Robin Munroe-Davies, Chairman served as a regular officer in the Royal Navy from 1958-1968, operating as a carrier pilot mainly in the Far East. He subsequently obtained a Master of Science degree from the Sloan School of Management, Massachusetts Institute of Technology in Boston.

On leaving MIT, Mr. Monro-Davies spent a year as an investment analyst on Wall Street and then joined Fox-Pitt Kelton (FPK), a US brokerage firm specialising in institutional research on banks and insurance companies. He subsequently became Joint Managing Director of FPK. In 1976 FPK set up a subsidiary, IBCA, which specialised in credit rating of banks outside the United States. IBCA expanded rapidly to become the largest European rating agency.

In 1992 a controlling share of IBCA was sold to the French company Fimalac and Mr. Monro-Davies relinquished all responsibilities at FPK. In 1997 IBCA bought Fitch Investors Service, the US rating agency creating a new company Fitch IBCA, the world's third largest rating agency of which he was appointed CEO. In the year 2000 Fitch IBCA bought Duff & Phelps and in 2001 bought Thomson BankWatch. At the end of 2001 Mr. Monro-Davies retired as CEO of Fitch which had now been renamed Fitch Ratings.