McGraw Hill Financial

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McGraw Hill Financial
Founded 1909
Headquarters New York, NY
Key People Harold McGraw III, Chairman; Douglas Peterson, President and CEO
Products education, publications, ratings

McGraw Hill Financial provides education, financial services, investment services and ratings through its various divisions, including Standard & Poor's ratings service, McGraw Hill Education, publications such as J.D. Power & Associates and Platts, data and research provider S&P Capital IQ, and financial index company S&P Dow Jones Indices, a joint venture with exchange CME Group.

In February of 2016, the company said it would change its name to S&P Global Inc. later that year.[1]

History

Founder James H. McGraw, a teacher in upstate New York, began working in publishing in 1884, and purchased the American Journal of Railway Appliances in 1888. At the same time, co-founder John A. Hill was working as an editor at Locomotive Engineer. Over the next fifteen years, the two men pursued their separate careers specializing in technical and trade publications. In 1899, McGraw incorporated his publications under the heading of "The McGraw Publishing Company;" in 1902, John Hill followed with "The Hill Publishing Company."

The two men had crossed paths over the years and their mutual interest in science and technology led to an alliance in 1909. The book departments of the two publishing companies merged to form the McGraw-Hill Book Company. John Hill took the office of President; James McGraw became the company's Vice-President. The rest of the functions of the McGraw and Hill companies continued their separate existence, buying and expanding on numerous publications.

After the sudden death of John A. Hill in 1916, James McGraw taking over as Book Company President. In 1917, the remaining parts of the companies merged to form the McGraw-Hill Publishing Company, Inc. and moved into the Hill Building on Tenth Avenue in New York City. Some of the publications that had duplicated each other merged, for example, Hill's Engineering News and McGraw's Engineering Record became McGraw-Hill's Engineering News-Record.[2]

McGraw Hill Financial announced in July of 2015 that it had agreed to acquire SNL Financial for approximately $2.225 billion in cash.[3]

Products and Services

The company's brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, and J.D. Power.

Key People

References

  1. McGraw Hill Plans to Shed Family Name After 128 Years. The Wall Street Journal.
  2. Corporate History. McGraw-Hill Companies.
  3. McGraw Hill Financial to Acquire SNL Financial. McGraw Hill Financial.