KING OF PRUSSIA, PA — Egan-Jones Ratings Company has appointed former Securities and Exchange Commission official Kenneth L. Godwin to oversee its credit ratings operations, placing a longtime regulator in charge of the function responsible for evaluating debt instruments as the firm expands its private credit business.
Godwin, who spent more than two decades at the SEC, will serve as senior director of ratings and report directly to the Egan-Jones Board of Directors, the King of Prussia-based company said.
The appointment brings regulatory oversight experience into a business that rated more than 3,200 private credit transactions in 2025, according to the company.
Godwin previously served as branch chief in the SEC’s Office of Credit Ratings from 2011 to 2025, overseeing examination teams responsible for annual regulatory reviews of Nationally Recognized Statistical Rating Organizations, or NRSROs.
Those organizations provide credit ratings used by financial institutions and investors to assess the creditworthiness of borrowers and debt securities.
Godwin spent 14 years overseeing NRSRO examinations, giving him direct experience with the regulatory requirements governing credit rating agencies.
Before becoming branch chief, he worked as a staff accountant in the SEC’s NRSRO and broker-dealer examination programs.
His financial services career spans more than 25 years, including more than 21 years at the federal securities regulator.
At Egan-Jones, Godwin will oversee the ratings function and support the company’s regulatory compliance efforts.
The direct reporting relationship with the board places oversight of the ratings operation under a senior executive with experience examining the industry’s regulatory practices.
Juan Marcelino, chairman of the Egan-Jones Board of Directors, said Godwin’s background would strengthen the company’s ratings operations.
“Ken’s extensive regulatory experience overseeing NRSRO examinations at the SEC makes him an invaluable addition to Egan-Jones,” Marcelino said.
Godwin said the board had provided him with the authority to lead the ratings function and reinforce compliance practices.
“I am confident that the Board has given me the mandate and support to lead the ratings function, strengthen our compliance efforts, and uphold the high standards our clients and the market expect,” Godwin said.
Egan-Jones has operated in the credit ratings industry for more than 30 years, with a substantial presence in private placement ratings.
The company reported serving more than 700 clients globally and said all 50 of the largest domestic life insurance groups hold private placement instruments rated by the firm.
Private placements allow borrowers to raise capital directly from institutional investors rather than through broadly marketed public debt offerings.
Credit ratings provide investors with assessments of the credit risk associated with those obligations.
Godwin’s appointment adds an executive with extensive regulatory examination experience to Egan-Jones’ ratings leadership as the company continues serving institutional investors in private credit markets.
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