New APEC Business Advisory Council Member Named

Media Note
Office of the Spokesperson
Washington, DC
November 17, 2015

The United States welcomes the appointment of Dr. Richard Cantor, Chief Risk Officer of Moody’s Corporation and Chief Credit Officer of Moody’s Investors Service, to the United States Asia Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC). Cantor joins current U.S. ABAC members Peggy Johnson, Executive Vice President for Business Development at Microsoft, and Bart Peterson, Senior Vice President for Corporate Affairs and Communications at Eli Lilly and Company. Dr. Cantor will replace Ed Rapp, Group President at Caterpillar, at the end of the year.

These American business executives will join their ABAC counterparts from other APEC economies to advise APEC Leaders on issues affecting the continued growth of the region’s economy. ABAC, created in 1995, consists of three business representatives from each APEC economy chosen by their APEC Leader. ABAC meets throughout the year to discuss policy recommendations, undertake activities to promote trade and investment, and report annually to the Leaders.

As Chief Risk Officer, Dr. Cantor leads Moody’s Corporation’s global risk management function, which is responsible for the identification, evaluation, and mitigation of business risks facing the company. Dr. Cantor also leads the Credit Policy Group of Moody’s Investors Service, which provides oversight for ratings methodologies, tracks ratings performance, and publishes research that underpins the quality, comparability, and consistency of Moody’s credit ratings world-wide. In both capacities, Dr. Cantor has a global remit with staff in the United States, Asia Pacific, Latin America, Europe, and the Middle East, and he has traveled extensively, engaging with government, industry, and academic leaders on matters related to credit risk, the financial sector, and the capital markets.

Prior to joining Moody’s in 1997, Dr. Cantor held a variety of positions at the Federal Reserve Bank of New York, including in the Capital Markets Group and the Discount Window. While at the Federal Reserve, Dr. Cantor was an adjunct professor at New York University’s and Columbia University’s business schools. He has also taught Economics at UCLA and Ohio State University. He holds B.A. degrees in English and Economics from Tufts University and a Ph.D. in Economics from Johns Hopkins University.

APEC is the premier organization for facilitating economic growth, cooperation, trade, and investment in the Asia-Pacific region. Under the APEC structure, the United States and 20 other of the world’s leading economies come together to facilitate regional economic integration through trade and investment liberalization, and tackle a wide range of issues critical to ensuring regional prosperity and economic growth.