One of the most reputable rating agencies in Africa, GCR Ratings, has appointed Mr Saul Sassoon as its interim group chief executive.
In a statement on Friday, it was disclosed that Mr Sassoon will be in charge of the organisation after the exit of Mr Marc Joffe at the end of this month.
Mr Joffe is stepping down from the role after 25 years with the company, having joined GCR in 2001.
Over the past two decades, he has overseen the firm’s transformation into Africa’s leading credit rating agency, recognised for its deep market expertise and commitment to strengthening financial markets across the continent.
His tenure included landmark achievements such as the sale of GCR to Moody’s Corporation, positioning the company for sustainable long-term growth across Africa.
“Leading GCR Ratings has been a privilege. I am incredibly proud of what we have achieved as a truly pan-African rating agency.
“I step down with profound gratitude, respect, and lasting appreciation for the trust, support, and collaboration of colleagues and stakeholders throughout this journey, and am confident in GCR’s future,” he stated.
The board thanked him for his exceptional leadership and vision, noting his role in building GCR’s reputation as the undisputed leader in African credit ratings.
It also welcomed the interim CEO into his new role, expressing confidence in his ability to guide the organisation through this transition period.
Mr Sassoon, who before his appointment served as Chief Financial Officer (CFO) of the organisation, is expected to drive GCR’s growth, extensive capital markets expertise, and deep relationships with its customers and investors during this transition period.