Brian Grow is president of Morningstar Credit Ratings. He is responsible for the day-to-day operations and expansion of the ratings and research business.
Prior to assuming his current role in 2018, Grow was managing director of residential mortgage-backed securities (RMBS) and asset-backed securities (ABS) ratings and research for Morningstar. He was responsible for development, implementation, and maintenance of the ratings and surveillance process for RMBS, ABS, collateralized loan obligations (CLO), and single-family rental securities, as well as management of the related analytical teams.
Before joining Morningstar in 2011, Grow spent 10 years in RMBS and ABS ratings and research at Standard & Poor’s. During that time, he formed and managed the rating agency’s RMBS criteria and modeling team, which developed and proposed new approaches to identify and model risk in RMBS transactions. He spent several months in S&P’s Melbourne, Australia office and subsequently managed a team responsible for the enhancement of global structured finance analytics. He has also worked for JPMorgan Chase Bank and Cleary Gottlieb Steen & Hamilton, a law firm in New York.
Grow holds a bachelor’s degree in economics from St. Lawrence University and a master’s degree in business administration from Yale University.
Michael Brawer is chief ratings operating officer for Morningstar Credit Ratings, LLC. He oversees operations and is responsible for building and administering functionality to help the company drive sustainable growth. Brawer works with other members of the executive leadership team to set goals and objectives, increase operational efficiency, and promote the company’s culture of integrity.
Prior to assuming his current role in 2018, Brawer was chief compliance officer at Morningstar Credit Ratings. He was responsible for helping the organization adhere to regulatory expectations that apply to nationally recognized statistical ratings organizations (NRSROs).
Before joining Morningstar in 2016, Brawer held several leadership roles at S&P Global and was senior director, Enterprise Risk Management and Compliance.
Brawer holds a bachelor’s degree in international affairs from George Washington University and a master’s degree in business administration with a concentration in finance from the University of Miami.
Calvin Wong is chief credit officer for Morningstar Credit Ratings, LLC. He is primarily responsible for overseeing the review and approval process for analytical methodologies for Morningstar’s structured credit research and ratings business.
Before joining Morningstar in 2014, Wong was practice criteria officer for global residential mortgage-backed securities for Standard & Poor's.
Wong began his 24-year career at Standard & Poor’s as an analyst for asset-backed securities (ABS) and went on to hold various analytical management positions in ABS. He later became S&P's Asia-Pacific regional practice leader for Structured Finance Ratings and Corporate Governance Services in Hong Kong. Upon his return to the United States, Wong served in various capacities as a senior criteria and credit policy officer within the ratings group.
Before joining S&P, Wong started his career at Irving Trust Company as a commercial banker to multinational oil and gas companies.
Wong holds a bachelor’s degree in economics from Cornell University and a master’s degree in finance from The Wharton School of the University of Pennsylvania.
Becky Cao is chief quality officer for Morningstar Credit Ratings, LLC. She manages the quality team to provide an independent review of rating files and processes. Cao also partners with the analytical teams to make improvements that will result in an elevated quality of ratings.
Cao builds implementation plans affecting the rating process and develops documentation enhancements. In addition, she provides training to the analytical teams and best practices across the various ratings groups.
Before joining Morningstar in 2012, Cao worked at Standard & Poor’s for 11 years where her role included heading up the residential mortgage-backed securities ratings group. Previously, Cao worked for Pedestal Inc., a Wall Street mortgage trading firm.
Cao holds a bachelor’s degree in English from Beijing Foreign Studies University and a master’s degree in business administration from the University of Miami.
Brian Vonderhorst is managing director and head of sales and business development at Morningstar Credit Ratings, LLC. He manages business development and sales across Morningstar’s ratings and non-ratings businesses, and executes all outreach activities.
Vonderhorst has 24 years of experience in the capital markets with an extensive background in strategic business development, structured finance securitization, credit analysis, and sales. He spent approximately eight years in Standard & Poor’s RMBS ratings group as both an analyst and client value manager and has also held senior positions for Barclays, Experian Capital Markets, and EdgeMAC.
Vonderhorst holds a bachelor’s degree in management from Hofstra University and a master’s degree in business administration from Fordham University.
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