The head of the S&P in Russia Sergey Nazarov will leave the Agency

Moscow. January 26. Managing Director of rating Agency Standard & Poor’s in Russia Sergey Nazarov leaves the Agency, said the representative of the S&P.

“We do not plan to seek a new candidate, we changed the structure,” he said.

According to her, to lead the Moscow office of S&P will now be a team of three people. The head of the Moscow branch of the Agency in Elena Eliseenko, which now occupies the position of Director of business development Moscow S&P. She will coordinate the business development strategy of the Agency in Russia and CIS.

Boris Kopeikin, senior Director of group “Ratings of financial institutions”, will become the head of analytical direction of the Moscow office of Standard & Poor’s in Russia and the CIS (new position). Lawyer Maria Nizovtseva will oversee legal activities and interactions with the regulator.

Sergei Nazarov was the head of the Moscow office of the Agency since 2013.

In 2015, a law was passed regulating the activities of rating agencies in Russia. In January, Director of Department of development of financial markets the Central Bank of the Russian Federation Elena Tchaikovskaya said that the Bank of Russia expects that the “big three” rating agencies will remain in Russia and will create a subsidiary company operating under Russian law.

Foreign rating agencies under the new law can operate in Russia through branches and ratings on behalf of their international structures or to create in Russia a subsidiary company that will meet the new requirements and assign ratings on their own behalf. However, these agencies, in particular, will not be able to withdraw the ratings on the national scale in the case of sanctions by foreign States against Russian legal entities.

Standard & Poor’s currently has a registered Russian subsidiary and has no subsidiaries. The situation is similar in the other participant “the big three” – Fitch. Moody’s is presented in Russia by two companies – “daughter” LLC, “Moody’s Eastern Europe” and a joint with the “Interfax” CJSC “Rating Agency “Moody’s Interfax”.