Moody’s Corp. has named Mark Kaye, a MassMutual executive and financial services veteran, as its new chief financial officer.
Kaye has more than 15 years of experience in business finance, financial planning and analysis, strategy, and large-scale project management. He will join Moody’s on Aug. 20, replacing Jeffrey Hare, who has been serving as principal financial officer since mid-June.
Longtime Moody’s CFO Linda Huber stepped down to pursue other opportunities.
“Mark has an impressive record of success as a financial steward and senior executive at leading financial services companies,” Moody’s CEO Raymond McDaniel said in a news release. “I am confident that he will help us deliver Moody’s continued strong financial performance, drive long-term shareholder value and prove to be an excellent addition to our senior management team.”
Kaye has served as senior vice president and head of financial planning and analysis at Massachusetts Mutual Life Insurance Co. as well as CFO of MassMutual U.S., the company’s domestic insurance and retirement plan operation.
Before joining MassMutual in 2015, he held a range of senior finance leadership roles at Voya Financial (formerly ING U.S.) and began his career in the investment banking division of Credit Suisse First Boston.
“I have long admired Moody’s as an institution and I look forward to working with such a talented team at an organization that is so critical to the efficient functioning of the world’s financial markets,” Kaye said.
Moody’s said Kaye will be paid an initial annual base salary of $525,000 and receive a sign-on payment of $150,000 30 days after his start date and a new hire award valued at $1,200,000 on Oct. 1, consisting of restricted stock units that vest annually over two years.