch Ratings to head its London-based credit derivatives team. Gambel joins the team from the Bank of Montreal where he worked on the management of structured investment vehicles. And, in house, Fitch promoted its current head of derivatives, Huxley Sommerville, to lead Fitch's CMBS and RMBS securities team. Sommerville will oversee the agency's whole-business securitization activities as well.

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