The country’s leading provider of financial learning, credentials, and certification, CSI Global Education Inc., has been sold to Moody’s Corporation, subject to customary closing adjustments.
CSI will operate within Moody’s Analytics, strengthening the ratings agency’s capabilities for delivering credit training programs, research and analytical services, and risk management software to financial institutions worldwide.
“We are excited to combine CSI’s leadership in financial education and credentialing with Moody’s international reach and expertise in credit risk management,” said Dr. Roberta Wilton, president and CEO, CSI Global Education.
“By joining Moody’s Analytics, we will align our common commitment to enhancing the integrity of the capital markets, while providing CSI with a strategic edge in fulfilling our vision as an industry standard bearer and partner of choice for regulators, financial institutions and individual investors globally.”
The global reach of Moody’s will assist CSI Global Education in its expansion efforts—the company already has limited competition.
“We’ll be quite a powerhouse on the world stage,” she says. “Moody’s is a household name in the financial services and its customers will be our customers.”
Wilton says the American market is underserved, with education providers focused more on exam preparation, and that makes it a natural market for expansion.
While the company is already active in China, Wilton expects demand for financial professional education will surge as the securities and banking industries mature.
“We seem to fit well into markets that recognize the value of higher level credentials and the need for very well-rounded and education investment advisors,” she says. “Moody’s has recognized that we have a thing or two here in Canada to teach the world about standards, integrity and maintaining a well-regulated marketplace.”
Moody’s chairman and CEO Raymond W. McDaniel, Jr. praised CSI for its unrivalled position in Canada, as well as the company’s global expansion. CSI offers financial proficiency training in China, Europe, the Middle East, Central America and the Caribbean.
“CSI represents another means for Moody’s to pursue our objectives of enhancing risk management practices, furthering financial education and promoting efficiency in the capital markets,” he said in a press release. “The stability and resilience of Canadian institutions during the financial crisis offers important lessons for securities and banking markets around the world, and we look forward to partnering with CSI to provide enhanced analytical insight and standards to our customers.”
CSI Global Education is owned by ONCAP, a mid-market private equity firm owned by Onex Corporation.
“We have worked closely with CSI’s management team for almost five years to expand the company’s business both domestically and abroad,” said Jeremy Thompson, managing director of ONCAP. “The sale to Moody’s will allow CSI to continue this growth and further develop its product innovation.”
CSI will continue to operate under the CSI Global Education name. The company’s management team, staff and operations will continue to be based in Toronto.