Dominion Bond Rating Service has appointed Alan Reid as managing director of its financial institutions group.

Reid joins DBRS from Moody’s Investors Service, where he was senior vice president, financial institutions group in New York and London for 10 years. Previously he worked in the banking sector at Nomura Securities and at Bank of America. Reid, who is an Associate of the Institute of Bankers in Scotland, will be based in DBRS’s New York office.

“We are delighted to have Alan on board”, said Walter Schroeder, president of DBRS, in a release. “This is part of our continuing efforts to ensure that our independent opinions are made available to a wider range of investors in the world’s capital markets”.

“I am very excited about the opportunity to help DBRS develop its franchise in the U.S.”, Reid said. “I see significant potential in building comprehensive credit rating coverage for DBRS throughout the U.S.”