Wenig, Frank, Ahearn, Daly, Floeck, Reid-Dodick Out as Thomson Reuters Axes Execs in Markets Shakeup

thomson-reuters

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: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

Banks seemingly build more than buy, but why?

Waters Wrap: A new report states that banks are increasingly enticed by the idea of building systems in-house, versus being locked into a long-term vendor contract. Anthony explores the reason for this shift.

Most read articles loading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here