S&P President resigned

The President of the Standard & Poor's Ratings Services agency Niraja Sakhai resigned to “take advantage of other capabilities,” reports The Financial Times .

The acting president was appointed Acting Vice President of the McGraw Hill Financial personnel, John Berispord.

Niraj Sakhai was appointed President S&P in November 2103, taking office on January 6, 2014. Prior to this, he headed the CITIGROUP unit for operations with securities and maintenance of funds.

Sakha worked in the agency for less than two years. The media connected his resignation with internal personnel rearrangements due to the future optimization of the work of subsidiaries McGrow-Hill Financial.

Sakhay had to participate in resolving the S&P conflict with the American authorities. In early February 2013, the US Department of Justice sued the agency, considering that S&P analysts deliberately overstated the ratings of mortgage bonds to please bankers and not lose their business assessment.

The authorities believed that in this way the agency contributed to the spread of the crisis in 2008, which began, among other things, as a result of the depreciation of a large number of mortgage bonds. The agency considers the lawsuit the revenge of the authorities for lowering the US rating in August 2011.

The McGraw-Hill Companies holding was formed in 1917. The structure of the corporation includes a number of units engaged in publishing, broadcasting, and the provision of financial services. McGRAW -HILL owns one of the three largest world rating agencies - Standard & Poor's, as well as the BusinessWeek business publication and the Platts news agency.