RK: Absolutely not. Moody’s is a 100-year-old company, which had never sold an operating unit, so I saw my role as CEO of the MAKS business as my next Moody’s career assignment. The decision to sell the business came as a surprise to me, although I saw the rationale.
Moody’s advised me of their decision to sell. It was a big decision point for me after 20 years with Moody’s, but I felt that, as captain of the ship, I should lead the business through the process into new ownership. It was the right thing to do, but I also had absolute confidence that this was a business with great potential to be unleashed.
SR: What had been the constraints on the business?
RK: We represented less than three percent of Moody’s revenues. In a large corporation, you have to fight for funding, focus and talent and that can be hard if the business is seen as non-core.
One of the strengths of partnering with Equistone has been the speed and rigour of decision-making and the focus that they bring to our strategy and growth plans.