S&P creates new regional ratings title

Standard & PoorÆs has named Yu-Tsung Chang executive managing director and head of its ratings services in Asia-Pacific û a new position created to enhance the focus on its ratings business. Chang has been managing director of S&PÆs Ratings Services in Japan and Korea since 1999, and later also added Taiwan to his responsibilities.

In his new role, Chang will be in charge of the agencyÆs credit ratings business in Asia-Pacific, including Japan, Korea, India, Greater China, Southeast Asia and Australasia. He will be based in Tokyo and report to Tom Schiller, executive managing director of S&PÆs Asia-Pacific region.

ôStandard & PoorÆs has built a very strong platform in Asia-Pacific in recent years with leading market positions in key countries. Yu-TsungÆs in-depth knowledge of the credit rating business and exceptional experience of the regionÆs markets make him the ideal leader to drive our future growth and cement our position as the leading regional rating agency,ö says Schiller in a written statement.

Chang joined S&P in 1992, initially working as team leader for structured finance ratings in Tokyo. He took part in the early development of the securitisation market in Japan, which helped establish the rating agencyÆs position in that market.