The McGraw-Hill Companies Announces Organizational and Management Changes
NEW YORK, Nov. 15, 2010 /PRNewswire via COMTEX/ -- The McGraw-Hill Companies (NYSE: MHP) today announced organizational and management changes to drive global growth and innovation.
- The current Financial Services segment will be realigned into two separate segments:
- Standard & Poor's -- the leading credit ratings company -- with Deven Sharma as President, and
- McGraw-Hill Financial -- combining leading brands and businesses such as S&P Indices, Capital IQ, Valuations & Risk Strategies and MarketScope Advisor -- with Lou Eccleston as President.
- Jack F. Callahan, Jr., who most recently served as CFO at Dean Foods and in senior management roles at PepsiCo, General Electric Company and McKinsey & Company, will become Executive Vice President and CFO of The McGraw-Hill Companies, succeeding Robert J. Bahash.
- Robert J. Bahash will become the new President of McGraw-Hill Education.
New Segments Will Better Serve Global Investors
"The establishment of McGraw-Hill Financial under Lou Eccleston is the culmination of actions taken over the past two years to harness the power of our financial information, data and analytics and to organize them on a common sales and marketing platform," said Harold McGraw III, Chairman, President and Chief Executive Officer of The McGraw-Hill Companies. "This change will enhance our ability to deliver a broad and deep suite of products for investors across asset classes around the world, positioning us to capitalize on the growth trends we see in the global financial markets."
In 2008, Mr. Eccleston joined Standard & Poor's to lead the newly formed unit, Fixed Income Risk Management Services (FIRMS), designed to give customers new and innovative ways to manage investment and trading strategies. Recent introductions from that unit include Risk2Price, which helps investors determine whether they are being adequately compensated for risk, and the Credit Health Panel, a new way to look at the financial health of a company relative to its peers. McGraw-Hill Financial plans to deploy the most innovative technology strategies to deliver to customers a portfolio of cross-asset analytics, integrated desktop services, valuation and index benchmarks and investment recommendations in the rapidly growing $16 billion financial information, data and analytics market.