Perry Rahbar

Strategic Advisor Fitch Group

Last Reviewed: September 19, 2026

Executive Summary

Perry Rahbar founded dv01 in 2014 to solve a problem he had lived through on a trading desk. He spent a decade trading mortgage bonds — as a managing director in mortgage-backed securities trading at Bear Stearns, and then as executive director and co-head of CMBS trading at J.P. Morgan, which acquired Bear Stearns in 2008 — and the defining feature of that period was that the people buying and selling securitised loans could not see the loans. Performance data arrived late, in inconsistent formats, aggregated past the point of usefulness. dv01 built the layer that makes securitisations legible at the individual loan level, for institutional investors, banks and issuers. Fitch acquired the company, and dv01 now sits inside Fitch Group as its loan-level data and analytics business. In August 2026, after twelve years running it, Rahbar handed leadership to chief operating officer Jonathan Warrick and moved to a strategic advisory role at Fitch Group, where he continues to support the business and its long-term direction.

Career Highlights

• Founded dv01 in 2014 and led it for twelve years as chief executive.
• Built the leading loan-level data, reporting and analytics platform for securitised lending markets, giving institutional investors and banks visibility into loan pools that had previously been opaque.
• Led dv01 through its acquisition by Fitch, after which it became the loan-level data and analytics business within Fitch Group.
• Managing Director in MBS trading at Bear Stearns, and Executive Director and co-head of CMBS trading at J.P. Morgan, across roughly a decade on mortgage bond desks.
• dv01 named a winner in the 2016 Forbes Fintech 50 awards.
• Recognised by HousingWire as a Rising Star and separately as a Tech Trendsetter among mortgage industry innovators.
• Finalist for the 2020 Ernst & Young Entrepreneur of the Year award in New York City, and recipient of the Emory Entrepreneur Award for financial services.

Professional Journey

Rahbar’s career began on mortgage trading desks at what turned out to be the most instructive possible moment. He rose to managing director in mortgage-backed securities trading at Bear Stearns, the firm whose collapse in March 2008 was the first major casualty of the mortgage crisis, and continued at J.P. Morgan — which acquired Bear Stearns — as executive director and co-head of CMBS trading. Roughly ten years in total were spent trading mortgage bonds, spanning the run-up, the crisis and the aftermath.

The lesson he drew was specific rather than moral. The problem was not simply that the underlying loans were bad; it was that market participants had no practical way to find out whether they were. A securitisation is a pool of thousands of individual loans, and the data describing how those loans were performing reached investors slowly, inconsistently formatted and aggregated to the point where the interesting variation had been averaged away. Analysts rebuilt the same datasets independently, badly, and at enormous cost.

dv01, founded in 2014, was the answer to that. It is a data management, reporting and analytics platform that normalises loan-level data across securitised lending markets and presents it to institutional investors, banks and issuers in a consistent form — so that a buyer can interrogate what is actually in a pool rather than infer it from summary statistics. The first employee, an engineer named Jonathan Warrick, joined the same year. The company built coverage across consumer and mortgage lending sectors, and by its own account reached visibility over more than ninety per cent of the market it addresses. It was named a winner in the Forbes Fintech 50 in 2016, and Rahbar was recognised by HousingWire as both a Rising Star and a Tech Trendsetter, and was a finalist for Ernst & Young’s Entrepreneur of the Year award in New York in 2020.

Fitch acquired dv01, which became the loan-level data and analytics business inside Fitch Group — a logical home, since a ratings and research group and a loan-level transparency platform are addressing the same informational failure from different ends. Rahbar continued to lead the business after the acquisition.

On 10 August 2026, Fitch Solutions announced the succession. Jonathan Warrick, who had risen from first employee and engineer in 2014 to chief operating officer, was appointed Head of dv01. Rahbar, after twelve years leading the company he founded, moved into a strategic advisory role at Fitch Group, saying he would support Warrick and stay involved in dv01’s long-term direction.

Education

Emory University

Bachelor’s degree, Economics and Political Science

He is also a recipient of the Emory Entrepreneur Award for financial services. No graduation year is published, and the degree designation above is inferred from sources describing him as a graduate of Emory who majored in economics and political science rather than from an explicit statement of the award.