S&P Global has restructured its Market Intelligence division into two verticals, elevating Kensho from an embedded AI engine to a named, client-facing layer and confirming the direction the business set out earlier this year. The reorganisation, announced on 6 July, folds data delivery, platform capabilities and client engagement into a single AI-led structure and moves two established Market Intelligence businesses out of the division entirely.
It makes structural what was already visible in March, when the firm described opening Capital IQ Pro to third-party AI agents through MCP servers and a single access point built with Kensho. Kensho, acquired in 2018 and until recently positioned as an in-house innovation subsidiary, becomes “Kensho Data” – the client-facing data product and AI delivery layer across Market Intelligence, led by Bhavesh Dayalji in a new role as Head of Kensho Data & Intelligence.The two verticals are Kensho Data & Platforms, co-headed by Sally Moore alongside her expanded Chief Client Officer role, and Enterprise Solutions, co-headed by Darren Thomas, who joins the group’s executive leadership team. Platforms consolidates Capital IQ, Ratings Direct, Visible Alpha and With Intelligence under Whit McGraw, with the stated aim of simplifying and unifying client interfaces. Enterprise Solutions takes pricing and reference data, including consensus pricing and valuation across public and private markets, and positions itself around agentic workflows tied to financial-market infrastructure.
Beneath the leadership reshuffle sits quieter portfolio surgery. Market Intelligence’s Maritime & Trade business moves to S&P Global Energy, and its Credit Analytics risk capabilities move to S&P Global Ratings. Both moves narrow Market Intelligence towards a data-and-workflow core and away from the broader remit it has carried, a narrowing the leadership framing does not dwell on.
President and CEO Martina Cheung tied the changes to a market in which data is abundant but unevenly trusted, arguing that customers increasingly need connected, contextualised intelligence rather than volume – and noting the firm expects the changes to support revenue growth and margins.
For buy-side data teams already navigating entitlement and provenance questions as agents reach into vendor platforms, the reorganisation commits S&P Global to a clear position: that the firm best placed to sell agent-ready data is one built around it. The next release cycle will show how much of that is new capability and how much is existing capability under a clearer name.
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