Reuters has taken a 25 per cent stake in Citywire, the financial publishing group behind the eponymous UK retail investor news and commentary Web site. Mark Wood, managing director, Reuters content partners, will join Citywire’s board.
Citywire produces original commentary and financial analysis for private investors and financial advisors, with eight of its team of 18 financial journalists qualified as regulated investment advisers. The company also licenses its content to a variety of institutions, including UK online broker DLJdirect, French stockbroker Fimatex, and GNI, the derivatives broking arm of Old Mutual.
Citywire will be an important contributor to Reuters planned UK personal finance portal, says Wood, carrying Citywire’s branded commentary, analysis and opinion. He says Reuters will also work closely with Citywire in the development of new products and content feeds for the UK personal finance market.