Dominion Bond Rating Service announced the expansion of its European presence with the opening of an office in Paris.

The office will be DBRS’s fifth international office and its third European office. The Paris office will play a key role in developing DBRS’s rating activities in France, initiating coverage in the Banking & Financial Services sectors.

“The launch of the new office in Paris is an important step which reinforces DBRS’s commitment to the European market in general and which marks an important beginning for our activities focusing on the French market,” says Sam Theodore, managing director of European Financial Institutions.

“We are pleased to see that issuers and investors are highly supportive of our initiatives in Europe. In this respect our new Paris office should contribute to stronger links between DBRS and French financial institutions,” notes DBRS president Walter Schroeder.

DBRS has hired Jean-Luc Lepreux as senior vice president at DBRS Europe to spearhead the rating and analysis of banks and insurance companies throughout Europe, particularly in France.

Lepreux has over 20 years of experience in the capital markets and financial services industry. He joins DBRS from Moody’s Investors Service where he was most recently a senior vice president in its European insurance and banking teams, covering major insurance groups in France, the Benelux, and the UK, while retaining lead analytical responsibility for major French banks. Prior to Moody’s, he was with Crédit Lyonnais Capital Markets, and Ernst & Young.

“I am very pleased Jean-Luc has joined our team,” says Theodore. “His experience and expertise in banking and insurance make him a valuable addition to our team, and I look forward to continuing our close co-operation in the assessment of European financial institutions and serving the European market.”