He is filling a newly created role that is designed to bring a variety of S&P services under one roof. The firm offers many services such as real-time equity feeds that are huge in America but hardly exist in Asia. The firm decided that in order to plug its various products and services in Asia, including introducing ones new to this region, it needed someone running the whole show.

It found Reidy, who comes from rival Dow Jones, where he had been regional managing director. He is also an ex-Citibanker, serving in Singapore, the Middle East and New York.

Reidy's responsibilities at S&P will include overseeing various investment products such as real-time equity feeds, fund databases, equity and fund research, portfolio advisory services and indices. The firm is also trying to grow its affiliate businesses in Korea, India and Taiwan. S&P is in hiring mode across the region, including Hong Kong, in order to be able to market the services it is introducing to Asia.