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CIO Profile: Thomson Reuters' Jane Moran on application rationalisation
CIO Profile: Thomson Reuters' Jane Moran on CEO Tom Glocer's legacy
Mergers are difficult processes for all involved. Opportunities are often lost as extra layers of management are piled on top of an already creaking bureaucracy, efficiencies never materialise and the sprawl of technologies increases where it should have decreased.
For CIOs mergers are intense, swallowing time, altering strategies, putting teams under pressure and creating an air of uncertainty. But they can also reinvigorate an organisation and release potential.
Jane Moran, global CIO for Thomson Reuters, led the integration of the Thomson Corporation and Reuters in 2008, and strikes a relaxed figure as the new company continues to exploit the opportunities of the merger.
In 2007 Canada’s Thomson financial, scientific and regulatory information provider agreed to merge with Reuters, London’s famous financial and breaking news agency.
The deal created the largest financial and information services company on the world market, eclipsing Bloomberg, its US rival founded by New York mayor Michael Bloomberg.
Brit Tom Glocer, previously chief executive of Reuters, became CEO of the merged company and will remain so until his imminent retirement in January 2012.
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It was Moran’s second stint as a key component of a merger. Back in 2003 she had been CIO of CCBN, a US webcast provider that Thomson had acquired and was part of that deal team.
Today the merged Thomson Reuters has 55,000 employees in 103 countries and provides news, financial, legal and scientific information to many major markets and companies.
For Moran the Thomson Reuters merger was an opportunity to restructure IT across the newly enlarged company. Prior to the merger Thomson had a series of big divisions in financial, legal and scientific information markets.
“The IT structure was reporting into each division, so there were three CIOs,” she explains. In 2010 I took the decision to leverage the scale of the merger and look at centralising functions.”
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