Thomson Reuters Financial & Risk business will be renamed as Revinitiv following the closure of the company’s strategic partnership with private equity fund manager Blackstone, which will acquire 55% of the business and leave 45% with Thomson Reuters Financial & Risk in its new guise as Refinitiv. David Craig, president of the Financial & Risk business at Thomson Reuters, will become CEO of Refinitiv.
Thomson Reuters says the name was created based on feedback from customers and industry influencers on the intrinsic value of the Financial & Risk business to the industry. It is a name that aims to blend definitive action in financial markets and a bold focus on the future with a 160-year legacy of excellence as a pioneer in financial technology.
As a standalone company, Refinitiv will continue to focus on providing data and insight, trading platforms, market data infrastructure and open technology platforms that connect global financial markets. The Thomson Reuters Financial & Risk platforms, Eikon and Elektron Data Platform, will be central to the new company’s open platform strategy.
Looking forward, Refinitiv plans to drive progress in areas including trading, investment, wealth management, regulatory and market data management, enterprise risk and tackling financial crime.
The deal between Blackstone and Thomson Reuters Financial & Risk is expected to reach completion in the second half of 2018.