S&P Global Ratings Appoints Yann Le Pallec as Next President

Rhea-AI Summary

S&P Global Ratings has announced Yann Le Pallec as the next President of S&P Global Ratings, effective November 1, 2024, succeeding Martina L. Cheung. Le Pallec, who is currently the Executive Managing Director and Head of Global Ratings Services, has been with the company since 1999 and has significant experience in credit markets, change management, and talent development. He currently oversees over 2,200 analysts and support staff across 28 countries. Martina L. Cheung will transition to President and CEO of S&P Global. Both current leaders, Cheung and Douglas L. Peterson, have expressed confidence in Le Pallec's ability to lead the ratings division successfully.

Positive

• Yann Le Pallec's appointment brings extensive experience in credit markets, which may strengthen S&P Global Ratings' leadership and operational efficiency.
• The transition of Martina L. Cheung to President and CEO of S&P Global indicates a clear succession plan, likely maintaining stability and continuity within the company.

Negative

• Potential challenges in the transition period may arise as Le Pallec adapts to his new role and responsibilities.
• Stakeholders might have concerns about the change in leadership affecting the stability and future strategic direction of S&P Global Ratings.

NEW YORK, June 27, 2024 /PRNewswire/ -- S&P Global Ratings today announced that Yann Le Pallec, current Executive Managing Director and Head of Global Ratings Services of S&P Global Ratings, has been appointed President of S&P Global Ratings. In his new role, Mr. Le Pallec will have ultimate responsibility for all aspects of the business, including commercial, analytical, control, and operations functions. He will succeed Martina L. Cheung, effective November 1, 2024, at which time Ms. Cheung will become President and Chief Executive Officer of S&P Global.

Since joining the Company in 1999, Mr. Le Pallec has served in several diverse roles of increasing responsibility within S&P Global Ratings, developing deep expertise in credit markets, as well as experience in change management and talent development. In his current role, Mr. Le Pallec leads a group of over 2,200 analysts and support staff across 28 countries, covering more than one million outstanding ratings on entities and securities across various sectors, including governments, corporations, and financial institutions. 

"Yann is a veteran of the S&P Global Ratings team and an expert on our business and the industry," said Ms. Cheung. "He is deeply committed to safeguarding the analytical integrity, independence, and excellence that sets our ratings business apart, and the thought leadership the markets seek from us around the world. I am confident that the business will continue to thrive under his leadership, and I look forward to partnering closely with him through this transition." 

"We couldn't be happier with Yann's appointment as the future head of our Ratings business," said Douglas L. Peterson, current President and CEO of S&P Global. "I had the privilege of working closely with Yann during my time as President of the division, when he oversaw analytics for Europe, the Middle East and Africa. Yann is a great leader and an exceptional person, and I am excited to see the great things he will accomplish for the division and for S&P Global." 

"I am thrilled to have the opportunity to step into this new leadership position," said Mr. Le Pallec. "It has been a privilege to work with the phenomenal teams in S&P Global Ratings, and I have strong conviction in our continued success, as we capture our growth opportunities and build on the analytical excellence and transparency that are synonymous with our ratings agency. I am eager to begin this next chapter in my career alongside such valued and respected colleagues."  

About Yann Le Pallec 

Yann Le Pallec is Executive Managing Director and Head of Global Ratings Services which includes Analytics, Research and Operations. 

He is based in Paris and is a member of the S&P Global Ratings Operating Committee. Yann oversees a group of more than 2,200 analysts and support staff across 28 countries that covers more than one million outstanding ratings on entities and securities across a wide range of sectors. These include governments, corporations, financial institutions, and structured finance. 

Yann also chairs the Board of CRISIL Ltd. CRISIL Ltd is a global provider of benchmarks and analytics for the financial community and also owns CRISIL Ratings, a leading credit rating agency in India. CRISIL Ltd is listed on BSA, the Mumbai stock-exchange. 

Yann has held a diverse set of responsibilities in his career at S&P Global Ratings. In 2016, he was Head of Global Corporate Ratings, a group composed of 500 analysts responsible for analyzing over 4,000 non-financial corporations worldwide. From 2011 until 2015, he was responsible for S&P's market-leading credit ratings business in EMEA, managing a team of over 900 rating analysts and support staff operating from 12 offices. Previously, Yann was Head of EMEA Corporate and Government Ratings, after various managerial and analytical positions in the Insurance and Sovereign & Public Sector groups. 

