How is S&P Global Transforming Market Intelligence?

S&P Global is reorganizing its Market Intelligence business as it expands AI-enabled products and agentic workflows. The company announced the new operating model on July 6, alongside a series of executive appointments and the retirement of its longtime chief legal officer.

The restructuring matters most for what it does to accountability. By giving agentic infrastructure its own executive, its own reporting line, and its own recast financials, S&P Global has made agentic AI a budget line rather than a feature request buried inside a product team.

Backed by recast financial statements, the overhaul signals a long-term business realignment designed to expand AI-enabled enterprise intelligence while supporting future revenue growth and margin improvement.

Front-End Experience vs. Back-End Infrastructure

The company has divided its Market Intelligence business into two operating groups: Kensho Data & Platforms and Enterprise Solutions. The first focuses on customer-facing products and AI experiences, while the second is responsible for the underlying data, software and infrastructure that support enterprise and agentic workflows.

Sally Moore, already Chief Client Officer, has been appointed Co-Head of Market Intelligence for Kensho Data & Platforms. Her organization brings together data delivery, platform capabilities and client engagement to create what S&P Global describes as an AI-led customer experience.

Within the division, Bhavesh Dayalji becomes Head of Kensho Data & Intelligence, leading Kensho Data's efforts to develop AI-enabled products from S&P Global's trusted datasets. Whit McGraw has been named Head of Platforms, overseeing Capital IQ, Ratings Direct, Visible Alpha and With Intelligence as the company works toward a more unified, AI-native platform experience.

As enterprise AI matures, companies are moving beyond adding AI assistants to existing products and reorganizing their businesses around AI-native workflows. S&P Global's restructuring reflects that shift.

Enterprise Solutions, the AI Infrastructure Layer

The second organization, Enterprise Solutions, reflects a different strategic priority.

Darren Thomas remains its leader but now assumes the additional role of Co-Head of Market Intelligence and joins S&P Global's Executive Leadership Team.

Unlike Kensho Data & Platforms, Enterprise Solutions is centered on enterprise infrastructure. According to the company, the division will deliver solutions that support critical financial market infrastructure, data networks and agentic workflows.

The unit also becomes home to S&P Global's pricing and reference data assets, including consensus pricing and valuation methodologies spanning public and private markets. Consolidating these assets under Enterprise Solutions suggests the company is positioning foundational datasets to support a growing range of enterprise software and AI-driven workflows across its product portfolio.

Narrowing Market Intelligence

S&P Global also moved two capabilities out of Market Intelligence entirely. Maritime & Trade shifts to S&P Global Energy, where the company says it will support customers with global supply chain data and signals.

Credit Analytics risk capabilities move to S&P Global Ratings, extending that division's coverage into small and midsized companies. Both moves leave Market Intelligence more focused on AI-enabled data and workflow products, with sector-specific work pushed to the divisions that already own those relationships.

To back the reorganization, S&P Global recast its quarterly segment financials for all of 2025 and the first quarter of 2026 under the new structure. The recast figures are posted on the company's Investor Relations site under its SEC Filings & Reports and Quarterly Earnings & Monthly Metrics sections.

The moves leave Market Intelligence more tightly aligned around AI-enabled financial intelligence rather than a broader mix of sector-specific information businesses. 

Data Alone No Longer Sells Itself

Chief Executive Officer Martina Cheung positioned the changes around the growing importance of trusted enterprise data.

"As AI transforms how intelligence is consumed and acted upon, S&P Global is evolving. In a world where data is abundant, but not all created equal, customers need trusted, connected, essential intelligence that brings context and conviction to decision-making," she said.

Cheung also linked the restructuring directly to business performance, saying the new structure is intended to improve customer experience while supporting revenue growth and margin expansion.

As generative AI becomes widely available, proprietary and trusted datasets increasingly become the foundation that differentiates enterprise AI offerings from general-purpose AI models.

A Decade-Long Legal Chief Departs Mid-Transition

The announcement also included the planned retirement of Chief Legal Officer Steve Kemps, who has served in the role since joining S&P Global in 2016.

Kemps will remain with the company through December 31, 2026, to support the transition while S&P Global searches for his successor. If a replacement is appointed earlier, he will continue as a special advisor to Cheung for the remainder of his tenure.

The Bigger Picture 

This split is not isolated to S&P Global. Fiserv launched agentOS as a dedicated operating layer for agentic banking, and FIS partnered with Anthropic to build a Financial Crimes AI Agent piloting at BMO and Amalgamated Bank. Experian went further still, building its Agent Operating System as a standalone trust and orchestration layer, with ServiceNow as its first integration partner.

Results so far are early but directional. FIS announced pilot deployments with BMO and Amalgamated Bank, while Fiserv said agentOS is currently running in beta with two of its six co-developing financial institutions, with broader availability targeted for August 2026. Experian's own research found nearly half of financial firms still struggle to integrate data into AI workflows.

S&P Global's distinct advantage is its proprietary data at scale, and the restructuring positions Enterprise Solutions to support the company's growing portfolio of AI-enabled and agentic workflows.