GCR Ratings, Africa’s largest rating agency, appoints new Chairman

03 May 2019 In GCR Communications

GCR Ratings, Africa’s largest rating agency, appoints new Chairman

Johannesburg, South Africa, May 03, 2019

GCR Ratings, the leading provider of credit ratings across Africa, today announced the appointment of Olivier Beroud as Independent Non-Executive Chairman. 

In his new role, Mr. Beroud will oversee GCR group governance, risk and compliance, and thought leadership in terms of GCR’s vision and strategic direction. GCR is an established market leader, accounting for the majority of all ratings accorded on the African continent.

Mr Beroud has over 20 years of experinece in the ratings industry, and he was previously Managing Director for EMEA at Moody’s Investor Services, and has also held senior roles at Barclays Bank and Standard & Poor’s.

Mr Beroud joins GCR at a time when the rating agency is implementing a new ratings framework to further enhance the transparency, quality and integrity of its ratings.  This new framework will complement GCR’s extensive “on the ground’ presence in African capital markets and deep understanding of local markets.

Commenting on the appointment, Marc Joffe, Chief Executive Officer of GCR Ratings, said: “We are delighted to welcome Olivier Beroud as Chairman of GCR Ratings. He brings a wealth of experience, having held very senior roles in the international ratings industry, and will provide valued expertise and oversight as GCR continues to augment its already dominant footprint across Africa”.

Global investment firm The Carlyle Group acquired a significant stake in GCR in 2017, and has been wholly supportive of GCR’s efforts in enhancing its senior leadership team, underpinning the company’s position as the preeminent rating agency in Africa.

About Global Credit Ratings

GCR is Africa’s leading rating agency, with a coverage in excess of 500 ratings in over 20 African countries. GCR is licensed as a rating agency in a number of markets, including Kenya with the Capital Markets Authority, Nigeria with the Securities and Exchange Commission, Zimbabwe with the Reserve Bank of Zimbabwe and Mauritius with the Financial Services Commission. In South Africa, GCR is registered as a Credit Rating Services Provider by the Financial Services Conduct Authority. GCR is also recognised as an eligible External Credit Assessment Institution (ECAI) by the South African Reserve Bank.

 

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