A.M. Best announced that Roger Sellek will step down as CEO of its Europe, Middle East and Africa (EMEA) and Asia Pacific (AP) regions at the end of March. As part of its succession planning process, A.M. Best has also decided to streamline the management of its business.

Sellek joined A.M. Best in 2007. During his tenure, he led the expansion of A.M. Best’s global business including the establishment of offices in Dubai, Singapore and, most recently, Amsterdam, with A.M. Best now providing rating services in more than 90 countries from its key regional hub offices.

The company said its new organizational structure is meant to enable growth in core strategic markets while responding to the rising costs of local regulation of credit rating agencies in many territories.

Larry Mayewski, CEO and chairman of A.M. Best Rating Services in the U.S., will assume the position of CEO of European rating subsidiaries in London and Amsterdam, while Matthew Mosher, executive vice president and chief operating officer of Rating Services, will take on the responsibilities of CEO of Asia Pacific subsidiaries in Hong Kong and Singapore, pending regulatory approval.

Regional Market Development heads, back-office support, and Compliance will report to Mayewski, while Rating Analysis in the subsidiary offices will report via the Chief Rating Officer Stefan Holzberger to Mosher, who will continue to report to Mayewski.

Nick Charteris-Black will continue as managing director, Market Development EMEA, based in London.

A.M. Best has also restructured its Market Development team and bolstered its Rating Analytics function. Greg Carter, managing director of Rating Analytics, EMEA and AP, will be relocating to Asia to provide day-to-day analytical leadership in the Asia Pacific region while retaining his key responsibilities in London and the new Amsterdam office in the Netherlands, servicing EU clients. Under the restructuring of the Market Development team Jose Ribeiro, managing director Asia-Pacific, will be leaving the company.

Source: A.M. Best