The Professional Division also encompasses the company's largest revenue source, the Legal business, along with the Intellectual Property & Science unit. The Markets division, which was reorganized this year after unhappiness with its performance, has products for financial services companies and investment and advisory businesses. Bloomberg is one of the unit's major competitors.
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Thomson to Drop Divisions
Thomson Reuters says it plans to disband its divisional structure and transition to what it termed "a set of focused business units." It will make that change in 2012 and eliminate its Markets and Professional divisions. The company's Tax & Accounting business falls under the Professional Division.
That came as the company announced management changes. The company said James C. Smith, CEO of the Professional division, had been named chief operating officer of the company. It also said that Robert Daleo, who had been CFO since 1998, would retire in July 2012 when he turns 63 years old. Stephane Bello will succeed him on January and Daleo will serve as vice chairman until his retirement.
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