Sean Egan

Sean Egan is the President and founding principal of Egan-Jones Ratings Company, a nationally recognized statistical rating organization (NRSRO) based in Haverford, Pennsylvania. He co-founded the company in 1992 with a vision to provide timely and accurate credit ratings, and has served as its CEO since its inception.24

Background and Education

Egan holds degrees from Harvard Business School and the State University of New York at Buffalo. His professional background includes significant experience in credit ratings and financial analysis, positioning him as a prominent figure in the industry.34

Contributions and Controversies

Egan-Jones gained attention for its early warnings about financial crises, notably being the first rating agency to downgrade the U.S. credit rating from AAA to AA+ in 2011. Sean Egan has been vocal about the need for reform in the credit rating industry, advocating for a model that prioritizes investor interests over issuers.23

However, Egan has faced regulatory scrutiny. In June 2022, the SEC charged both Egan-Jones Ratings and Sean Egan with violating conflict of interest provisions related to credit ratings. This resulted in a settlement that included a $1.7 million penalty for the company and a $300,000 penalty for Egan personally, without admitting or denying the SEC's findings.12

Current Role

As of now, Sean Egan continues to lead Egan-Jones Ratings and its proxy services, focusing on delivering high-quality ratings and maintaining compliance with regulatory standards.45