Debt Ratings Agencies: Their Role in the Global Debt Capital Markets – Past, Present and Future. Part II
Presented by James Nadler and Mark Adelson
February 29, 2012 - Federal Reserve Bank of Philadelphia
Part II of the February 29th Debt Ratings Conference featuring a presentation on Issuer Paid Research vs. Investor Paid Research presented by Mark Adelson, EMD-Senior Research Fellow at Standard and Poors, Bill Hassiepen, Vice President at Egan Jones Rating Services, Jim Nadler, President and COO of Kroll Bond Ratings, and Michael McNiven, SVP and Portfolio Manager of Cumberland Advisors.
Speaker / Author
James Nadler is the President and Chief Operating Officer of Kroll Bond Rating Agency, Inc. Prior to joining Kroll, James was the Vice President for Corporate Development at General Re in the New England Asset Management Division. At General Re, James helped create a new platform for trading, settlement and reporting. His expertise in research and analytics at General Re was instrumental in maintaining client relationships while generating new revenue. Over the last two decades, James has held several roles in the world of financial analysis, working for mainstays in the ratings industry as well as independent research firms. As Executive Vice President at FitchRatings, he was responsible for strategy, budgets, hiring, product development, and credit rating criteria for the Structured Finance Group, which he led. He began his career as a senior accountant at PricewaterhouseCoopers and then become a ratings officer at Standard & Poor’s. He received a B.A. in Economics from the University of Kansas and an M.B.A. from Rutgers University.
Mark H. Adelson is EMD Senior Research Fellow at Standard and Poor’s. He was the former Chief Credit Officer of Standard & Poor’s. He joined S&P in May 2008.
Before joining S&P, Adelson was a founding member of Adelson & Jacob Consulting, LLC. The firm specialized in the areas of securitization and real estate consulting and operated from July 2007 to May 2008.
Until July 2007, Adelson was a managing director and head of structured finance research at Nomura Securities. At Nomura he authored numerous reports on a wide variety of securitization topics and worked closely with other members of the fixed income division toward enhancing Nomura’s securitization activities.
Before Nomura in February 2001, Adelson worked at Moody’s Investors Service for 9 1⁄2 years. From 1995 through January 2001 Adelson was a managing director in Moody’s structured finance group and, at various times, headed or co headed Moody’s ABS, MBS, and ABCP teams. Adelson joined Moody’s in 1991 as a senior analyst in the asset-backed commercial paper area.
Before joining Moody’s, Adelson practiced law for six years at the firm of Thacher Proffitt & Wood, where he worked on mortgage-backed securities transactions and related regulatory matters. Adelson is a member of the New York bar. He holds a JD from the University of Michigan (1985) and an AB in economics from Princeton University (1982).