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Thomson Reuters’ Redwood Steps Down; What’s Next?

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The resignation this week of Mark Redwood, head of Thomson Reuters Markets’ Sales & Trading unit, confirms Step 2 of the three-step CEO succession scenario we outlined back in March. But it appears that despite two of our three predictions coming to pass, Thomson Reuters will look outside the firm when it moves to name a successor to Markets head Devin Wenig when he assumes a role within Thomson Reuters corporate.

You’ll recall our Macbethian timeline suggested that Research & Advisory head Eric Frank would relocate from his New York base to Hong Kong. Sure enough, he did.

It suggested that Redwood would resign in the summer. It’s summer, and he resigned on June 30 to join a Nottingham-based startup, funded by Thomson Reuters. Details to follow.

But our timeline also suggested that Enterprise head Jon Robson was in line to take the top slot at Markets. Alas, that appears not to be the case. Thomson Reuters will bring in talent from outside to lead its most important business unit, we are hearing.

It will be tantalising to see whether Thomson Reuters opts for a seasoned executive from the vendor community, or continues its recent propensity to delve into the banking world to fill the slot. Or indeed, goes outside of finance altogether.

This one has a long way to run.

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