Fitch Ratings has lost two European structured finance professionals in London. Sarah Wall and Michael Cox, associate director and director, respectively, have recently left the rating agency.
Wall, who covered whole business securitizations, will join investment manager Prudential M&G on the credit research team in London at the end of the month. She will report to Stephen Wilson-Smith, head of credit research, who said Pru M&G aims to keep a good ratio of analysts to credits as the firm's investments continue to grow. Pru M&G runs £55.4 billion of fixed income assets in Europe and the U.K. and is unrelated to U.S. insurer Prudential Corp.
Meanwhile, Cox has started on the research team at Royal Bank of Scotland in London in a new role. He will focus on evaluating structured finance and whole business transactions and reports to Ronald Thompson, head of asset-backed securitization and structured finance research. Cox and Thompson were both out of the office and could not be reached.
Wall and Cox reported to Olivier Delfour, managing director. He was on vacation and could not be reached for comment.
The departures go both ways though. Fitch last month hired Emmanuelle Nasse-Bridier, head of Paris-based AXA Investment Manager's ABS/MBS group, as a senior director in the ESF team in Paris.