Veteran Devin Wenig is leaving Thomson Reuters, where he was head of the Markets division (its focus being on financial information and trading systems) as part of a reorganisation that will see that division split in three.
CEO Tom Glocer will take over Wenig’s responsibilities, and the division will now be organised as: Financial Professionals and Marketplaces, Media and Enterprise Solutions. The company’s low-latency offerings, including market data feeds, enterprise data distribution platform and the Elektron hosting service, continue to be part of the Enterprise group, headed by Jon Robson.
Accelerating growth and operating synergies are behind the re-org. Or, to put it another way, doing more with less. Growth in the Markets division was “somewhat slower than anticipated” in the company’s second quarter.