Forex chief leaves Thomson Reuters

News of his departure followed chief executive James Smith’s announcement on Tuesday of a global restructuring intended to streamline the business. Some 2,000 jobs - four per cent of the 48,000 workforce - are being cut across 150 locations in 39 countries in a simplification process that removes layers of bureaucracy.

Michael Chin, global head of equities, and Neill Penney, head of FX workflow, will jointly lead the trading business. ■