Bhavesh Dayalji
Chief AI Officer at SPGI
Executive
About Bhavesh Dayalji
Bhavesh Dayalji is Chief Artificial Intelligence Officer (CAIO) at S&P Global and CEO of Kensho, leading enterprise AI strategy and Kensho’s product, engineering, and client-facing teams; he became CAIO in late 2023 and has served as Kensho CEO since 2021 . Previously, he was a senior leader at Deloitte in strategy/M&A and began his career as a software engineer at CERN; he holds a BS in Software Engineering and Physics from De Montfort University . Within SPGI’s 2024 performance context, revenue rose 14% to $14.208B, GAAP net income grew 47% to $3.852B, GAAP diluted EPS rose 50% to $12.35, and TSR was ~13% for 2024 (five-year TSR +7% vs peer group) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Kensho Technologies (S&P Global) | Chief Executive Officer | 2021–present | Scaled AI products for major financial institutions and U.S. Intelligence Community; led Kensho’s growth and integration within S&P Global |
| Kensho Technologies (S&P Global) | Chief Operating Officer | 2019–2021 | Built and led product, engineering, and client-facing teams; accelerated deployment of ML solutions |
| Deloitte Consulting | Senior leader, Strategy & M&A | ~2005–2014 | Led C‑suite engagements on M&A strategy, diligence, and growth in financial services |
| CERN (European Organization for Particle Physics) | Software Engineer | Early career | Contributed to software engineering on the team that discovered the Higgs boson; built strong data/engineering foundations |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed | — | — | No public company directorships or external board roles disclosed in SPGI filings for Dayalji. (Not disclosed) |
Fixed Compensation
- Not disclosed in SPGI’s 2025 proxy; Bhavesh is not listed among named executive officers (NEOs) whose detailed pay is reported .
Performance Compensation
Company incentive design applicable to senior executives (illustrative of the framework Bhavesh operates within):
| Metric | Weighting | Target | Actual | Payout/Funding | Vesting |
|---|---|---|---|---|---|
| Non-GAAP ICP Adjusted Revenue (Enterprise) | 35% of STIC financial component | Company-set goal | $14,189M (+13.5% YoY) | 166.84% enterprise financial funding | Annual cash (STIC) |
| Non-GAAP ICP Adjusted EBITA Margin (Enterprise) | 35% of STIC financial component | Company-set goal | 49.0% | Included in 166.84% financial funding | Annual cash (STIC) |
| Business-Building Scorecard (5 categories) | 30% (6% each) | KPIs per category | GI 100%; C@C 125%; D&T 125%; L&I 125%; E&D 100% | Blended into STIC funding outcome | Annual cash (STIC) |
| PSU – 3-yr cumulative non-GAAP ICP Adjusted EPS | 70% of LTI grant value | 3-yr cumulative EPS target | 2022 PSU cycle earned 40.07% of target | 0–200% range; pays after cycle end | Vests at end of 3-year cycle |
| RSU – time-based | 30% of LTI grant value | Time-based schedule | n/a | n/a | Annual-cycle RSUs vest ~33%/33%/34% over 3 years |
Notes:
- Enterprise STIC pool funded at 151.29% for 2024 (reflects company performance) .
- Long-term PSU performance shifted (from prior CAGR approach) to 3-year cumulative EPS to better reward sustained performance and reduce single-year volatility .
