UK-based ARC Ratings has appointed Andrew Steel as global head of corporate finance and chief analytical development officer to lead the company’s expansion into corporate finance and private credit.
Steel will support the ratings agency’s growth into new geographies and product areas beyond structured finance, ARC Ratings said.
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Steel spent 19 years in senior roles at Fitch Ratings, serving as regional head of APAC corporates, regional head of EMEA corporates, and global head of sustainable finance, with responsibility for advancing the firm’s ESG integration and analytical innovation.
He also served as global head of Sustainable Fitch between 2021 to 2023, creating and establishing Fitch’s ESG ratings division.
In addition, Steel has held several advisory positions, including as an advisory board member for the UN Principles for Responsible Investment’s committee for credit ratings and risk (ACCRR) and for OMFIF.
Most recently, he served as chief executive officer of Sustainable Strategies, a management consultancy focused on sustainability and financial strategy.
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“Over the past five years, ARC has achieved tremendous growth, and we’re thrilled to welcome someone of Andrew’s calibre to our global leadership team,” said Oliver Howard, group chief executive officer of ARC Ratings.
“His proven track record and broad expertise across rating products will be instrumental as we accelerate our roadmap to becoming a truly global credit ratings agency (CRA) and risk analytics group.”
Steel called it “a critical time” in ARC’s development.
“With the continued growth in technology as an enabler, and its established track record in structured and private ratings, I believe ARC can become a truly modern global ratings agency,” he added.
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