Deven Sharma
Encyclopedia
Deven Sharma was an executive, and the president of Standard & Poor's
, a Division of The McGraw-Hill Companies
, providing independent credit ratings, indices, risk evaluation, and investment research. Mr. Sharma joined Standard & Poor's in 2006 as executive vice president, Investment Service and Global Sales. On August 23, 2011 he resigned. He will leave the company in 2011. His successor is Douglas Peterson, former Chief Operating Officer of Citibank
. Before joining Standard & Poor's, he was executive vice president, Global Strategy at The McGraw-Hill Companies for five years.
in Bihar
(now a part of Jharkhand
), India
. His father R. N. Sharma was chairman of Bharat Coking Coal Ltd., Dhanbad
. Sharma did his schooling from de Nobili school, Digwadih, Dhanbad
. He received his Bachelor's Degree from Birla Institute of Technology, Ranchi
, India
, a Master's Degree from University of Wisconsin - Milwaukee and a Doctoral degree in Business Management from Ohio State University
.
and Anderson Strathclyde. After that he joined Booz Allen Hamilton
where he worked for 14 years and led its strategy, operations performance, sales and marketing, and global expansion engagements for service-, marketing- and information-intensive companies. He left the company as a partner and joined McGraw-Hill
in 2002. He served as Executive Vice President of Global Strategy of McGraw-Hill Companies Inc., from January 15, 2002 to October 2006 and as Executive Vice President of Investment Services and Global Sales of Standard & Poor's, from November 1, 2006. He was named president of Standard & Poor's in August 2007. In August 2011, he announced that he would step down from the position of president later in the year.
Sharma serves on the boards of CRISIL
, The US-China Business Council and Asia Society Business Council. He served as a Director of 1-800-Flowers.com Inc. from May 12, 2005 to March 16, 2007. He has authored three publications: The Truth About Customer Solutions, Customer Solutions-Pilots to Profits, and Connecting the Demand Chain.
Deven Sharma became the public face of the firm in the wake of its historic downgrade of the United States' long-term debt rating. According to Reuters News Service, S&P announced on August 23, 2011 that Deven Sharma will step down as a Chief of Standard & Poor's effective September 12, 2011, and will leave the company by end of the year.
Standard & Poor's
Standard & Poor's is a United States-based financial services company. It is a division of The McGraw-Hill Companies that publishes financial research and analysis on stocks and bonds. It is well known for its stock-market indices, the US-based S&P 500, the Australian S&P/ASX 200, the Canadian...
, a Division of The McGraw-Hill Companies
McGraw-Hill
The McGraw-Hill Companies, Inc., is a publicly traded corporation headquartered in Rockefeller Center in New York City. Its primary areas of business are financial, education, publishing, broadcasting, and business services...
, providing independent credit ratings, indices, risk evaluation, and investment research. Mr. Sharma joined Standard & Poor's in 2006 as executive vice president, Investment Service and Global Sales. On August 23, 2011 he resigned. He will leave the company in 2011. His successor is Douglas Peterson, former Chief Operating Officer of Citibank
Citibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
. Before joining Standard & Poor's, he was executive vice president, Global Strategy at The McGraw-Hill Companies for five years.
Early life and education
Dr. Deven Sharma was born in the mining town of DhanbadDhanbad
Dhanbad features climate that is transitional between a humid subtropical climate and a tropical wet and dry climate. Summer starts from last week of March and ends in mid-June. Peak temperature in summer can reach 47oC. Dhanbad also receives heavy rainfall...
in Bihar
Bihar
Bihar is a state in eastern India. It is the 12th largest state in terms of geographical size at and 3rd largest by population. Almost 58% of Biharis are below the age of 25, which is the highest proportion in India....
(now a part of Jharkhand
Jharkhand
Jharkhand is a state in eastern India. It was carved out of the southern part of Bihar on 15 November 2000. Jharkhand shares its border with the states of Bihar to the north, Uttar Pradesh and Chhattisgarh to the west, Orissa to the south, and West Bengal to the east...
