Earlier this week, Kroll Bond Rating Agency announced the departure of Christopher Whalen, who served as senior managing director and head of research for the last three years.
One of Whalen’s roles was as the head of the company’s financial institutions, and the company announced Thursday that it found a replacement for Whalen from within its own ranks.
KBRA said Thursday that Van Hesser, who currently severs as head of corporates, will add additional responsibility and serve as the head of financial institutions group as well.
According to details provided by KBRA, Hesser has more than 30 years of experience across financial institutions and corporates.
Prior to joining KBRA, he served as a managing director of the financial institutions group at Wells Fargo Principal Investments.
Prior to Wells Fargo, Hesser spent 10 years with HSBC Securities, where he served as global head of credit research, and was the senior corporate bond research analyst covering U.S. banks, brokers, and specialty finance companies.
Earlier in his career, Hesser worked at Credit Suisse First Boston and Goldman Sachs in each company’s corporate bond research groups, and as well as in corporate finance at Salomon Brothers.
“KBRA’s Financial Institutions group has rated over 100 commercial banks and non-banks, and has expanded its insurance ratings group,” KBRA President and CEO Jim Nadler said. “We look forward to capitalizing on Van’s experience to continue growing in this space alongside the progress we’ve made in corporates.”