Thomson Reuters Rebadges F&R Unit Refinitiv, Names Craig CEO
Craig has led the F&R division since 2012, and will preside over its transition to a standalone company.
Thomson Reuters has announced that David Craig, currently president of its Financial & Risk division, will become CEO of the business post spin-off, which will be renamed Refinitiv.
Craig joined then-Reuters in 2007 as group strategy director, and has served as president of the F&R division since 2012. Before joining Reuters, he was a partner at McKinsey & Co., prior to which he was a principal at management and technology consulting firm American Management Systems.
The creation of Refinitiv is a result of a deal agreed in January whereby Thomson Reuters will sell 55 percent of the F&R business to a consortium led by private equity firm Blackstone that also includes the Canada Pension Plan Investment Board. The new name will take effect once the deal closes in the second half of this year.
Officials say the vendor chose the new name “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.”
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