Morningstar Credit Ratings, a subsidiary of the research firm known for its mutual-fund analysis, has appointed Charles Citro as managing director for commercial mortgage-backed securities (CMBS) ratings and analytics, according to a corporate statement.
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In his new capacity, Mr. Citro’s responsibilities include leading Morningstar’s businesses that focus on commercial mortgage-backed business, other commercial real estate (CRE) ratings initiatives, as well as the management and development of analytical staff. He is also responsible for overseeing the Chicago-based company’s analytical activities while ensuring a high level of transparency and accuracy in Morningstar’s CMBS ratings.
Charles is based in New York City and will report to Vickie Tillman, president of Morningstar Credit Ratings, who commented on the appointment: “Charles is a skilled veteran with 30 years of experience across CMBS, CRE, structured finance, and credit ratings. He is a great addition to our leadership team, with the experience to build our CMBS and CRE practice into a market leader, providing accurate and insightful ratings and analytics for investors.”
Back in 2016, Morningstar, which is best known for its reviews on mutual funds, has obtained approval from the US securities regulators to offer credit ratings on companies and financial institutions, an activity that has long been dominated by a few big firms such as S&P Global Ratings, Moody’s and Fitch.
Mr. Citro has nearly three decades of experience in origination and credit analysis in commercial real estate lending. He was previously a Managing Director at Goldman Sachs and was formerly at Moody’s Investors Services. Most recently, he served as a senior managing director at Cushman and Wakefield, Inc., where he held a senior role within the Asset Surveillance Group. Prior to that, he worked a Managing Director of Credit Trading Division at Macquarie Group Limited since September 2014.