DBRS Ltd. is bringing in a new leader with banking experience to oversee operations in Canada as the business pursues international expansion.
The Canadian-based rating agency said Doug Turnbull would step into the newly created role of vice-chairman and Canadian country head.
Mr. Turnbull has worked in the investment banking industry for more than three decades. He held positions at BMO Nesbitt Burns Inc. and was most recently deputy chairman at TD Securities Inc. His focus has been on government deals, such as infrastructure and debt financings, as well as covering sovereign, Crown corporations and other government clients around the world. More recently, Mr. Turnbull has been active on many boards, including those of Metrolinx, the Ontario Financing Authority and the Toronto Financial Services Alliance.
In his new position, Mr. Turnbull will be responsible for day-to-day DBRS operations in Canada, where the company is best known. He will also use his experience to work with other executives on the strategy for the company's rating business "and conduct senior outreach activities for the company," DBRS said in a release.
DBRS has said in the past that it will be important to retain the culture of the Canadian business as it seeks to broaden its client base and expertise in the United States and Europe. The company has also identified global infrastructure projects as one area where it would like to expand its services.
In December of 2014, DBRS was sold by its founder to private equity firms Carlyle Group LP and Warburg Pincus, LLC.
DBRS chief executive officer Dan Curry is based in the firm's New York office, and Mr. Turnbull will report to him.