Wenig, Frank, Ahearn, Daly, Floeck, Reid-Dodick Out as Thomson Reuters Axes Execs in Markets Shakeup
As Inside Market Data went to press, Thomson Reuters made a number of surprise cuts to senior management—including Devin Wenig, chief executive of the vendor’s Markets division—as part of a major reorganization of its financial information organization designed to “flatten” its structure, simplify its business model, create synergies and accelerate growth, officials say.
Thomson Reuters’ Markets division previously comprised four business areas—Sales & Trading, encompassing its trader desktop solutions, headed by recent hire Shanker Ramamurthy (IMD, May 30); Enterprise, which includes the vendor’s feeds, data platforms and reference data businesses, headed by Jon Robson; Investment & Advisory, which provides data and services to portfolio managers, investment bankers and research analysts, headed by Eric Frank; and Media, which comprises the vendor’s news business, headed by Chris Ahearn.
Under the new structure, the vendor will merge the Sales & Trading unit with the Investment & Advisory group to form a new department, dubbed Financial Professionals & Marketplaces, which will be headed by Ramamurthy. As a result, Eric Frank is one of several execs leaving the vendor, along with Ahearn, who is replaced as head of Media by Susan Taylor Martin, former president of global investment focus accounts.
The vendor also let go chief marketing officer Lee Ann Daly, managing director of global sales and customer service Joerg Floeck and global head of HR for the Markets division John Reid-Dodick. Robson will continue to run an “expanded” Enterprise business, renamed Enterprise Solutions—though the vendor declines to provide any further details of what this expansion will involve.
Thomson Reuters CEO Tom Glocer will take over the Markets division following the departure of Wenig, who spent a total of 17 years at the vendor, including as chief operating officer of Reuters prior to its merger with Thomson Corp. in 2007.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Bloomberg expands GenAI summary options on Terminal
The additions include an expansion of its AI-powered news summaries, as well as a new AI summary tool for company-related news content.
AI enthusiasts are running before they can walk
The IMD Wrap: As firms race to implement generative and agentic AI, having solid data foundations is crucial, but Wei-Shen wonders how many have put those foundations in.
Buy-side data heads push being on ‘right side’ of GenAI
Data heads at Man Group and Systematica Investments explain how GenAI has transformed the quant research process.
Jump Trading spinoff Pyth enters institutional market data
The data oracle has introduced Pyth Pro as it seeks to compete with the traditional players in market data more directly.
Treasury market urged to beef up operational resilience plans
NY Fed panel warns about impact of AI and reliance on critical third parties.
Waters Wavelength Ep. 339: Northern Trust Asset Management’s Jan Rohof
This week, Jan Rohof from Northern Trust Asset Management joins to discuss how asset managers and quants get more context from data.
EY and Microsoft partner to bring agentic AI to risk management
The two firms are part of a deal to bring agentic AI processes to core operations like lending, servicing and risk, starting at Eurobank.
T. Rowe taps Genesis, Cusip lawsuit, FanDuel-CME tie-up, and more
The Waters Cooler: Tokenization and private markets, EuroCTP-BMLL, StateStreet-PriceStats, and more.
Most read
- Bloomberg expands GenAI summary options on Terminal
- Nasdaq’s blockchain proposal to SEC gets mixed reviews from peers
- Data infrastructure must keep pace with pension funds’ private market ambitions