At the same time, Wenig will take up a new role with responsibility for leading the company's four customer segments.

Wenig has been president of the Reuters Investment Banking and Brokerage segment since September 2001. He joined the group in 1993 as corporate counsel, Reuters America and has held a number of senior management positions.

He is a non-executive director of the Instinet Group, Multex and Nastech Pharmaceutical Company.