Shavel is replacing Eva Huston, senior vice president, who is pursuing opportunities outside Verisk following a three-month transition period.
Shavel, who has 28 years of experience in the finance industry, most recently served as executive vice president and chief financial officer of Nasdaq Inc. Before that, he served as managing director and Americas head of Financial Institutions Investment Banking and in other capacities at Bank of America Merrill Lynch from 1993 to 2011.
"When we learned that Lee was available to join the Verisk team, we jumped at the opportunity. His broad financial and operational experience and success as both a public company CFO and banker to financial and technology companies will complement our superb finance team. Bringing new perspectives and talents to complement the existing leadership team has always been a part of our winning formula at Verisk," said Scott Stephenson, chairman, CEO and president.
"Lee is oining Verisk at an opportune time," said Stephenson. "Our business has momentum in the fourth quarter of 2017 and into 2018, with all segments of our business gaining strength through innovation."
"I am thrilled to be joining Verisk and look forward to working with Scott and his team to support employees, extend the strong growth of the business, and deliver great returns to shareholders. Verisk has been a leader and innovator in the data analytics sector, generating exceptional growth as demand for its products and services has expanded rapidly. I'm excited to bring my experience to enhance the financial and operating performance of the company and support this exceptional management team," said Shavel.
"Eva has been a strong contributor to Verisk's success since the IPO in 2009, serving as chief financial officer, head of Investor Relations, and treasurer. We appreciate her efforts and many accomplishments and look forward to a smooth transition," said Stephenson.