Fitch Ratings plans to move its Italian structured finance team to Milan on Jan. 1. Patrizia Lando, senior director and head of the Italian structured finance team in London, said it is moving the team because of the increasing importance of the Italian market. "There needs to be someone there to explain the deals to investors and be close to the clients," said Lando. The move follows the increasing independence of Italian structuring desks, explained Lando, adding that previously Italian firms would work with a London based investment bank to structure the deal and that the investment bank would chose the rating agency. But, now most of the decisions come straight from Milan.
Susannah Turnbull and Alessandro Settepani, in the CDO group, will also move to Italy. Lando said the rating agency also has one more hire for the Italian desk in the pipeline, but declined to elaborate.
