Toronto-based Dominion Bond Rating Service is expanding its reach into Europe with a new office in Frankfurt, and a couple of new hires.

The new office is the ratings agency’s fourth international office and DBRS Europe’s second office. The Frankfurt office will play a key role in developing its rating activities within Germany, particularly within the banking and financial services sectors.

“The launch of the new office in Frankfurt is an important step showing DBRS’s commitment to the German market,” says Sam Theodore, managing director of European Financial Institutions.

“Opening an office in Frankfurt is an important development for us. Over the past few years, we have expanded within North America and this new office opening will place DBRS in a stronger position to support its international goals,” notes DBRS president Walter Schroeder.

DBRS has hired Michael Dawson-Kropf away from Moody’s Investors Service to serve as senior vice president. He will spearhead the rating and analysis of German, Swiss, and Austrian banks, among other things.

Anne Caris, also from Moody’s, has been appointed vice president in its London office. Both Dawson-Kropf and Caris will report to Theodore.

“Michael and Anne bring strong backgrounds in the financial institutions sector, adding greater depth to our growing team,” says Theodore. “As part of our commitment to investors, DBRS will be providing new ratings and research to serve the European financial institutions sector.”

Dawson-Kropf has over 15 years of experience in the capital markets and financial services industry. He joins DBRS from Moody’s where he was most recently senior analyst – senior credit officer and lead analyst for banks in Germany. Prior to Moody’s, he was a credit manager at Singer & Friedlander Capital Markets in London.

Caris has over eight years experience in the capital markets and financial services industry. Prior to Moody’s, she worked for Credit Suisse First Boston in London.