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MSCI Inc. is a leading provider of critical decision support tools and solutions for the global investment community, helping investors address challenges in a transforming investment landscape . The company operates through four reportable segments: Index, Analytics, ESG and Climate, and All Other – Private Assets, which includes Real Assets and Private Capital Solutions . MSCI's product lines include indexes, portfolio construction and risk management tools, ESG and climate solutions, and private asset data and analysis .
- Index - Provides a comprehensive range of indexes that serve as benchmarks for global investment portfolios and are used for asset-based fees, primarily calculated based on assets under management linked to MSCI indexes .
- Analytics - Offers portfolio construction and risk management tools that help investors make informed decisions by analyzing and managing investment risks .
- ESG and Climate - Delivers ESG and climate solutions that enable investors to integrate environmental, social, and governance factors into their investment processes .
- All Other – Private Assets - Includes Real Assets and Private Capital Solutions, providing data and analysis for private asset investments .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
C.D. Baer Pettit ExecutiveBoard | President and COO | None | Joined MSCI in 2000, became President in 2017 and COO in 2020, instrumental in launching MSCI ONE and integrating ESG solutions. | |
Henry A. Fernandez ExecutiveBoard | Chairman and CEO | Royalty Pharma (Board Member), Stanford University (Board Member), King Abdullah University (Board Member), Memorial Sloan-Kettering Cancer Center (Board Member), Foreign Policy Association (Board Member). | CEO since 1998, led MSCI's IPO in 2007, recognized as one of the world's top 30 CEOs by Barron's in 2019 and 2021. | View Report → |
Andrew C. Wiechmann Executive | Chief Financial Officer (CFO) | None | Joined MSCI in 2012, became CFO in 2020, previously served as Chief Strategy Officer and Head of Investor Relations. | View Report → |
Robert J. Gutowski Executive | General Counsel and Head of Corporate Affairs | None | General Counsel since 2020, added Head of Corporate Affairs in 2024, led compliance frameworks and DE&I initiatives. | |
Scott A. Crum Executive | Chief Human Resources Officer | None | CHRO since 2014, led culture transformation, DE&I initiatives, and corporate responsibility programs. | |
Jacques P. Perold Board | Director | CapShift (Chairman), New York Life MainStay Funds (Trustee), Partners in Health (Trustee), Allstate Corporation (Director). | Director since 2017, co-founder of CapShift, former President of Fidelity Management & Research Company. | |
June Yang Board | Director | NetApp (Director), UiPath (Director). | Director since 2024, former VP at Google Cloud, with expertise in AI and cloud infrastructure. | |
Linda H. Riefler Board | Director | CSX Corporation (Director), Stanford Women on Boards (Executive Leadership Team). | Director since 2007, retired from Morgan Stanley in 2013, with expertise in talent management and risk oversight. | |
Marcus L. Smith Board | Director | Eaton Vance Funds (Trustee), First Industrial Realty Trust (Director). | Director since 2017, retired CIO at MFS Investment Management, with extensive investment expertise. | |
Michelle Seitz Board | Director | MeydenVest Partners (CEO), Sana Biotechnology (Director). | Director since 2024, former CEO of Russell Investments, with expertise in asset management and private wealth. | |
Paula Volent Board | Director | Rockefeller University (CIO), 1stdibs.com (Director). | Director since 2020, CIO at Rockefeller University, with expertise in alternative investments and endowments. | |
Rajat Taneja Board | Director | Visa (President of Technology) | Director since 2021, President of Technology at Visa, recognized for AI and cybersecurity expertise. | |
Robert G. Ashe Board | Independent Lead Director | Shopify (Board Member) | Director since 2013, became Lead Director in 2018, former CEO of Cognos Inc., and retired from IBM in 2012. | |
Robin L. Matlock Board | Director | Iron Mountain (Director), Cohesity (Director), People.ai (Director), Dremio Corporation (Director). | Director since 2022, former CMO of VMware, with expertise in marketing and digital transformation. | |
Sandy C. Rattray Board | Director | Southbank Centre (Governor) | Director since 2020, former CIO of Man Group plc, with expertise in investment and technology. | |
Wayne Edmunds Board | Director | None | Director since 2015, former CEO of Invensys plc, and Chair of MSCI's Audit Committee. |
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Given the technical challenges and data access issues in creating private capital indices, how does MSCI plan to ensure the accuracy and reliability of these indices, and what are the key risks associated with relying on data directly from general partners?
