D Ravishankar, former executive director of Crisil, has taken charge as managing director, risk solutions business, Asia Pacific region - Standard & Poor's.
Meanwhile, Ritesh Maheshwari, former SME ratings head at Crisil, has been given the designation of director for financial sector ratings of S&P for the Asia Pacific region. He is currently based at Singapore. Crisil aims at bringing in products of parent company, Standard and Poor's to make India a knowledge gateway for global operations.
Speaking about the company's plans with regards the same, Crisil's CEO and MD R Ravimohan said, "The S&P network helps us leverage our domestic research to global audiences, who are hungry for data related to India. The next step would be to bring products designed by S&P to India."
As far as exporting S&P products are concerned, Crisil plans to bring the star-ranking system for rating equities and the pre-sale reports, which help investors decide when initial public offers come up. The Securities and Exchange Board of India recently granted an in-principle approval for introduction of optional 'grading' of public issues by unlisted companies, by credit-rating agencies registered with it.
The grading is intended to be an independent and unbiased opinion of the concerned agency. It would be a one-time exercise and would focus only on assisting the investor, particularly the retail individual ones, in taking an informed investment decision.
Apart from bringing in the products, Crisil is also examining the possibilities of utilising resources from the companies acquired by S&P and its parent, Tata McGraw-Hill Companies to cater to data requirements of corporates worldwide.
Till date, S&P has acquired research providers such as JD Power and Associates, Vista Research and Capital IQ. The US-based JD Power and Associates, which was acquired by the Tata McGraw Hills Companies in April 2005, provides research services designed for automotive manufacturers, suppliers, retailers, distributors and the financial market.
Vista Research facilitates access for institutional money managers and hedge funds to a broad network of industry practitioners. Capital IQ on the other hand, provides detailed information on public and private companies, private capital firms, transactions as well as executives across the globe.
For the investment banking community, Crisil is looking at establishing a database using the 'six links of separation,' offering a comparison across deals clinched in the M&A space.
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