More changes at the top for Thompson Reuters.
Devin Wenig, CEO of Reuters Markets Division has resigned from Reuters.
He is leaving less than a month after the appointment of Shanker Ramamurthy was joined on 20th June as President of Sales and Trading, Markets division and was for a whole month reporting to Devin.
Tom Glocer, CEO of Reuters will assume Devin’s responsibilities.
The Markets division’s current organizational structure (Sales & Trading, Investment & Advisory, Enterprise and Media) will be combined into three units:
- Financial Professionals & Marketplaces: Focusing on services for professionals delivered to screens and trading marketplaces, combining the former Sales & Trading and Investment & Advisory businesses
- Enterprise Solutions: Focusing on services and infrastructure for financial firms as a whole, continuing and expanding the current Enterprise unit
- Media: Providing news and information tailored for media and business professionals
The official Reuters Press Release talks of streamlining divisions.
The FT puts a different slant on the story (click on story directly from Google search), with talk of delays and slow take up of the new web trading platform Eikon.