McGraw Hill Financial elected Douglas Peterson as president and CEO of the company, effective Nov. 1. 

He will succeed Harold McGraw III, who will continue as chairman of the company. 

Peterson was also elected as a member of the company's board of directors, effective immediately. 

Currently, Peterson is president of Standard & Poor's Ratings Services.

"Doug Peterson is a proven global leader with an impressive track record of achievements in his outstanding career, McGraw said. 

"He has successfully led the evolution at Standard & Poor's Ratings Services since he joined the Company in 2011. Doug is a seasoned executive with more than 25 years of experience in financial services, including as Chief Operating Officer of Citibank, N.A., which operates in over 100 countries. Earlier in his career, Doug was CEO of Citigroup Japan and Chief Auditor of Citigroup. He also held leadership positions for Citibank in Uruguay and Costa Rica."