Before joining S&P Global Ratings in 1999, Yann was a Senior Manager with the Paris-based audit firm Salustro Reydel. 

Yann holds a Master's degree in Business from Ecole Supérieure des Sciences Economique et Commerciales (ESSEC) in France. 

About Martina L. Cheung 

Martina L. Cheung is President of S&P Global Ratings. Ms. Cheung also serves as the Executive Lead of S&P Global Sustainable1, responsible for driving the enterprise-wide growth strategy for sustainability. 

Ms. Cheung joined the Company in 2010 as Vice President of Operations for S&P Global Ratings and went on to serve as S&P Global's Chief Strategy Officer, where she was responsible for developing the Company's growth and innovation investment priorities. She was also Head of Risk Services in S&P Global Market Intelligence, helping clients navigate the complex credit and risk landscape. She most recently led S&P Global Market Intelligence, and Ms. Cheung formerly served on the Board of CRISIL. 

Ms. Cheung is a member of the Council on Foreign Relations, the Economic Club of New York, and served on the U.S. Commodity Futures Trading Commission's (CFTC) subcommittee on Climate-Related Market Risk. Ms. Cheung has spoken on key industry topics covering technology, cyber security, energy transition, and diversity in the workforce across public forums that include the World Economic Forum at Davos and the Institute for International Finance, among others. 

In recognition of her industry-wide impact and leadership, Ms. Cheung received the prestigious Merit Award from The Women's Bond Club in 2022. She was also honored by INvolve on the 2023 Top 100 Women Executives and the 2024 top 100 Empower Executives lists. Ms. Cheung was recognized at the 2022 Ascend A-List Awards for her contributions to advancing Pan-Asian professionals. She was also inducted into the Academy of Women Leaders by the YWCA New York City in 2016. 

Ms. Cheung is the S&P Global Executive Sponsor for the Women's Initiative for Networking Success (WINS). Ms. Cheung serves on the Board of Trustees for Catholic Charities New York. 

Prior to joining S&P Global, Ms. Cheung worked in the consulting industry, first in Accenture's Financial Services Strategy group and later as a Partner at Mitchell Madison Consulting. She holds a Bachelor's Degree in Commerce and a Master's Degree in Business Studies from National University of Ireland, Galway. 

About S&P Global Ratings
S&P Global Ratings, part of S&P Global Inc. (NYSE: SPGI), is the world's leading provider of independent credit risk research. We publish more than a million credit ratings on debt issued by sovereign, municipal, corporate and financial sector entities. With over 1,600 credit analysts in 27 countries, and more than 150 years' experience of assessing credit risk, we offer a unique combination of global coverage and local insight. Our research and opinions about relative credit risk provide market participants with information that helps to support the growth of transparent, liquid debt markets worldwide. 

Media:
Christopher Krantz
Communications
Tel: +44 7976 632 638
christopher.krantz@spglobal.com

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SOURCE S&P Global Ratings

FAQ

Who is the newly appointed President of S&P Global Ratings?

Yann Le Pallec has been appointed as the President of S&P Global Ratings, effective November 1, 2024.

When will Yann Le Pallec assume his new role as President of S&P Global Ratings?

Yann Le Pallec will assume his role as President of S&P Global Ratings on November 1, 2024.

What is Yann Le Pallec's current position at S&P Global Ratings?

Yann Le Pallec is currently the Executive Managing Director and Head of Global Ratings Services at S&P Global Ratings.

Who will succeed Yann Le Pallec as President of S&P Global Ratings?

Yann Le Pallec will succeed Martina L. Cheung as President of S&P Global Ratings.

What role will Martina L. Cheung take after November 1, 2024?

Martina L. Cheung will become President and Chief Executive Officer of S&P Global.

How long has Yann Le Pallec been with S&P Global Ratings?

Yann Le Pallec has been with S&P Global Ratings since 1999.

What experience does Yann Le Pallec bring to his new role?

Yann Le Pallec has deep expertise in credit markets, change management, and talent development, having served in various roles at S&P Global Ratings.

What is the significance of Yann Le Pallec's appointment for S&P Global Ratings?

Yann Le Pallec's extensive experience and leadership are expected to enhance S&P Global Ratings' operational efficiency and strategic direction.