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Roland Berger Strategy Consultants initiates project for a European Rating Agency

Press statement

Roland Berger Strategy Consultants initiates project for a European Rating Agency

Munich/Frankfurt, January 2012: Roland Berger Strategy Consultants confirms that it is in talks with numerous financial institutions from the EU and Switzerland with a view to securing seed capital totaling EUR 300 million for a European Rating Agency to be established in 2012 as a private non-profit foundation.

"This initial funding will be structured as mezzanine capital: Investors will get their money back between 3 and 5 years after the launch of the European Rating Agency," says Markus Krall, Senior Partner at Roland Berger Strategy Consultants. "We are inviting participants from all major financial hubs, so the road show and communication process will take us to the start of the next quarter. The upside, however, is very broad representation of the European financial services industry, with banks, insurance companies and institutional investors all involved in the founding consortium. That will unquestionably strengthen the credibility of the new institution and diversify the investor base, thereby further reducing potential conflicts of interest."

The new agency will operate a cost-efficient model developed and proven by the banking industry. The model is based on the Basel II infrastructure plus credit analytics. At the same time, the whole rating process will be transformed to guarantee greater transparency. An online platform on which all agencies can publish their ratings will be established. Investors should commit either to publishing their own ratings or to buying ratings from a rating agency of their choice.

Roland Berger is currently in talks with the key European financial institutions and believes that the critical number of investor commitments will be reached by the end of the first quarter 2012.

Roland Berger Strategy Consultants, founded in 1967, is one of the world's leading strategy consultancies. With 2,500 employees working in 45 offices in 33 countries worldwide, we have successful operations in all major international markets. The strategy consultancy is an independent partnership exclusively owned by about 220 Partners.

For further information, please contact:

Claudia Russo
Roland Berger Strategy Consultants
Tel.: +49 89 9230-8190

Jan 23, 2012

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