Robin Monro-Davies, former chairman of Fitch, the rating agency, has become executive chairman of New Flag Asset Management, the UK asset management firm specialising in high-yield debt.
Monro-Davies, who invested in New Flag when it was set up in 1999, replaces Pierre Olivier Masmejean, former chief executive and the founder of New Flag. Masmejean left at the end of last year in what was described as "a mutual decision".
