CDC Ixis has recruited Raffaele Carnevale, a credit analyst from rating agency Standard & Poor's (S&P), to head research coverage of European local authorities within its debt capital markets team.

Carnevale, who was previously in charge of rating Italian local authorities during a three-year period at S&P's office in Milan, has joined the French investment bank's head office in Paris, where he will report to Jean François Paren, head of fixed-income research.