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The 2013 Tech 50: David Craig
In a world deluged with information, 'the more white noise there is, the more valuable the filter,' says the Thomson Reuters executive.
A self-described born geek, David Craig studied electronic and communications engineering at the U.K.s University of Bristol. His education in signal-to-noise ratios, filtering and multiplexing was ideal preparation for todays frenetic financial markets not just because they run on high-performance networks, but also because in a world deluged with information, the more white noise there is, the more valuable the filter, says Craig. That realization colors the 43-year-old Londoners outlook as president of Thomson Reuters $7 billion-in-revenue Financial & Risk business. The Reuters Group veteran and former McKinsey & Co. consultant has played a key role in integrating the two news and data giants that merged to form Thomson Reuters and in recasting the five-year-old entity as a platform company rather than a peddler of single-product point solutions. The shift was necessary to get the full power of data and analytics out to clients, Craig explains. The Eikon trading system, for instance, grew 38 percent from December 31, 2012, through the first three months of this year, to 47,000 desktops. Financial & Risks Marketplaces unit, including Tradeweb (see Lee Olesky, No. 24) and the FXall currency-trading venue acquired last August, increased revenue 3 percent year-over-year in the first quarter, to $456 million. Governance, Risk & Compliance, which Craig started in 2010, gained 8 percent, to $55 million.
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