01 October 2016
Find out more

Thomson Reuters disbands Market and Professional divisions

28 September 2011  |  8182 views  |  0 Thomson Reuters logo web screen shot

Thomson Reuters is to break up its gargantuan Markets and Professional divisions in favour of smaller and more focussed business units as part of a major restructuring of the company that has already seen the exit of a number of senior staffers.

The break-up of the troubled Markets division was signalled in July with the surprise ousting of Markets CEO Devin Wenig amid lacklustre sales to financial services clients.

Under the latest phase of the re-org, James Smith, currently CEO of the Professional division has been named COO of Thomson Reuters. The new role has been created in relation to the company's plans to abandon its current divisional structure and "transition to a set of focused business units".

Thomson Reuters CEO Tom Glocer says the changes will streamline the organisation and "enable us to work better across business units to achieve growth and capture operating efficiencies from scale. The professional markets in which we operate are marked by increasing collaboration among specialists and Thomson Reuters must operate with the speed and agility needed to serve these demanding professionals."

During the company's Q2 earnings call in July, Glocer outlined a two-step plan for Markets, based on a shake-up of sales roles and a repositioning of the product mix around the Eikon desktop and Elektron network. Details on the exact nature of this repositioning are not yet forthcoming.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Thomson Reuters to sell trade and risk unit to Vista Equity Partners

Thomson Reuters to sell trade and risk unit to Vista Equity Partners

23 September 2011  |  10034 views  |  0 comments
Wenig out as Reuters shakes up Markets division

Wenig out as Reuters shakes up Markets division

22 July 2011  |  11295 views  |  0 comments
Thomson Reuters moves to meet bank uncertainty over OTC rule shake-up

Thomson Reuters moves to meet bank uncertainty over OTC rule shake-up

11 July 2011  |  8861 views  |  0 comments
Thomson Reuters names Ramamurthy president, sales and trading

Thomson Reuters names Ramamurthy president, sales and trading

23 May 2011  |  9269 views  |  0 comments
Thomson Reuters integrates StreamBase CEP tech with Elektron

Thomson Reuters integrates StreamBase CEP tech with Elektron

18 May 2011  |  8604 views  |  0 comments
Thomson Reuters buys World-Check

Thomson Reuters buys World-Check

17 May 2011  |  12331 views  |  0 comments
Thomson Reuters unveils Eikon desktop

Thomson Reuters unveils Eikon desktop

14 September 2010  |  12318 views  |  0 comments
Thomson Reuters beefs up Enterprise leadership team

Thomson Reuters beefs up Enterprise leadership team

22 April 2010  |  7083 views  |  0 comments
Thomson Reuters unveils high-speed global network

Thomson Reuters unveils high-speed global network

20 April 2010  |  8277 views  |  0 comments
Thomson Reuters turns to the Web for markets overhaul

Thomson Reuters turns to the Web for markets overhaul

14 April 2010  |  10178 views  |  0 comments
Market data rivals battle for share of wallet as terminal sales wilt

Market data rivals battle for share of wallet as terminal sales wilt

06 August 2009  |  10593 views  |  0 comments
Thomson Reuters to invest $1 billion in new products - FT

Thomson Reuters to invest $1 billion in new products - FT

03 March 2009  |  9976 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit i2cinc.comVisit contisgroup.comFind out more

Top topics

Most viewed Most shared
Ripple rudely gatecrashes Sibos partyRipple rudely gatecrashes Sibos party
11326 views comments | 35 tweets | 33 linkedin
BNP Paribas is working with clients on blockchain deploymentBNP Paribas is working with clients on blo...
8450 views comments | 15 tweets | 31 linkedin
Banks ready for real-world blockchainBanks ready for real-world blockchain
7208 views comments | 22 tweets | 29 linkedin
PayPal and Lenovo team on biometric authentication for laptopsPayPal and Lenovo team on biometric authen...
6847 views comments | 13 tweets | 16 linkedin
hands typing furiouslyCan Blockchain Prevent Money Laundering?
6510 views 0 | 24 tweets | 9 linkedin