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Key people at IHS Markit.
IHS Markit provided critical information, analytics, and solutions for major industries and economic markets, encompassing financial data, pricing services like credit default swaps, and assets such as Jane's Defence Weekly. The organization combined financial information services from Markit with broader data from IHS following their 2016 merger, establishing itself as a global leader in transparency and analytics for opaque markets. By 2021, the company had grown to nearly $5 billion in annual revenue and employed 15,000 individuals worldwide. Serving over 3,000 customers, including traders and regulators, the firm was notably acquired by S&P Global in a $44 billion transaction announced in 2020. Lance Uggla, who founded Markit, served as CEO of the combined entity. Markit was founded in 2003 by Lance Uggla, merging with IHS in 2016 to form IHS Markit.
Key people at IHS Markit.
IHS Markit was a global leader in data, analytics, and solutions, serving industries including financial services, transportation, resources (like energy and chemicals), and consolidated markets.[1][3][4] Formed by the 2016 merger of IHS (founded 1959) and Markit (founded 2003), it provided pricing data, indices, forecasts, trade processing, research, and consulting to enhance transparency, reduce risk, and drive efficiency for clients like traders, engineers, carmakers, and energy firms.[1][2][4] Headquartered in London with over 13,000 employees across 50+ locations, it generated $4.658 billion in revenue under CEO Lance Uggla before its acquisition by S&P Global in February 2022, after which it operated as a subsidiary.[1][3][4]
IHS originated in 1959 in Colorado as Information Handling Services (IHS), initially creating microfilm databases for aerospace engineers, later expanding into broad industry research and data services.[1][3] Markit was founded in 2003 in St Albans, UK, by Lance Uggla as Mark-it Partners, focusing on credit default swap (CDS) pricing and financial data; it grew rapidly during the 2007 subprime crisis, launched MarkitSERV in 2009 for OTC derivatives processing, and went public in 2014.[2][3] The pivotal 2016 all-stock merger of equals between IHS and Markit formed IHS Markit, combining aerospace/industry data with financial analytics, followed by acquisitions and the 2022 S&P Global merger to amplify its global scale.[1][2][3]
IHS Markit rode the wave of data explosion in finance, energy, and transportation, capitalizing on post-2008 regulatory demands for transparent derivatives pricing and the shift to analytics-driven decisions amid digital transformation.[2][4] Its timing aligned with rising needs for real-time data in volatile markets—like subprime crisis growth for Markit and aerospace digitization for IHS—while acquisitions built a moat in fragmented sectors.[1][3] By merging broad industry data with financial tools, it influenced ecosystems through benchmarks (e.g., CDS pricing, vehicle forecasts) that standardized operations for institutions, carmakers, and energy players, ultimately strengthening S&P Global's position in global intelligence post-2022.[1][4][5]
Integrated into S&P Global since 2022, IHS Markit's legacy endures through enhanced data platforms, with growth likely driven by AI-augmented analytics, ESG forecasting, and real-time supply chain tools amid geopolitical shifts and electrification trends.[1][4][5] Evolving regulations in finance and energy, plus demand for predictive insights in transportation, position its capabilities to expand influence within S&P's ecosystem, potentially pioneering hybrid data services that blend historical depth with emerging tech. This builds on its foundational role as a data pioneer, from microfilm origins to global analytics powerhouse.[1][3]
