Ed Bankole, managing director and head of non-mortgage servicer ratings at Moody's Investors Service in New York, plans to leave the rating agency next week, as first reported last week on BW's Web site (www.bondweek.com). Bankole, who has spent 12 years at Moody's and began as an analyst in the credit card group before moving up to become co-head of the term ABS ratings team, is one of the most well-known rating agency figures in the securitization market. He said he is resigning to take some time off and that he has not signed on to another employer, although he added that when he does return to work it will likely be in the structured finance world. "There comes a time when you say, 'this is the time,'" he said. Bankole said he does not have a timetable on when he will return to the working world.
Bankole recently took on a new role at Moody's to run its evaluations of non-mortgage servicers (BW, 5/31). He reported to Andy Silver, managing director and head of asset finance. Silver said Moody's plans to replace Bankole at the managing director level.
