Mumbai-based Fitch Ratings India Pvt Ltd, a credit rating agency, has appointed Atul Joshi as managing director and CEO. Joshi has replaced Amit Tandon, who is leaving the company after a stint of nearly 10 years, to pursue new opportunities outside Fitch. Fitch commenced its operations in India in 2001 with Tandon, after it took over Duff & Phelps Credit Rating Co.
In his present role, Joshi will report to Brett Hemsley, head of Asia-Pacific at Fitch, and will be responsible for managing day-to-day business operations in India and Sri Lanka.
Earlier, Joshi was the MD, Business & Relationship Management, at Fitch India. He joined the agency as senior director in 2008. Joshi has more than two decades of experience in the financial services industry. Prior to joining Fitch, he worked with ING Vysya Bank (India) for nearly four years, where he was responsible for the Financial Institutions Group. He was also the parent account manager (India) for ING Bank NV. Joshi started his career at ICICI Bank where he had worked nearly 13 years, specialising in global and domestic treasury functions, as well as project finance.
“Over the past three-and-a-half years as Head of BRM India, Joshi has been instrumental in driving the growth of our business and has built a strong and successful franchise,” said Brett Hemsley, managing director and head of Asia Pacific at Fitch.
Fitch, a subsidiary of Fitch Inc., is engaged in credit rating of corporate, public finance institutions, financial institutions, infrastructure companies, microfinance institutions, etc. Other firms in the same field as Fitch includes S&P-controlled Crisil, Moody’s-backed ICRA, besides domestic institutions-backed credit rating and research firm CARE.