S&P Overhauls Analyst Team Covering Citi, Goldman

Standard & Poor’s changed its team of analysts covering Wall Street firms, almost two years after the credit crisis led to government bailouts and downgrades for companies including Citigroup Inc. and Goldman Sachs Group Inc.

Craig Parmelee, previously a managing director covering the gaming industry and rival Moody’s Corp., took over last month as head of North American financial institutions analysis, according to a memo from Jay Dhru, the group’s global head. He replaced Rodrigo Quintanilla, who became head researcher within Parmelee’s group, according to the memo, confirmed by S&P spokesman Jeff Sexton.