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EuroMoney details how a distinguished US Treasury official and an international corporate lawyer (she also won the IBM AI hackathon) linked up to create Sigma Ratings, the world's first global business integrity rating agency. Sigma’s platform is currently in beta testing and it plans to release version this fall, providing non-credit ratings for 16 countries and 500 financial institutions.
“I wanted to create a platform that would allow institutions that are taking demonstrable steps to be leaders in this space to highlight their efforts in a way that is quantifiable and identifiable.” To do this he teamed up with Gabrielle Haddad, whom he met on the MIT Sloan Fellows Programme. Haddad started as an M&A lawyer in New York and subsequently worked as legal officer at a non-profit fund manager in Geneva. “She faced the problem I identified from an operational perspective from an investor’s perspective,” says Jones. “It was very difficult for her to get normalized risk data on banks to assess their attention to managing illicit finance risk. This was a particular problem in more opaque markets.”
