Thomson Reuters Financial & Risk business announced that following the closing of the strategic partnership transaction between Thomson Reuters and private equity funds managed by Blackstone, the Financial & Risk business will be known as Refinitiv.
Closing of the transaction is expected to occur in the second half of 2018 and until then the business will continue to be known as Thomson Reuters Financial & Risk.
The new name, Refinitiv, was created 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.
The Financial & Risk business of Thomson Reuters will continue to focus on providing leading data and insights, trading platforms, market data infrastructure and open technology platforms that support and connect a thriving global financial markets community – driving progress in areas such as trading, investment, wealth management, regulatory and market data management, enterprise risk and tackling financial crime.
“Thomson Reuters Financial & Risk has a rich history and reputation and it was important to us that our new name celebrated both our pride in our legacy and also the defining role we will continue to play as an integral and innovative part of the financial markets community,” commented David Craig, President, Thomson Reuters Financial & Risk and future CEO of Refinitiv.
Thomson Reuters Financial & Risk’s flagship platforms, Eikon and Elektron Data Platform, will continue to be central to Refinitiv’s open platform strategy, with over 20,000 developers using its open APIs to create an ecosystem of over 50,000 customer and partner applications.
Thomson Reuters and Blackstone announced their strategic partnership on 30 January 2018. As part of the transaction, Thomson Reuters will sell a 55% interest in the Financial & Risk business and will retain a 45% interest in the business. Canada Pension Plan Investment Board and an affiliate of GIC will invest alongside Blackstone.