DALLAS — Fitch Ratings has hired former S&P Global Ratings analyst Richard Packard as director in Fitch’s Austin office.
Packard succeeds senior director Dan Black, whose career included 10 years at Fitch.
Black was executive director for the Municipal Advisory Council of Texas from its inception until 2007. The Texas MAC became a storehouse of issuer information for broker dealers in Texas, serving as a state information depository since 1995.
Prior to heading the Texas MAC, Black was a manager of the Texas Water Development Board, where he was responsible for overseeing the state agency’s then-$1.3 billion portfolio and bond pool to provide cities, river authorities, and other agencies funds for water, sewer, flood control and other projects.
Before that, he worked in the loan and trust departments at InterFirst Bank in Dallas and as a stockbroker at Rotan Mosle Inc., in Austin. Black holds bachelor’s and master’s degrees in political science from Memphis State University and a master’s degree in business administration from the University of Texas at Austin.
Packard will focus on building the rating agency’s public finance business in the southwest and south.
Packard, a Texas A&M University graduate, joined S&P in 2011, working in Dallas on market outreach and development. Before that, he worked for Fidelity Investments.