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The 2015 Tech 50: David Craig

The Thomson Reuters president of Financial and Risk claims the No. 11 spot on this year’s Tech 50 ranking.

David Craig
President, Financial & Risk
Thomson Reuters

Amid sluggish economic and market conditions, revenue was flat across Thomson Reuters in 2014 as the financial data giant continued to reach for returns from Thomson Corp.’s $17 billion acquisition of Reuters Group in 2008. But the company said its Financial & Risk group, which accounted for more than half of its $12.6 billion in total revenue, had its “first year of positive net sales” since that crisis year, with earnings before interest, taxes, depreciation and amortization rising 9 percent and operating profit 17 percent. “We’re finally turning back into a growth business,” proclaims David Craig, the London-based president of Financial & Risk since the end of 2011. The group has been focused for three years on streamlining 800 legacy products and consolidating its data and content offerings on three flagship platforms: the Eikon desktop, Elektron for data and trading applications and Accelus for governance, risk and compliance. With the integration nearing completion and the sales outlook brightening, “it gives you confidence to invest,” says Craig. The 45-year-old Reuters veteran and former McKinsey & Co. consultant envisions exchanges, banks, brokerages and content providers using Thomson Reuters’ platforms for their own innovation and product distribution. Craig points to an app built last year in Beijing for Thomson Reuters, now open to customers and third-party developers, showing all qualified instruments that can trade over Shanghai–Hong Kong Stock Connect (see Charles Li, No. 15) as an example of the type of agile development that will be the way of the future. With an eye on the fintech start-up explosion, Craig says Thomson Reuters is ready to take minority stakes in promising ventures. “A couple of years ago, I think the industry was in denial about fintech,” he says. “Now it has finally realized it’s a major shift.”

See the full story, “The 2015 Tech 50: Racers to the Edge.”

The 2015 Tech 50
1. Jeffrey Sprecher
Intercontinental Exchange
2. Catherine Bessant
Bank of America Corp.
3. Phupinder Gill
CME Group
4. Lance Uggla
5. Robert Goldstein
6. Shawn Edwards &
Vlad Kliatchko
7. R. Martin Chavez
Goldman Sachs Group
8. Deborah Hopkins
Citi Ventures
9. Stephen Neff
Fidelity Investments
10. Adena Friedman
Nasdaq OMX Group
11. David Craig
Thomson Reuters
12. Daniel Coleman
KCG Holdings
13. Michael Spencer
14. Michael Bodson
Depository Trust & Clearing Corp.
15. Charles Li
Hong Kong Exchanges and Clearing
16. Chris Concannon
BATS Global Markets
17. Christopher Perretta
State Street Corp.
18. Antoine Shagoury
London Stock Exchange Group
19. Kevin Rhein
Wells Fargo & Co.
20. Neil Katz
D.E. Shaw & Co.
21. Lee Olesky
Tradeweb Markets
22. Richard McVey
MarketAxess Holdings
23. Seth Merrin
Liquidnet Holdings
24. Robert Alexander
Capital One Financial Corp.
25. Frank Bisignano
First Data Corp.
26. John Marcante
Vanguard Group
27. Joseph Squeri
28. Lou Eccleston
TMX Group
29. Claude Honegger
Credit Suisse
30. Chris Corrado
31. David Gledhill
DBS Bank
32. John Bates
Software AG
33. Michael Cooper
BT Radianz
34. Gary Scholten
Principal Financial Group
35. Sunil Hirani
trueEX Group
36. Hauke Stars
Deutsche BÖrse
37. Brian Conlon
First Derivatives
38. Jim Minnick
39. Lars Seier Christensen & Kim Fournais
40. Tyler Kim
41. Jim McGuire
Charles Schwab Corp.
42. Steven O'Hanlon
43. Sebastián Ceria
44. Yasuki Okai
NRI Holdings America
45. Stephane Dubois
46. Mazy Dar
47. Brian Sentance
Xenomorph Software
48. Mas Nakachi
49. John Lehner
BNY Mellon Technology Solutions Group
50. Jock Percy

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