Week in Review, 12/1/2018

Product

IHS Markit announced a new service that administers FIX connectivity for asset managers. The new offering enhances the managed service version of thinkFolio, the order management and portfolio modeling solution from IHS Markit. By managing FIX connectivity on customers’ behalf, IHS Markit helps firms reduce cost and the technical complexity of self-administering a FIX network. 11/27/2018.

China will allow overseas credit information firms to participate in a nationwide credit information monitoring system that the central bank is building, according to the China Daily newspaper, citing a senior central bank official. US credit information servicer Dun & Bradstreet had registered with the central bank in 2017 to be a part of the scheme. 11/25/2018.

Corporate Restructuring

Refinitiv, a financial data and trading company, is planning to cut about 2,000 jobs after its takeover by private-equity firm Blackstone Group LP. The group is looking to strip out $650 million of costs in a bid to reshape and compete better with rival Bloomberg LP amid an increasing demand for data from banks and fund managers. 11/28/2018.

People

Chris Stibbs has stepped down as chief executive of The Economist after five years. The succession process could take between six and 12 months. Stibbs will remain in his role until The Economist Group’s board appoints a successor. Stibbs’ departure follows several high-level exits at The Economist this year, including chief technology officer Michael Brincat, chief financial officer Toby Burton, and group president Paul Rossi. 11/27/2018.

Bob Sauerberg will depart as CEO of Condé Nast, which plans to merge U.S. and international operations and has launched a search for a new chief exec to run the company as a global media entity. Sauerberg will continue as CEO of Condé Nast U.S. until the new global chief executive is on board. He will continue to represent Advance (Condé Nast’s parent company) on the board of Reddit, in which Advance holds a minority stake. 11/27/2018.

Stephen C. Daffron has agreed to join Dun & Bradstreet as President. Mr. Daffron will bring decades of senior leadership experience, operational excellence and a deep knowledge of financial services technology, data and analytics to the Company.