Deven Sharma is the first Indian to be appointed as president of Standard & Poor’s. Sharma was the executive vice-president of S&P’s investment services and global sales since last November. He replaces Kathleen Corbet and will be directly reporting to Harold McGraw III, chairman, president and CEO of The McGraw-Hill Companies.
Sharma’s foremost assignment now is to defend S&P before regulators and lawmakers in the West who are questioning the agency’s decision to assign high ratings to securities of poor quality.
“Deven’s strategic thinking and deep understanding of global financial markets will help us continue to identify and benefit from the opportunities in financial markets,” said McGraw.
Before joining McGraw-Hill, Sharma had a 14-year stint as a partner with Booz Allen Hamilton, the global management consulting company.
Standard & Poor’s is one of the world’s foremost advisory companies. Its width of products and services include ratings and risk assessment, gas and infrastructure advisory, economic advisory, integrated research on the economy, industries and companies, global equity research, fund services, and risk management.
In India, Standard & Poor’s is operating through Crisil. The company has a majority stake in Crisil.