The 2014 Tech 50: David Craig

< The 2014 Tech 50: Moving Out of the Lab and Into the Cloud

7
David Craig
President,
Financial & Risk
Thomson Reuters
Last year: 10

Revenue fell 1 percent last year in Thomson Reuters’ $6.6 billion Financial & Risk group — and by the same percentage in this year’s first quarter, to $1.7 billion, year-over-year — but the unit is not devoid of bright spots as president David Craig pushes forward with its transformation into what he terms a “platform” business. “The big focus now is on content,” the 44-year-old Londoner explains. Instead of having to buy discrete legacy products, “now you can access all our content from one single point” on any of three flagship platforms: the Eikon desktop network, Elektron for data feeds and Accelus for governance, risk and compliance (GRC). In one very tangible break from the past, the Reuters 3000 Xtra terminal was discontinued in the first quarter; now more than 120,000 users are on the new-generation Eikon, up from 75,000 in September and 47,000 in March 2013. Customers no longer look to a data provider like Thomson Reuters “as an information service,” Craig asserts. “They want to see us as a full solution.” Now considered a “unified platform,” Financial & Risk, which Craig has headed since a year-end-2011 reorganization, no longer breaks out the results of subunits, but among the company’s 2013 highlights were 11 percent revenue growth for the FXall currency marketplace and 14 percent for the GRC business, launched by Craig in 2010.

The 2014 Tech 50

1 Dave Cross	1	3 IAN CURCIO 2011	4 FayFoto/Boston	5 Teri Pengilley
Thomas Secunda Bloomberg	Jeffrey Sprecher Intercontinental Exchange	Catherine Bessant Bank of America Corp.	Stephen Neff Fidelity Investments	Lance Uggla Markit
6	7	8 Photographer:Charlie Simokaitis	9	10 Mark McQueen
Robert Goldstein BlackRock	David Craig Thomson Reuters	Phupinder Gill CME Group	Anna Ewing NASDAQ OMX Group	R. Martin Chavez Goldman Sachs Group
11	12	13	14	15 Christopher Elston
Deborah Hopkins Citi Ventures	Dan Mathisson Credit Suisse	Daniel Coleman KCG Holdings	Michael Spencer ICAP	Michael Bodson Depository Trust & Clearing Corp.
16	17	18 Todd Plitt	19	20
Joe Ratterman BATS Global Markets	Dominique Cerutti Euronext	Ron Levi GFI Group	Gaurav Suri D.E. Shaw Group	Charles Li Hong Kong Exchanges and Clearing
21 Larry Lettera/ Camera 1	22	23	24 XT	25
Lou Eccleston S&P Capital IQ	Lee Olesky Tradeweb Markets	Richard McVey MarketAxess Holdings	Seth Merrin Liquidnet Holdings	Antoine Shagoury London Stock Exchange Group
26 Production	27 Wayne R. Martin	28	29 Thorsten Jansen	30 Adam B. Auel
Christopher Perretta State Street Corp.	Kevin Rhein Wells Fargo & Co.	Peter Carr Morgan Stanley	Hauke Stars Deutsche Börse	Robert Alexander Capital One Financial Corp.
31	32	33 Paul Elledge	34	35 Stephen Brashear
David Gershon SuperDerivatives	Chris Corrado MSCI	Joseph Squeri Citadel	Tanuja Randery BT Global Services	John Bates Software AG
36	37	38	39 Photo Credit: Kevin Irby	40
Gary Scholten Principal Financial Group	David Gledhill DBS Bank	Simon Garland Kx Systems	Cristóbal Conde FinTech Innovation Lab	Jeff Parker EidoSearch
41	42 Jeff Smith Photo	43	44	45
Kim Fournais & Lars Seier Christensen Saxo Bank	Kenneth Marlin Marlin & Associates	Tyler Kim MaplesFS	Jim McGuire Charles Schwab Corp.	Jim Minnick eVestment
46	47	48 tomohisa ichiki	49 David Poultney	50 A.E. Fletcher Photography
Steven O’Hanlon Numerix	Sebastián Ceria Axioma	Yasuki Okai Nomura Research Institute	Niki Beattie Market Structure Partners	Mas Nakachi OpenGamma