Feature

Spotlight

Jules Kroll

Jules Kroll isn’t slowing down, said Janet Morrissey in The New York Times. At 69, “an age when other multimillionaires are working on their backswings,” Kroll is plunging into the credit-ratings business. The founder of Kroll Inc. (now owned by Altegrity), he “practically invented the business of corporate intelligence” and knows all there is to know about “the dark side of money.” Kroll, who hunted assets hidden by former Haitian dictator Jean-Claude Duvalier and ferreted out “the oil wealth of Saddam Hussein,” now wants to “marry hard-nosed credit analysis” with his “trademark corporate sleuthing.”

It might be a good time to enter the game. The incumbents of the $4 billion per year ratings business—Moody’s, Standard & Poor’s, and Fitch—disgraced themselves in the run-up to the financial crisis by handing out “sterling ratings” to bonds later revealed as “nearly worthless.” Kroll’s goal is relatively modest—​10 percent of the market within five years. Prominent investors Michael Price, Frederick Adler, and William Mack are bankrolling the venture, dubbed Kroll Bond Ratings. Altegrity CEO Michael Cherkasky, a former Kroll employee, says, “If anyone can do it, it’s Jules Kroll.” Kroll himself isn’t promising anything, but, he says, “I’ve always enjoyed a challenge.”

Recommended

The credulous response to Havana syndrome
The US Embassy in Havana.
Picture of Ryan CooperRyan Cooper

The credulous response to Havana syndrome

Zelensky disputes Biden's 'minor incursions' comment
Ukrainian President Volodymyr Zelensky.
in reply

Zelensky disputes Biden's 'minor incursions' comment

CIA doubts 'Havana Syndrome' sustained assault by hostile power
US Embassy in Havana
Havana syndrome

CIA doubts 'Havana Syndrome' sustained assault by hostile power

Blinken calls for a diplomatic solution as U.S. prepares to back Ukrainian insurgency
Antony Blinken and Volodymyr Zelenskiy
who's blinken first?

Blinken calls for a diplomatic solution as U.S. prepares to back Ukrainian insurgency

Most Popular

Florida advances ban on making white people feel 'discomfort' over past racism
Ron DeSantis
Fragility

Florida advances ban on making white people feel 'discomfort' over past racism

California deputy DA opposed to vaccine mandates dies of COVID-19
Kelly Ernby.
covid-19

California deputy DA opposed to vaccine mandates dies of COVID-19

Federal appellate court punts Texas abortion law to state Supreme Court
Pro-choice demonstrators in Texas
Texas abortion law

Federal appellate court punts Texas abortion law to state Supreme Court