FactSet Names BlackRock Veteran Joshua Warren as New CFO, Replacing Helen Shan
FactSet Research Systems Inc. (NYSE: FDS) announced a significant leadership transition on April 8, 2026, appointing Joshua Warren as its new Chief Financial Officer, effective April 13, 2026. Warren replaces Helen Shan, who will transition out of the CFO role and remain with the company for a transitional period before receiving severance benefits.
The Change
The financial data and analytics provider is bringing in Warren with a comprehensive compensation package that reflects the strategic importance of the role. According to the SEC filing, Warren will receive an annual base salary of $500,000 and be eligible for an annual target cash bonus equal to 110% of his base salary. Beginning in fiscal year 2027, he will be eligible for annual equity awards with a target grant date value of $2.25 million.
As part of his hiring package, Warren will receive a one-time new-hire equity grant valued at $1.5 million, structured as $750,000 in non-qualified stock options, $500,000 in restricted stock units (RSUs), and $250,000 in cash. The equity portions vest 50% on each of the third and fourth anniversaries of the grant date, while the cash component includes a clawback provision requiring repayment if Warren resigns or is terminated for cause within his first year.
Outgoing CFO Helen Shan will transition out of her position on April 13, 2026, but is expected to remain employed with FactSet for an unspecified transitional period. During this time, she will continue receiving her base salary, fiscal year 2026 bonus, and employee benefits, though she will not be eligible for new incentive awards or a fiscal year 2027 bonus. Her severance package will be provided in accordance with the company's Executive Severance Plan, contingent upon executing a separation agreement.
Background
Warren, 46, brings extensive financial services experience to FactSet. Most recently, he served as Chief Financial Officer of Envestnet, Inc. from 2023 to 2025, a leading provider of technology solutions and services to financial advisors and enterprises. Prior to Envestnet, Warren spent eight years at BlackRock, the world's largest asset manager, where he held increasingly senior positions.
At BlackRock, Warren served as Managing Director and Global Head of Business Strategy for iShares and Index Investments from 2021 to 2023, overseeing strategy for one of the company's most critical business segments. Before that role, he was Managing Director in BlackRock's Corporate Strategy and Development team, where he likely played a key role in mergers, acquisitions, and strategic initiatives.
Warren's career trajectory shows a pattern of working at the intersection of finance and technology. Before joining BlackRock in 2015, his experience included positions at Barclays Capital Inc., Foros Group, and notably, the United States Department of the Treasury, suggesting experience with regulatory and policy matters. He began his career at the prestigious law firm Skadden, Arps, Slate, Meagher & Flom LLP.
Educationally, Warren holds a Juris Doctor from New York University School of Law and a Bachelor of Arts in Philosophy and History from Dartmouth College, combining legal expertise with a liberal arts foundation.
What It Means
This leadership change comes at a crucial time for FactSet as the financial data and analytics industry faces intensifying competition and rapid technological transformation. Warren's appointment signals several strategic priorities for the company.
His experience at Envestnet, a fintech company focused on wealth management technology, suggests FactSet may be looking to strengthen its technology offerings for financial advisors and wealth managers. This aligns with industry trends where traditional data providers are expanding their software and workflow solutions to capture more wallet share from clients.
Warren's BlackRock tenure, particularly his role leading strategy for iShares and Index Investments, brings valuable expertise in passive investing and ETFs – areas where data and analytics are increasingly critical. His experience could help FactSet better serve asset managers navigating the continued shift toward passive investment strategies.
The compensation structure reveals FactSet's commitment to retaining top talent in a competitive market. The $2.25 million annual equity target and substantial new-hire grant demonstrate the company's focus on aligning executive compensation with long-term shareholder value. The four-year vesting schedule for the new-hire equity ensures Warren has significant skin in the game through at least 2030.
For investors, this transition represents both continuity and change. The planned transitional period with Shan should ensure a smooth handover of responsibilities, minimizing operational disruption. Meanwhile, Warren's diverse background spanning investment management, fintech, and strategy positions him well to navigate FactSet's financial operations while contributing to strategic decision-making.
The timing of this announcement, coming in early April, allows Warren to fully participate in FactSet's fiscal year 2026 planning and execution, with his pro-rated bonus for the year reflecting his mid-April start date. This positions him to have immediate impact on the company's financial strategy and operations as it continues competing with rivals like Bloomberg, Refinitiv, and S&P Global Market Intelligence.