Equity Ownership & Alignment
| Policy/Element | Detail |
|---|---|
| Stock Ownership Guidelines | 7x base salary for CEO; 4x for CFO; 3x for other covered executives; must retain 100% of current holdings and net shares until guideline met; unvested time-based RSUs count; PSUs/options excluded . |
| Anti-hedging/Anti-pledging | Absolute prohibition on hedging (short sales, derivatives, swaps, collars) and pledging/margin accounts for directors, executive officers, and covered employees . |
| RSU Vesting | Annual RSUs typically vest ratably 33%/33%/34% over three fiscal year-ends; some ad hoc RSUs can be cliff-vested (e.g., specific grants) . |
| PSU Design | 2024 PSU awards measure 3‑year cumulative non-GAAP ICP Adjusted EPS; 0–200% payout; vest at end of cycle with settlement after Compensation Committee certification . |
| Beneficial Ownership | The proxy reports ownership for directors and NEOs; Bhavesh Dayalji’s individual ownership is not disclosed (not a named executive officer or director) . |
Employment Terms
| Topic | Key Provisions |
|---|---|
| Severance Plans | Senior Executive Severance Plan provides 12 months base salary continuation plus lump-sum components; CEO has 12 months continuation plus 12 months lump sum; change-in-control increases severance to base+target bonus for 12 months plus lump sum; eligibility by role—individual inclusion for CAIO not disclosed . |
| Change-in-Control Treatment | Double-trigger: RSUs convert/rollover; PSUs convert to time-vested RSUs based on target (if <50% elapsed) or actual/higher of target & actual (if ≥50% elapsed for 2024 PSUs); full vesting on qualifying termination post-CIC; details per plan . |
| Clawbacks (Pay Recovery) | Three policies: Dodd‑Frank financial restatement recoupment; expanded S&P Global Pay Recovery Policy (misconduct, material recalculation, criminal activity); Ratings-specific clawback extending to broader covered individuals . |
| Insider Trading Policy | Strict prohibitions on speculative trading and hedging; applies to execs and immediate family; pledging prohibited . |
| Perquisites & Tax Gross‑ups | Limited perquisites (e.g., professional services, annual physicals, security for CEO/former CEO); no excise tax gross‑ups—company uses “cut-back” methodology under 280G where beneficial . |
Performance & Track Record
| Area | Evidence |
|---|---|
| AI leadership impact | Formalized enterprise AI governance with CAIO role; Bhavesh expanded to lead cross-divisional AI initiatives and Kensho innovation (late 2023) . |
| Product innovation | Launches such as ChatIQ in Capital IQ Pro and Document Intelligence, and Kensho LLM-ready API for LLM integration of SPGI datasets . |
| Partner ecosystem | Strategic collaborations with Accenture (AI learning/benchmarks) and Anthropic (Claude integration via MCP server), positioning SPGI data across GenAI ecosystems . |
| Corporate outcomes (2024) | Revenue $14.208B (+14%); GAAP net income $3.852B (+47%); GAAP diluted EPS $12.35 (+50%); TSR ~13%; enterprise STIC funded 151.29% . |
Fixed Compensation (Tables)
- Not disclosed for Bhavesh Dayalji in the proxy (not a NEO) .
Performance Compensation (Tables)
Company-level 2024 incentive outcomes:
| Item | Value |
|---|---|
| Enterprise STIC funding (% of target) | 151.29% |
| Enterprise financial goals funding | 166.84% |
| 2022 PSU payout (Company program) | 40.07% of target |
Investment Implications
- Alignment: Strong governance—stock ownership guidelines (3x for covered executives), strict anti-hedging/pledging, and robust clawbacks—reduces misalignment risk for executive officers like the CAIO .
- Retention: Enterprise-wide AI elevation and Kensho’s centrality suggest high strategic dependence on Dayalji’s leadership; absence of disclosed individual severance/contract specifics implies reliance on broad-plan protections, with CIC terms that are standard, not overly generous (double trigger) .
- Pay-for-performance: Company STIC/PSU structures tie payouts to revenue, margin, and multi-year EPS—positive for long-term value creation; 2024 enterprise performance was strong, but the 2022–2024 PSU cycle paid 40% highlighting cyclicality and design rigor .
- Trading signals: No pledging allowed; individual Form 4 cadence not available in the proxy—monitor insider filings for Dayalji to assess selling pressure, but policy prohibitions mitigate hedging/pledging risk .