The 2016 Tech 50: David Craig

The president of financial and risk at Thomson Reuters moves to No. 12 from No. 11 on the Tech 50 ranking.

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< The 2016 Tech 50

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12
David Craig
President, Financial & Risk
Thomson Reuters
Last Year: 11

At the World Economic Forum meeting in Davos, Switzerland, in January, David Craig’s business card was a conversation piece: Printed on it is a bar code that when scanned displays his Thomson Reuters Permanent Identifier, or PermID. The New York–based media and information company has created some 200 million such codes for people, legal entities and securities in a drive to automate and secure identification processes in an increasingly digital marketplace. One area where strong identification is currently lacking is the blockchain, which was designed to protect anonymity. “We believe that transactions cannot be anonymous in a trusted world,” says Craig, 46, president of Thomson Reuters Financial & Risk, which accounts for half of the corporation’s $12.2 billion in annual revenue. “While you might not want the market to know who your counterparty is, you need to know.” PermID is being offered to various blockchain and federated-identity initiatives, and is being rolled out on World-Check, Thomson Reuters’ anti-money-laundering and know-your-customer compliance service. Financial & Risk, the unit Craig has headed since 2011 — three years after Thomson Corp.’s $17 billion acquisition of Reuters Group — has consolidated more than 850 products into some 150 offerings on three flagship platforms: the Eikon desktop, Elektron for data and trading applications, and Accelus for governance, risk and compliance. “We’ve moved from product to platform, which for us is about a business model, not just a technology play,” Craig explains. Under the open platform model, third-party developers and clients can create applications and integrate them into their Eikon terminals. The App Studio, launched in October, is generating a regular flow of new programs from independent software developers in what amounts to an expanding ecosystem for innovation. “I really admire these fintech companies that I spend a lot of time with,” Craig says. “Five men and women in a garage can do a lot at the moment.”

Visit The 2016 Tech 50: Making Financial Services Faster, Cheaper, Bigger for more.


The 2016 Tech 50

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1. Catherine
Bessant
Bank of America Corp.

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2. Jeffrey Sprecher
Intercontinental Exchange

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3. Lance Uggla
Markit

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4. Phupinder Gill
CME Group

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5. Shawn Edwards and Vlad Kliatchko
Bloomberg

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6. R. Martin Chavez
Goldman Sachs Group

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7. Robert Goldstein
BlackRock

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8. Adena Friedman
Nasdaq

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9. Deborah Hopkins
Citi Ventures

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10. Daniel Coleman
KCG Holdings

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11. Stephen Neff
Fidelity Investments

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12. David Craig
Thomson Reuters

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13. Michael Spencer
ICAP

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14. Michael Bodson
Depository Trust & Clearing Corp.

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15. Charles Li
Hong Kong Exchanges and Clearing

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16. Chris Concannon
BATS Global Markets

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17. Blythe Masters
Digital Asset Holdings

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18. David Rutter
R3CEV

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19. Neil Katz
D.E. Shaw & Co.

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20. Lee Olesky
Tradeweb Markets

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21. Richard McVey
MarketAxess Holdings

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22. Seth Merrin
Liquidnet Holdings

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23. Robert Alexander
Capital One Financial Corp.

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24. Brad Katsuyama
IEX Group

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25. Antoine Shagoury
State Street Corp.

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26. David Gledhill
DBS Bank

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27. Lou Eccleston
TMX Group

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28. Andreas Preuss
Deutsche BÖrse

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29. Dan Schulman
PayPal Holdings

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30. Scott Dillon
Wells Fargo & Co.

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31. Mike Chinn
S&P Global Market Intelligence

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32. Craig Donohue
Options Clearing Corp.

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33. Gary Norcross
Fidelity National Information Services

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34. Steven O’Hanlon
Numerix

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35. Sebastián Ceria
Axioma

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36. Michael Cooper
BT Radianz

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37. Tyler Kim
MaplesFS

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38. Neal Pawar
AQR Capital Management

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39. David Harding
Winton Capital Management

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40. Chris Corrado
London Stock Exchange Group

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41. Brian Conlon
First Derivatives

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42. Jim Minnick
eVestment

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43. Stephane Dubois
Xignite

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44. Mazy Dar
OpenFin

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45. Yasuki Okai
NRI Holdings America

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46. Kim Fournais
Saxo Bank

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47. Jock Percy
Perseus

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48. Robert Schifellite
Broadridge Financial Solutions

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49. Brian Sentance
Xenomorph Software

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50. Pieter van der Does
Adyen

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