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Phil Snow to step down in September. The board has chosen someone outside the firm….
Sanoke Viswanathan has been announced as the next CEO of Factset. Sanoke was most recently at JPMorgan Chase, where he was the CEO of International Consumer & Wealth.
$FDS ( ▼ 0.22% ) has not seen the best performance for its stock in a long time. A new CEO gives it the opportunity to make some real changes. Maybe we will finally see a more aggressive acquisition strategy? Maybe they will dive deeper into the world of wealth management. There is a ton of wealthtech that is being built, and Factset has an opportunity to lean further into wealth.
I think Phil Snow had a good run, but it’s time for a change. It’s time for us to see what Factset can ultimately be. Can they be the next S&P? Can they make transformational changes or acquisitions to reposition the business as more than it is today?
I’d love to see them build the risk side of the business and get more into the index game. I’d love to see them make some AI acquisitions. I’d love to see them dive deeper into wealth management. I’d love to see them buy some data that isn’t focused on just the financial services sector and repoisiton themselves as a much larger data & information services provider. There are many ways you could take $FDS ( ▼ 0.22% ) forward, but sharing a larger vision is the first step. Let’s see what we get in the first earnings call post Sanoke taking over.
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