NEW YORK, June 4, 2012 /PRNewswire/ -- Standard & Poor's Ratings Services today announced that Paul Sheard has been named Chief Global Economist and Head of Global Economics and Research, effective today. Based in New York, Mr. Sheard will report to Douglas Peterson, President of Standard & Poor's Ratings Services, and serve on the firm's Executive Committee.

In his new role, Mr. Sheard will lead S&P's Global Economics and Research team, which includes more than 50 economists, researchers and quantitative analysts. This group is responsible for the macroeconomic forecasts used by S&P's analysts during the ratings process, critical cross-sector research projects and ratings performance reporting.

"Paul Sheard is an internationally known economist, thinker and author," said Mr. Peterson. "His research on quantitative easing and central bank policies make him an ideal choice to lead S&P's economics and research group. Paul's experience and understanding of economic and fiscal policy will help our analysts shape their views of credit risk in this turbulent environment."

"I'm thrilled to be joining such an influential organization as Standard & Poor's Ratings Services," said Mr. Sheard.  "With more than 1,400 credit analysts globally, it is one of the largest and most respected financial research organizations in the world. Given the importance of ratings in the capital markets and the historic times, I can't imagine a more exciting mission and vantage point."

Previously, Mr. Sheard was Global Chief Economist and Head of Economic Research at Nomura Securities, a position he earlier held at Lehman Brothers. He had also served as Lehman's Asia Chief Economist. Before that, he was Head of Japan Equity Investments at Baring Asset Management. Mr. Sheard has held faculty positions at Osaka University and the Australian National University and visiting positions at Stanford University and the Bank of Japan. He has authored or edited four books and more than 20 scholarly articles.

Mr. Sheard received his Bachelor's degree from Monash University in Australia and holds a Master of Economics and PhD from the Australian National University. He is a member of the World Economic Forum Global Agenda Council on the International Monetary System.

About Standard & Poor's Ratings Services

Standard & Poor's Ratings Services, part of The McGraw-Hill Companies (NYSE:MHP), is the world's leading provider of independent credit risk research and benchmarks. We publish more than a million credit ratings on debt issued by sovereign, municipal, corporate and financial sector entities. With over 1,400 credit analysts in 23 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 and independent benchmarks that help to support the growth of transparent, liquid debt markets worldwide.

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SOURCE Standard & Poor's Ratings Services