Wenig, Frank, Ahearn, Daly, Floeck, Reid-Dodick Out as Thomson Reuters Axes Execs in Markets Shakeup
![thomson-reuters thomson-reuters](/sites/default/files/styles/landscape_750_463/public/import/IMG/715/162715/thomson-reuters-580x358.jpg.webp?itok=X6Pl3G7U)
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 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
Waters Wavelength Podcast: Standard Chartered’s Brian O’Neill
Brian O’Neill from Standard Chartered joins the podcast to discuss cloud strategy, costs, and resiliency.
SS&C builds data mesh to unite acquired platforms
The vendor is using GenAI and APIs as part of the ongoing project.
Chevron’s absence leaves questions for elusive AI regulation in US
The US Supreme Court’s decision to overturn the Chevron deference presents unique considerations for potential AI rules.
Reading the bones: Citi, BNY, Morgan Stanley invest in AI, alt data, & private markets
Investment arms at large US banks are taken with emerging technologies such as generative AI, alternative and unstructured data, and private markets as they look to partner with, acquire, and invest in leading startups.
Startup helps buy-side firms retain ‘control’ over analytics
ExeQution Analytics provides a structured and flexible analytics framework based on the q programming language that can be integrated with kdb+ platforms.
The IMD Wrap: With Bloomberg’s headset app, you’ll never look at data the same way again
Max recently wrote about new developments being added to Bloomberg Pro for Vision. Today he gives a more personal perspective on the new technology.
LSEG unveils Workspace Teams, other products of Microsoft deal
The exchange revealed new developments in the ongoing Workspace/Teams collaboration as it works with Big Tech to improve trader workflows.
IBM report finds ‘shadow’ data significant contributor to data breaches
As AI and cloud take on greater importance in the capital markets, firms need to consider their threat impact zones.