Founded in the shadow of Wall Street giants, this firm has become a trusted voice in credit and proxy advisory
King of Prussia, Pa. — In a financial industry once dominated by a few powerful voices, Egan-Jones Ratings has carved out its own space with an approach that was disruptive by design. When the firm began issuing credit ratings in 1995, it offered something the market had long lacked: timely, affordable, and investor-focused credit evaluations. That bold entrance, made quietly in a Philadelphia suburb, would eventually ripple through Wall Street.
The company gained early notoriety by flagging Enron and WorldCom – two names that would later become synonymous with corporate collapse. Its accuracy amid chaos gave Egan-Jones credibility few newcomers could claim.
Today, the firm is a Nationally Recognized Statistical Rating Organization (NRSRO) and is approved by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider. It remains independently owned and operated with offices in King of Prussia, Pennsylvania, and New York City.
Its mission remains unchanged: develop more efficient capital markets through better information, delivered with speed, accuracy, and integrity.
Raising Red Flags Before the Collapse
One of Egan-Jones’ most defining traits has been its foresight. CEO and founder Sean Egan has never been afraid to challenge conventional wisdom, even when that meant standing apart from the industry’s largest players. Egan-Jones was among the first to raise concerns about the impending credit crisis of 2007 and 2008, positioning Egan as a “David” taking on the “Goliath” agencies like S&P, Moody’s, and Fitch.
Sean Egan appeared before Congress in 2008 and offered a candid warning about the financial ecosystem. He argued that the industry had incentivized inflated ratings and that the issuer-pay model had distorted credit evaluations. Rather than continuing to criticize the legacy agencies, he urged lawmakers to support investor-funded models, which he believed would produce more accurate ratings and restore trust in the financial markets.
Beyond its warnings on sovereign debt, Egan-Jones has built a reputation for spotting risk before it becomes front-page news. Its analysts were ahead of the curve in downgrading firms such as Lehman Brothers, Bear Stearns, MBIA, and IndyMac. That consistency in calling out cracks in the system led Fortune to name Egan the top individual who saw the 2008 crisis coming.
For Egan-Jones, credibility comes not just from being right but from being early and courageous. “We built this firm on the principle of creating products we would want to use ourselves,” said a spokesperson. “That means speed, affordability, and accuracy every time.”
A Quiet Rise In Proxy Power
While Egan-Jones was making its name in credit ratings, the company quietly introduced a second line of business in 2002 that would grow into one of its most influential offerings. Egan-Jones Proxy Services was launched to give institutional investors a comprehensive, independent resource for shareholder voting. Today, that includes vote recommendations, execution of votes, and annual reporting such as N-PX disclosures.
The firm differentiates itself from traditional proxy advisors by staying focused on fiduciary responsibility rather than ideological agendas. Egan-Jones centers its guidance on shareholder value, an approach that has drawn major clients including Vanguard, BlackRock, and State Street.
Convincing large institutions to pivot away from entrenched proxy services was no small feat. The firm accomplished it by drawing attention to weaknesses in the existing providers’ policies and offering a streamlined, investor-first alternative. “We aren’t just checking boxes,” a company representative explained. “We are working to protect capital and amplify the voice of shareholders through accurate and unbiased guidance.”
From insurance companies to registered investment advisers and Taft-Hartley funds, the firm now serves a broad and growing client base. In a world where shareholder voting is increasingly influential, Egan-Jones has emerged as a steady and focused voice of reason.
Inside A Mission-Driven Culture
Internally, Egan-Jones emphasizes principles like personal accountability, continuous improvement, and the idea that intelligence is not concentrated in any one department. Every team member, regardless of tenure, is encouraged to contribute ideas and challenge assumptions. The firm’s culture is shaped by a deep belief in hiring people with good hearts and minds who take the work seriously.
The team works fully remote, a structure that predates many of the post-pandemic shifts adopted by larger firms. Employees receive competitive salaries, health benefits, and generous time off. While professional development often takes place through mentorship and open dialogue rather than rigid programming, the approach has fostered an agile and engaged workforce.
One of the challenges the firm acknowledges is the lack of in-person culture that can come with remote work. To address this, Egan-Jones hosts annual company gatherings to foster connection and celebrate progress.
“We know our people are the heartbeat of what we do,” said a company spokesperson. “So, we invest in people who love to learn, love the work, and believe it matters.”
Preparing For The Next Era
Egan-Jones continues to grow both sides of its business while remaining fiercely committed to its founding values. The company is developing tools and partnerships that will deepen its capabilities and meet rising demands for customization, speed, and clarity. Strategic collaborations with organizations like RiskSpan and MyLogIQ are helping refine the firm’s data and modeling capabilities.
Technology will certainly play a larger role in the firm’s operations in the coming years, but leadership is cautious about overreliance on automation. “Artificial intelligence is powerful, but it should be plugged into thoughtful, structured workflows,” said a company representative. “Insight doesn’t come from shortcuts. It comes from process and purpose.”
On the marketing front, Egan-Jones continues to promote its model through research-driven thought leadership. Regular conference attendance, a proactive sales team, and timely credit commentaries shared with institutional investors have helped the company build brand recognition while staying true to its independent roots.
For three decades, Egan-Jones has stood firm in an industry shaped by competition, volatility, and at times, scandal. It has weathered market disruptions and shifting investor priorities with a simple but powerful formula: do the work, do it early, and do it right.
“We are here to deliver truth with speed and precision,” said a representative. “That’s what investors deserve, and that’s what we aim to deliver every single time.”
