"The manager has informed us that it is in the process of seeking a replacement for Petroni," the research house said.
"In the interim, head of equities and chief executive officer Paul Xiradis will assume Petroni's coverage of the financials sector."
Prior to Petroni's appointment in 2007, Xiradis provided analytical coverage of the financials sector in addition to his other responsibilities.
"We have spoken with the manager and are comfortable with its interim process," S&P said.
==
==
Petroni is set to depart at the end of the month.
