NEW YORK and LONDON, Sept. 4, 2018 /CNW/ -- The Financial & Risk business of Thomson Reuters (NYSE/TSX: TRI) today announced that Brian J. West has been appointed Chief Financial Officer of Refinitiv effective November 5, 2018. The Financial & Risk business will be known as Refinitiv on October 1, 2018, after the closing of Thomson Reuters' sale of a 55% majority stake in the Financial & Risk business to private equity funds managed by Blackstone.
"As we get ready to begin the exciting journey as an independent business, our relationships with the financial community, both private equity and debt investors, shift considerably," said David Craig, President of Thomson Reuters Financial & Risk. "I am pleased that Brian will be joining Refinitiv at a crucial time in our evolution, adding to our leadership team a deep understanding of the investment community and a proven track record of growth and operational excellence with both established companies and fintech start-ups."
Brian will be joining Refinitiv from Oscar Insurance, an innovator in US health care, where he is Chief Financial Officer and Executive Vice President of Operations. Prior to Oscar, Brian spent nine years at Nielsen as Chief Financial Officer and then Chief Operating Officer. Previously, he held various CFO and other finance leadership positions over 16 years at General Electric.
Thomson Reuters announced on January 30 that it had signed a definitive agreement to enter into a strategic partnership with Blackstone. As part of the transaction, Thomson Reuters will sell a 55% interest in its Financial & Risk business to private equity funds managed by Blackstone. An affiliate of Canada Pension Plan Investment Board and an affiliate of GIC will invest alongside Blackstone.
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SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking, including the company's expectations regarding the timing for closing of the proposed Financial & Risk transaction and Mr. Craig's comments and statements regarding the future Financial & Risk business. These forward-looking statements are based on certain assumptions and reflect our company's current expectations. As a result, forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. There is no assurance that a transaction involving all or part of the Financial & Risk business will be completed or that other events described in any forward-looking statement will materialize. You are cautioned not to place undue reliance on forward-looking statements which reflect expectations only as of the date of this news release. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements.
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