Content area
Full Text
Credit-Rating Firm Opens NY Office Duff & Phelps Inc., the Chicago-based credit-rating agency, opens a New York City office today at 17 State St. in lower Manhattan.
The 58-year-old firm hopes a Big Apple presence will give it an edge in the competition among credit-rating agencies. The firm is expanding in New York at a time when the financial community is being hit by huge stock market swings, problems with junk-bond financings and substantial layoffs.
Richard P. Chenel, 33, a group vice president at D&P and a Manhattan resident for 10 years, will head the New York office. He joined D&P in January from Goldman Sachs.
The New York office will be staffed at first with a half-dozen employees drawn from Chicago. The firm is recruiting employees, a spokesman said, adding the eventual size of the office...