Thomson Reuters Analyst Day 2013

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

$TRI Analyst Day Notes

“The ship has turned. We are confident you’ll see a steady, but meaningful improvement in our operating performance going forward.”

“If you’re going to go back to 18 months ago, this is all about focus, and we had to make a choice about where we’re focused. And we — as a team, we sat around and we made a decision to focus our efforts on Eikon in trading. And what I’m about to show you is how we — we’re now moving that to — switching our focus for the buy side…We have pivoted the entire organization to face the buy side…it means is that every developer who used to work for me now works for Philip. All our product managers are focused on Eikon, all of them. Our content guys, and there are a lot of them, too, are focused on content, innovation, content quality, and they’re focused on measuring it with inside Eikon. In short, what we’ve done is, is that the organization for the first time is acting as in one organization. It’s operating at scale, and it’s also solely focused on the buy side.”

“In Investment Management alone, we had 13 — we were going to market with 13 platforms. 13 platforms. As you know, our competitors go to market with 1, maybe 2. 13 platforms, clearly not a recipe for success”

“My name is Philip Brittan, and I am the Global Head of our Desktop Platform. I joined Thomson Reuters a little under 2 years ago. It’s about a month or so before Ralf did. And I was previously at Google, where I was the Global Head of Google Finance. And before that, I was at Bloomberg for a number of years, where I built and ran the foreign exchange business..I was just very excited to come to Thomson Reuters to take on this interesting mission of making Eikon the best financial desktop in the world, and that is absolutely, unequivocally, our mission….with the launch of Eikon 1, we had a product that wasn’t quite ready for our customers yet. So we’ve been very focused over the last 1.5 years or so on getting on track and on driving an innovation agenda and a quality agenda to really put Eikon where it needed to be, and it’s something that’s truly going to delight our customers… Delighting our customers is the absolute core thing that we’re all about, and of course, by doing that, we’re rewarded with being competitive and an ability to take share in this market.”

“banks are not only cutting costs. They’re having to reengineer their internal supply chain…HSBC revealed that they have 27,000 developers, which is more than Microsoft, and they’re asking themselves, why do we need that many? And that’s a big opportunity for us.”

“the one that I’m most proud of is the ECB, the European Central Bank…all central banks in the European Union will be using Eikon.”