), India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. His father R. N. Sharma was chairman of Bharat Coking Coal Ltd., Dhanbad
Dhanbad
Dhanbad features climate that is transitional between a humid subtropical climate and a tropical wet and dry climate. Summer starts from last week of March and ends in mid-June. Peak temperature in summer can reach 47oC. Dhanbad also receives heavy rainfall...
. Sharma did his schooling from de Nobili school, Digwadih, Dhanbad
Dhanbad
Dhanbad features climate that is transitional between a humid subtropical climate and a tropical wet and dry climate. Summer starts from last week of March and ends in mid-June. Peak temperature in summer can reach 47oC. Dhanbad also receives heavy rainfall...
. He received his Bachelor's Degree from Birla Institute of Technology, Ranchi
Birla Institute of Technology
Birla Institute of Technology, Mesra , is an autonomous engineering and technology oriented institute of higher education located in Ranchi, Jharkhand, India...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, a Master's Degree from University of Wisconsin - Milwaukee and a Doctoral degree in Business Management from Ohio State University
Ohio State University
The Ohio State University, commonly referred to as Ohio State, is a public research university located in Columbus, Ohio. It was originally founded in 1870 as a land-grant university and is currently the third largest university campus in the United States...
.
Career
Sharma worked with manufacturing companies, Dresser IndustriesDresser Industries
Dresser Industries was a multinational corporation headquartered in Dallas, Texas, United States, which provided a wide range of technology, products, and services used for developing energy and natural resources...
and Anderson Strathclyde. After that he joined Booz Allen Hamilton
Booz Allen Hamilton
Booz Allen Hamilton Inc. , or more commonly Booz Allen, is an American public consulting firm headquartered in McLean, Fairfax County, Virginia, with 80 other offices throughout the United States. Ralph Shrader is its Chairman and Chief Executive Officer. The firm was founded by Edwin Booz in...
where he worked for 14 years and led its strategy, operations performance, sales and marketing, and global expansion engagements for service-, marketing- and information-intensive companies. He left the company as a partner and joined McGraw-Hill
McGraw-Hill
The McGraw-Hill Companies, Inc., is a publicly traded corporation headquartered in Rockefeller Center in New York City. Its primary areas of business are financial, education, publishing, broadcasting, and business services...
in 2002. He served as Executive Vice President of Global Strategy of McGraw-Hill Companies Inc., from January 15, 2002 to October 2006 and as Executive Vice President of Investment Services and Global Sales of Standard & Poor's, from November 1, 2006. He was named president of Standard & Poor's in August 2007. In August 2011, he announced that he would step down from the position of president later in the year.
Sharma serves on the boards of CRISIL
CRISIL
Credit Rating and Information Services of India Ltd. a global analytical company providing ratings, research, and risk and policy advisory services....
, The US-China Business Council and Asia Society Business Council. He served as a Director of 1-800-Flowers.com Inc. from May 12, 2005 to March 16, 2007. He has authored three publications: The Truth About Customer Solutions, Customer Solutions-Pilots to Profits, and Connecting the Demand Chain.
Deven Sharma became the public face of the firm in the wake of its historic downgrade of the United States' long-term debt rating. According to Reuters News Service, S&P announced on August 23, 2011 that Deven Sharma will step down as a Chief of Standard & Poor's effective September 12, 2011, and will leave the company by end of the year.
External links
- Standard & Poor's, Management Bios
- Profile at SEC Roundtable
- Business profile at Bloomberg Businessweek
- When Wall Street Nearly Collapsed, Deven Sharma, CNN Money, 2009
- Deven Sharma to head S&P, Corbet quits
- “Why Ratings Requirements Don’t Make Sense” WSJ 2010, Op-Ed by Deven Sharma
- “Q.&A. With S&P’s President on the State of Ratings” NYT 2010
- “A Question of Timing” Business Times 2010