Fitch Ratings has announced a regional shuffle of its international structured finance group, claiming it is making several key moves in response to the growing demand for its services in the sector.
As part of the new structure, Wit Solberg, director in its US commercial mortgage backed securities (CMBS) group, will pack his bags for Hong Kong to head up the non-Japan Asia structured finance group. Effective immediately, Solberg replaces Ben McCarthy, who takes on the reins of the newly created head of real estate investment trust (REIT) and property trusts ratings for Asia-Pacific.
McCarthy shifts to the new role after spending the past three-and-a-half years in the former position. Responding to the new title, McCarthy says: "The rapid growth of interest in REITs in Asian markets including Japan, Singapore, Malaysia, Hong Kong, Taiwan, Korea and China, as well as the recent consolidation in the Australian listed property trust sector has generated a significant increase in investor queries to Fitch and makes now the perfect time to be covering this sector."
Joining Solberg and McCarthy on the transfer trail, associate director Tino Jang moves from Fitch's financial institutions group to rate structured finance credits in Taiwan. Also taking up the call to arms, director Charles Chang transfers from the corporate ratings group to cover international structured finance ratings in Hong Kong, while Zhou Jie joins the Fitch family in Beijing as an associate director in its structured finance group.