Moody's appoints Jacques Els as general manager in South Africa office

By Toni Weeks

San Diego, May 26 - Moody's Investors Service has appointed Jacques Els as general manager of Moody's Johannesburg office. Els, who replaces Leon Claassen, will oversee Moody's operations in South Africa and will further develop Moody's outreach and business in Sub-Saharan Africa.

Els joins Moody's from NM Rothschild and Sons, where he was director of debt advisory based in South Africa. Previously, he held senior positions at the South African operations of Absa Capital, Citibank, Nedbank Capital and Fitch Ratings.

"Mr. Els has over 16 years of experience in the fields of investment banking, ratings and debt advisory services, as well as credit ratings and analysis, that make him uniquely suited to head our operation in Johannesburg," Frederic Drevon, head of Moody's Investors Service in London, said in a news release.

Els studied law in South Africa and earned a Master of Commerce degree in business management from the University of Johannesburg.

London-based Moody's Investors Service, a subsidiary of Moody's Corp., first established its presence in South Africa in 1994, when the rating agency assigned an investment-grade rating to the Republic of South Africa. Moody's established a permanent office in Johannesburg in 2003.

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