Upcoming CEO Sanoke Viswanathan worked for 15 years at JPMorgan and headed the bank’s rapidly growing international banking unit in his most recent role.

FactSet Research Systems (FDS) stock fell 4.8% on Tuesday after the financial data provider said CEO Phil Snow will retire and JPMorgan executive Sanoke Viswanathan will replace him as the company’s top boss.

Snow will leave after three decades at the company, during which he has served as chief executive for the last 10 years.

FactSet said that Snow will step down from his role in September 2025. He would also retire from the board and serve as a senior advisor up to the end of the calendar year to support the transition.

Under Snow, FactSet, which competes with the likes of Bloomberg, S&P Global and LSEG, has expanded its offering through several acquisitions. The stock was added to the S&P 500 index in 2021.

Finance industry veteran Viswanathan worked for 15 years at JPMorgan. Most recently, he was the chief of the top U.S. bank’s international consumer and wealth unit and was also a member of JPMorgan’s Operating Committee.

According to a Bloomberg report, Viswanathan was seen as one of the contenders to replace CEO Jamie Dimon. The bank appointed another possible candidate, Marianne Lake, to head its rapidly growing international consumer banking unit.

According to TheFly, Barclays analysts said the CEO transition came "to the surprise of most investors," adding that some are also interpreting the news as a negative read for second half results.

However, the brokerage stated that the change is "timely," as the board may have recognized the company's need for a catalyst.

Retail sentiment on Stocktwits was in the ‘neutral’ (45/100) territory, while retail chatter was ‘high.’

FDS’s Sentiment Meter and Message Volume as of 03:53 a.m. ET on June 4, 2025 | Source: Stocktwits

“Investors don’t like change. Snow was a known quantity, and he kept the business on track,” one retail trader said about the stock move.

FactSet stock has fallen 10.3% year to date (YTD).

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