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With the contribution of price increases to new sales being slightly smaller than last year and with moderated price increases due to the economic environment, how do you plan to sustain revenue growth, especially considering potential pressures on client spending?
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Despite the recent strong performance in the Analytics segment, what factors might cause future subscription growth to be lumpy, and how sustainable is double-digit organic growth in this segment given the challenging dynamics you've mentioned?
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As you focus on expanding your footprint among mature client segments like asset managers while also targeting newer segments such as wealth managers and corporates, how do you plan to navigate the pressures and headwinds affecting your traditional client base?
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With higher AUM levels potentially leading to expenses at the high end of your guidance ranges, how do you balance the need for investment in key growth areas with maintaining attractive profitability and free cash flow conversion?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
S&P Dow Jones Indices LLC | A joint venture of S&P Global Inc. and CME Group Inc., competes by offering indexes in similar categories, varying widely in scope, including geographic region, business sector, and weighting methodology, and may be used by clients in various markets worldwide. |
FTSE Russell | A subsidiary of the London Stock Exchange Group plc, competes by offering indexes in similar categories, varying widely in scope, including geographic region, business sector, and weighting methodology, and may be used by clients in various markets worldwide. |
Competes by offering indexes in similar categories, varying widely in scope, including geographic region, business sector, and weighting methodology, and may be used by clients in various markets worldwide. | |
Bloomberg Finance L.P. | Competes by offering indexes in similar categories, varying widely in scope, including geographic region, business sector, and weighting methodology, and may be used by clients in various markets worldwide. |
Solactive AG | Competes by offering indexes in similar categories, varying widely in scope, including geographic region, business sector, and weighting methodology, and may be used by clients in various markets worldwide. |
Axioma (part of SimCorp) | Competes with Analytics offerings from a range of competitors. |
BlackRock Solutions | Competes with Analytics offerings from a range of competitors. |
Competes with Analytics offerings from a range of competitors. | |
Sustainalytics Holding B.V. | A part of Morningstar, Inc., competes with ESG and Climate offerings from a range of competitors. |
Institutional Shareholder Services Inc. | Majority owned by Deutsche Börse AG, competes with ESG and Climate offerings from a range of competitors. |
Competes with ESG and Climate offerings from a range of competitors. | |
Refinitiv | A London Stock Exchange Group business, competes with ESG and Climate offerings from a range of competitors. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Fabric RQ, Inc. | 2024 | MSCI acquired Fabric RQ, Inc. on January 2, 2024 for an aggregate purchase price of $16.1 million (comprising $8.0 million in cash and $8.1 million contingent consideration) to enhance its analytics segment by acquiring key intangible assets and technology. |
Foxberry Ltd. | 2024 | MSCI acquired Foxberry Ltd. on April 16, 2024 for approximately $42.6 million, structured with cash, deferred, and contingent payments, thereby adding $22.5 million in intangible assets and $18.3 million in goodwill to strengthen its index technology capabilities. |
The Burgiss Group, LLC | 2023 | MSCI acquired the remaining 66% interest in Burgiss on October 2, 2023 for $696.8 million in cash (total aggregate investment of $913 million) to enhance its private asset data and analytics capabilities, integrating the Caissa Platform and broadening its client reach. |
Real Capital Analytics, Inc. | 2021 | MSCI acquired RCA on September 13, 2021 for $948.7 million in cash, adding approximately $70 million in annual recurring revenue and significant goodwill to its Real Estate and Private Assets segments, thereby complementing its data and analytics offerings. |
Recent developments and announcements about MSCI.
Earnings
New Earnings (Q4 2024)
·Jan 29, 2025, 10:11 PMView full earnings summary →MSCI’s Q4 shows a 35% surge in AUM for non-market cap indexes, offset by slower subscription run-rate growth and higher cancels in Analytics/ESG. Wealth, Private Capital Solutions (15% run-rate), and active ETF demand could drive stronger momentum ahead.
8-K Filings
8-K Filing
·Feb 19, 2025, 9:34 PMLeadership ChangesView full 8-K filing →Wayne Edmunds, a board member since 2015 and part of key committees, will retire effective the 2025 Annual Meeting. The Board will be reduced from 13 to 12 members. There were no disagreements with management.