Thomson Reuters appoints Weisberg as FX head; Singh to leave


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Phil Weisberg, the founder and chief executive officer of FXall, has been appointed global head of FX for Thomson Reuters’ trading platform business Marketplaces, as part of a management shake-up that comes five months after it acquired FXall.

As a result of the management reshuffle, Jas Singh, who had run Thomson Reuters FX division, will leave the company after 10 years following a short transition period, the firm said in an email. Singh told an industry conference in July that the acquisition of FXall, which he said was a perfect fit in Thomson Reuters’s portfolio, had been on his personal agenda for four years. On July 9, Thomson Reuters agreed to acquire full control of FXall, the world’s leading FX multi-dealer platform with non-financial corporates and asset managers, for about $643 million, in an attempt to broaden its brokerage fee-based business beyond the interbank FX market, and in doing so create the FX market’s largest and broadest FX platforms. “These appointments and structure will help us to achieve our goal of enabling the global FICC trading community through our unique insight, trusted communities, deep liquidity for specific customer segments and an integrated platform to enable optimal trading, hedging and post-trade workflow,” said Abel Clark, managing director, Marketplaces, Thomson Reuters. Among the other management changes, John Cooley, who held the position of chief financial officer at FXall, will lead strategy and business development with responsibility for driving strategy and inorganic growth. Meanwhile, Jim Kwiatkowski, FXall’s global head of sales, will run global transactional sales across both FXall and Thomson Reuter’s transaction services to deliver a unified service to merged firm’s customers, the email said. Matt O’Hara, who was global head of business operations at Marketplaces, will join Kwiatkowski’s team to drive the expansion of Thomson Reuters’ FX capabilities into global growth markets.