S&P taps Hu for China role

Ratings agency internally appoints new China head.

As its business expands in China, Standard Poor's has announced the key appointment of Dr Joseph Hu as its new country head. In his new role, Hu will work out of the rating agency's Beijing offices and will report directly to Tom Schiller, SP's Asia-Pacific regional head.

Responding to the demands of investors and other market participants for enhanced China coverage, Hu will manage the firm's expanding activities, which includes financial analysis, information and benchmarks. His appointment also follows increased interest in the ratings agency's risk management services for larger Chinese banks, which are developing enhanced internal ratings systems to comply with the Basel II global capital adequacy regime.

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