Standard & Poor’s has merged two divisions and placed Gavin Gunning as head of the newly formed financial services ratings group for Australia and New Zealand.
The move combines Standard & Poor’s financial institutions ratings group and the insurance ratings group, reflecting industry consolidation among banks, insurance companies and other financial businesses.
“The emergence of bancassurance and the investment by banks in funds management businesses requires a broader and deeper analytical approach,” Standard & Poor’s Australasian managing director Chris Dalton says.
Gunning has worked for Standard & Poor’s for nearly seven years and was head of the financial institutions ratings criteria in the Asia-Pacific region for the past two. He has analytical experience with Australian and New Zealand financial institutions primarily gained at Standard & Poor’s.
The new head will remain involved with Asia-Pacific management issues, while focusing on his analytical role in Australia and New Zealand.
“The main difference in this role will be the intense focus on Australia and New Zealand, along with a lot of Insurance responsibility,” Gunning says.
In the new position, Gunning and a team of nine will be involved with ratings for over 120 institutions. He says further growth in staff is expected due to the merge and reshuffling of the analyst team.
Prior to Standard & Poor’s, Gunning spent eight and a half years at National Australia Bank (NAB), most recently in the global treasury department. Previously Gunning worked in the group strategic development area following one year in retail.
Gunning reports to managing director financial services ratings, Asia Pacific, Ian Thompson.
