The head of the rating agency Standard & Poor's, Neeraj Sahai, who was attracted to McGraw Hill Financial holding from Citigroup to lead this division, leaves the company without having worked there at least 2 years old.
According to Financial Times, the resignation of Sahay was an unexpected result of shifts in leadership and corporate restructuring of McGraw Hill after the acquisition of the Information and financial services company – SNL Financial for $ 2.2 billion.
McGraw Hill plans to merge SNL and S&P Capital IQ, while at the head of the division will be CEO at SNL, Mike Chinn.
The acting CEO of the rating agency will be vice-president of Human Resources at McGraw Hill, John Berisford.
As part of the restructuring in leadership, Imogen Dillon Hatcher, currently leading the S&P Capital, will become a permanent director of the information agency on Platts commodity markets.
McGraw Hill, notes FT, apparently, wants to reduce the activity of the rating agency S&P, the practice of which the financial crisis severely restricted, and switched to the analysis, research and provision of information, because in these areas the rules are softer.
Only this year, S&P has paid US $ 1.4 billion, not to bring the matter before the Court about unreasonably heightening of ratings in order to attract and retain customers.
SNL Financial, founded in 1987, collects, standardizes, analyzes and disseminates data about the companies, the financial sector, markets and transactions M&A, as well as works with news materials for industries such as banking, financial services, insurance, real estate, energy and communications.
McGraw Hill Financial, existing since 1917, is the parent company of the Standard & Poor's rating agency, S & P Capital IQ, Platts, JD Power & Associates and the majority shareholder of S & P Dow Jones Indices - a joint venture with CME Group and News Corp. and one of the leading index providers in the world.