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Roland Berger inspires European credit rating agency

Markus Krall

Munich: The launch of a European credit rating agency to challenge the global domination of Fitch, Moody's and Standard & Poor's is imminent — inspired and led by Germany's Roland Berger Strategy Consultants.

  • Following intensive negotiations with European financial companies, sufficient commitment has been received to establish the new rating agency
  • In order to wrap up the agreements with investors, a foundation and operating company will be set up as independent entities
  • Markus Krall will be the founding CEO of the new rating agency. He is giving up his position as Senior Partner at Roland Berger to devote himself entirely to this project
  • As project initiator, Roland Berger Strategy Consultants will continue to support the establishment of the rating agency, both conceptually and with material backing
  • Burkhard Schwenker, Chairman of Roland Berger Strategy Consultants, will help set up an Advisory Council for the rating agency, acting as its first member

Roland Berger floated the idea of creating a global rating agency of European origin late last year. Now it says that following intensive talks with financial companies across Europe, a significant number of investors have pledged their support. It is though to be looking to raise at least 300 million euros for the venture.

The firm is unable to confirm a date for the launch of the agency, and as yet it is unnamed, but
Markus Krall will be the founding CEO and will give up his position as Senior Partner at Roland Berger Strategy Consultants.

Roland Berger will continue to support the project and Chairman of the international consultancy, Burkhard Schwenker, will initially help set up an Advisory Council for the rating agency, acting as its first member.

"Following intensive talks conducted across Europe, a number of financial companies have now agreed to support the establishment of a global rating agency of European origin," explains Markus Krall, Partner at Roland Berger Strategy Consultants.

"We will soon wrap up the fundraising and complete operational realization of the new independent agency. We are currently in the process laying the institutional and corporate groundwork."

"The challenging task of setting up a new international rating institution cannot be reconciled with the management demands placed on a Senior Partner at (this) consultancy," says Burkhard Schwenker, Supervisory Board Chairman of Roland Berger Strategy Consultants. This decision is in line with the wishes of many investors, who expect the project manager to assume a personal role in the agency's management.

Roland Berger Strategy Consultants will continue to support the project financially and conceptually. In doing so, Burkhard Schwenker will initially help set up an Advisory Council for the rating agency and act as its first member.

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