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Cazenove 2004 Media Conference. Transforming Reuters. David Grigson. CFO, Reuters Group PLC. 21 September 2004. Transforming Reuters. Focus on the core Transform the “back office” Simplify and improve the product line Become more service-driven

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cazenove 2004 media conference

Cazenove 2004 Media Conference

Transforming Reuters

David Grigson

CFO, Reuters Group PLC

21 September 2004

transforming reuters
Transforming Reuters
  • Focus on the core
  • Transform the “back office”
  • Simplify and improve the product line
  • Become more service-driven
  • Transform the way we build, deliver and operate
A focused information company

81 units disposed or closed since 2002

Proceeds from H1 ’04 disposals: £426m

Major portfolio holdings:

Instinet, Radianz remain but intent is clear

Factiva remains a core holding

Focus on the core

Remaining major holdings

transform the back office

Transform the “back office”

“Back office” operations completely overhauled:

  • Better information
  • Better tools
  • Stronger governance

Corporate Services Headcount

  • Reduced by 500 since 2001

Corporate Services Costs

  • Cut by more than half since 2001

Sales and Trading

Research and Asset Management

Reuters Knowledge family

Reuters Xtra family

  • Dealing 3000
  • 3000 Xtra
  • Reuters Station
  • Investment Management
  • Corporates
  • Investment Banking

Reuters Wealth Manager family

Reuters Trader family

  • Reuters Trader
  • Reuters Trader domestics
  • Reuters Wealth Manager
  • Reuters Plus


  • Datafeeds
  • RMDS
  • Datascope (EIP)
  • Kondor + (Risk)

Simpler, better product line

launched reuters trader

Launched: Reuters Trader
  • Mid-tier product for sales and trading desks
  • International, domestic versions

Reuters Trader

  • Migration from legacy 2000/3000 products:
    • Majority of European accesses switched by end ’05
  • Positions us to regain market share and build new business
launched reuters wealth manager

Launched: Reuters Wealth Manager
  • Targeted at European private wealth managers, off-trading floor users
  • Superior funds coverage (Lipper)

Reuters Wealth Manager

  • Migration from Reuters Market Monitor (RMM) already underway
    • 2500+ accesses sold (including 1800 at Credit Suisse)
  • Positions us to regain market share and build new business
more service driven

( )

More service-driven

Overall Customer Satisfaction


H1 04


H2 03


H1 03

Customer satisfaction improving

  • Better products
  • Investment in training and support

Strategic alignment with customers

  • Enterprise deals
  • Distribution platform for customers’ content and liquidity
transforming the way we build deliver and operate
Transforming the way we build, deliver and operate
  • Reduce the number of platforms
  • Shut down outdated and bespoke distribution networks
  • Speed up delivery of new products and enhancements
  • Become great at execution
how will we achieve this
How will we achieve this?
  • Value-based decision making
  • Migration to next generation technologies (platform and network)
  • Leverage product development expertise gained through acquisition
what will it mean for reuters
What will it mean for Reuters?
  • The ability to deliver simpler, faster, better service
  • A scaleable product delivery model
  • Positions us for a return to growth
This presentation may be deemed to include forward-looking statements relating to Reuters within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. Certain important factors that could cause actual results to differ materially from those disclosed in such forward-looking statements are described in Reuters Annual Report and Form 20-F 2003 under the heading ‘Risk Factors’. Copies of the Annual Report and Form 20-F 2003 are available on request from Reuters Group PLC, 85 Fleet Street, London EC4P 4AJ.