Thomson
Reuters Further Strengthens KYC Managed Services and Legal Entity
Data Through Clarient and Avox Acquisitions
Acquisitions demonstrate Thomson
Reuters continued commitment to solving critical industry client
reference data and on-boarding challenges.
NEW YORK, LONDON and SINGAPORE, Feb.
6, 2017 -- Thomson Reuters has signed definitive
agreements to acquire Clarient Global LLC and Avox Limited.
Clarient is a leading global Know Your Customer ("KYC") and client
reference data platform owned and used by the Depository Trust
& Clearing Corporation ("DTCC"), Barclays, Credit Suisse,
Goldman Sachs, J.P. Morgan, BNY Mellon, and State Street, among
others. Avox is a leading supplier of legal entity data,
hierarchies and identifiers on financial entities globally, owned
by the DTCC.
Logo -
http://photos.prnewswire.com/prnh/20130208/MM57185LOGO
The Clarient and Avox acquisitions represent another step
forward by Thomson Reuters, who brought the first KYC managed
service to market three years ago (Org ID) and today serves 23
leading financial institutions worldwide with over 200,000 KYC
records published to date, consistently on-boarding or refreshing
over 2,000 clients per month and helping customers accelerate
client on-boarding, comply with regulation, reduce costs and
improve client experience. These businesses will be integrated into
Thomson Reuters portfolio of risk management, compliance and
reference data offerings.
"We are excited to sign these acquisitions, bringing with them
significant continued commitment of a wide range of customers
including the founder banks of Clarient," said Steve Pulley, Managing Director, Risk Managed
Services, Thomson Reuters. "The selection of Thomson Reuters by the
founder banks and DTCC as the firm to lead the next wave of
development in this exciting space reflects the progress we have
made in our legal entity and KYC managed service franchise over the
past three years, including the successful launch of the
industry-first regional KYC service last year in Africa."
Matt Stauffer, CEO, Clarient
said: "Clarient and Avox have made a significant impact addressing
the industry's client reference data and lifecycle management
requirements, reducing both cost and risk for our clients. We are
proud of their successes and are confident that by integrating
these businesses into Thomson Reuters already strong portfolio of
risk management, compliance and reference data offerings, they will
form a holistic solution that supports and accelerates the
industry's desire to mutualize client data solutions."
Julie Harris, Managing Director
at Goldman Sachs said: "As founder banks, we have invested
significant time and expertise in developing the Clarient platform
to meet the stringent requirements of our industry and the
customers we serve. We are excited to partner with Thomson Reuters
and work with them to deliver on the vision of centralized KYC as a
driver of increased efficiency, robust compliance and improved
experience for our customers."
James Hardy, Chief Data Officer
at State Street said: "KYC is a key foundational component to
creating a client reference data industry solution that will have
positive impact for customer onboarding and management. Clarient
and Thomson Reuters are well positioned to further this
strategy."
Colin Hall, Group Chief Data
Officer at Credit Suisse said: "Combining the services and vision
of Clarient and Thomson Reuters will provide an enhanced and more
effective client experience, supporting critical processes
throughout the onboarding process in times of continuous global
regulatory change. We will continue to partner with Thomson Reuters
to drive further efficiencies for the industry and are excited for
the benefits this will provide."
Clarient Global LLC is a DTCC company founded with Barclays, BNY
Mellon, Credit Suisse, Goldman Sachs, J.P. Morgan and State Street.
Clarient Entity Hub acts as a central hub for investment managers,
hedge funds, and corporations to upload, securely store, maintain
and permission use of legal entity level information, documentation
and ownership information. It integrates technology and operational
expertise to provide increased controls, standardization, data
quality and transparency during client on-boarding and ongoing
client lifecycle activities. Clarient was established in response
to the industry's call to reduce operational complexity and to
address regulatory requirements including Know Your Customer (KYC),
Foreign Account Tax Compliance Act (FATCA), European Market
Infrastructure Regulation (EMIR), and Dodd-Frank requirements. For
more information, visit http://www.clarientglobal.com/.
Avox Limited, a subsidiary of The Depository Trust &
Clearing Corporation (DTCC), is a UK-based leading supplier of
legal entity data on financial entities globally, that matches,
enriches and maintains legal entity reference data for its clients,
delivering corporate hierarchies, registered address information,
industry sector codes and company identifiers. This approach
ensures that clients can rely on the most accurate and timely data
available to facilitate decision making and regulatory reporting.
For more information, visit
http://www.dtcc.com/data-services/entity-data-management/avox-data-services
The acquisitions of Clarient and Avox are expected to close by
the end of Q1 subject to customary closing conditions.
Thomson Reuters
Thomson Reuters is the world's leading source of news and
information for professional markets. Our customers rely on us to
deliver the intelligence, technology and expertise they need to
find trusted answers. The business has operated in more than 100
countries for more than 100 years. Thomson Reuters shares are
listed on the Toronto and New York
Stock Exchanges (symbol: TRI). For more information, visit
http://www.thomsonreuters.com/.
CONTACTS |
|
Lemuel Brewster
Global Senior PR Director, Financial & Risk
Office +1 646-223-5147
Mobile +1 917-805-1089
lemuel.brewster@thomsonreuters.com |
Mark D. Harrop
PR Manager, Financial & Risk
Office +1 646-223-7803
Mobile +1 347-803-5575
mark.harrop@thomsonreuters.com |
|
|
Brian Mairs
Global Head of External Communications
Financial & Risk
Office +44 20 7542 7866
Mobile +4407799 477998
brian.mairs@thomsonreuters.com |
|
SOURCE Thomson Reuters