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article imageThomson Reuters CEO to head up new technology center in Toronto

By Karen Graham     Oct 8, 2016 in Business
Toronto - Multinational media giant Thomson Reuters Corporation announced on Friday it would be opening a new technology center in downtown Toronto, Canada in 2017, relocating two of its top executives.
Chief Executive Officer Jim Smith and Chief Financial Officer Stephane Bello who are currently working in the company's office in Stamford, Connecticut will be moving to the Canadian city in 2017, according to Reuters.
There will be additional management roles relocated and recruited locally for the new Technology center. This move will eventually add 400 employees over the next couple years to the 1,200 employees already in Reuters' Canadian workforce.
Thomson Reuters said there are plans to eventually add 1,500 at the center over an unspecified period of time, according to the Financial Post.
The big news was announced on Friday at the launch of Thomson Reuters’ new technology center by Thomson Reuters CEO Jim Smith, with Prime Minister Justin Trudeau, Ontario Premier Kathleen Wynne and Toronto Mayor John Tory in attendance.
Thomson Reuters was created when the Canadian chain of national newspapers bought London-based Reuters Group Plc in 2008, expanding the operation into an internationally known and respected information services provider in the financial, legal and professional sectors.
The company does business in over 100 countries and employs more than 50,000 people. In 2015, Thomson Reuters made a US$2.1 billion profit on US$12.2 billion in revenues. In a memo to employees, CEO Smith said the commitment of the company to centers in New York, London, and Hong Kong "has never been stronger" and the Toronto expansion was in part an opportunity to "take a technology leadership position in the region."
More about technology center, Toronto, 400 employees, parent of Reuter News, Thomson reuters
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