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The 2017 Tech 40: Lance Uggla

< The 2017 Tech 405. Lance UgglaPresidentIHS MarkitLast year: 3

In "the world of large information sets," as Lance Uggla describes today's reality, many may aspire to the title "information powerhouse." IHS Markit's top executives laid claim to it in late 2015 when they began to explore the merger of equals that had created the London-based, $3.5 billion-in-revenues data and analytics enterprise. Uggla, then CEO of financial information services company Markit, joined Jerre Stead, his counterpart at diversified data publisher IHS, in announcing their merger agreement in March 2016. Thirteen months later, at an investor presentation in New York, Stead proclaimed the vision of the now-integrated "powerhouse combination" to be "the leading source for critical information, analytics, and insight that power growth, efficiency, and value for our customers." Markit, a valuation, transaction processing, and indexing provider that former TD Securities executive Uggla founded in 2003, had more than 3,000 institutional customers by the time it went public in 2014. The financial segment today accounts for roughly a third of total IHS Markit revenue, with transportation and energy each in the 25 percent range. The company has 14,000 employees and 50,000 customers; among the latter are 85 percent of the Fortune Global 500. Uggla cites "access to the C-suite in all our verticals — including asset managers, energy, technology, and manufacturing" as a foundation for competitive advantage in providing insights, analytics, and expertise. But the 55-year-old president, who is due to succeed Stead as CEO at year-end, adds that IHS Markit can maintain its edge only by investing in new technologies and capabilities, fueled by more than $125 million in postmerger cost synergies. Uggla revealed some cutting-edge examples to the investor day audience: a high-performance, scenario-driven valuation capability for upstream energy companies; deep-learning sentiment analysis based on natural-language-processing algorithms; and automated index construction. "There is a technology angle in all the incremental investments that we will be putting to work in IHS globally," Uggla says. He notes that a key player in bringing data and analytics together is chief data officer Yaacov Mutnikas. Formerly of the Bank of England, hedge fund firm Bridgewater Associates, and risk management systems company Algorithmics, Mutnikas joined Markit in September 2015 as co-head of solutions.

 The 2017 Tech 40Click below to view profiles
1. Adena FriedmanNASDAQ2. Catherine BessantBank of
America Corp.3. Robert GoldsteinBlackRock4. Jeffrey SprecherIntercontinental Exchange5. Lance UgglaIHS Markit
6. Shawn Edwards & Vlad KliatchkoBloomberg7. David CraigThomson Reuters8. Michael SpencerNEX Group9. Don CallahanCitigroup10. Elisha WieselGoldman Sachs Group
11. Michael BodsonDepository Trust & Clearing Corp.12. Terrence DuffyCME Group13. Charles LiHong Kong Exchanges and Clearing14. Sean BelkaFidelity Investments15. Chris ConcannonCBOE Holdings
16. Guy ChiarelloFirst Data Corp.17. Steven LieblichCitadel18. David RutterR3CEV19. Blythe MastersDigital Asset Holdings20. Alfred SpectorTwo Sigma Investments
21. Neil KatzD.E. Shaw Group22. Lee OleskyTradeweb Markets23. Richard McVeyMarketAxess Holdings24. David GledhillDBS Bank25. Seth MerrinLiquidnet Holdings
26. Antoine ShagouryState Street Corp.27. Peter Brown &
Robert Mercer
Renaissance Technologies28. Lou EcclestonTMX Group29. Peter CherecwichNorthern Trust Corp.30. Mike ChinnS&P Global Market Intelligence
31. Chris CorradoLondon Stock Exchange Group32. Neal PawarAQR Capital Management33. Gary NorcrossFidelity National Information Services34. Steven O'HanlonNumerix35. Sebastián CeriaAxioma
36. Brian ConlonFirst Derivatives and Kx Systems37. Tyler KimMaplesFS38. Michael CooperBT Radianz39. Robert SchifelliteBroadridge Financial Solutions40. Jim MinnickeVestment