David Craig (businessman)
| David Craig (businessman) | |
|---|---|
| File:David profile.jpgDavid profile.jpg David Craig in Refinitiv's office in Canary Wharf, London in October 2019 | |
| Born | October 29, 1969 London, United Kingdom, |
| 🏳️ Nationality | British |
| 🏫 Education | Bristol University |
| 💼 Occupation | CEO of Refinitiv |
David Craig is a technology and data business executive, former CEO of Refinitiv (now part of London Stock Exchange Group) and co-chairs the Taskforce on Nature-related Financial Disclosures[1] - a global initiative to shift global financial flows away from activities harming nature by helping organisations report and act on their nature-related risks.
Biography[edit]
Craig led the creation of Refinitiv in October 2018[2] out of what was then the Financial & Risk business of Thomson Reuters. The deal saw Blackstone take a 55% stake in Refinitiv, while Thomson Reuters retained 45%.
In August 2019, London Stock Exchange Group (LSEG) agreed to buy Refinitiv in an all-share transaction valuing the company at $27 billion[3] . LSEG completed the acquisition in January 2021[4]. Under the terms of the deal, Thomson Reuters continues to provide Refinitiv customers with Reuters news through to 2048.
In May 2021, LSEG announced that Craig would step down as head of its Data & Analytics division, which includes Refinitiv, in July 2021 and would act as senior advisor to the company until the end of that year[5].
Shortly after, Craig was named as Co-Chair of the G7-backed Taskforce on Nature-related Financial Disclosures, reflecting Craig's experience in turning Refinitiv into one of the world's biggest providers of environmental, social and governance data to the financial markets. Chairing the initiative alongside Tanzanian biodiversity leader and lawyer Elizabeth Mrema, the mission of the taskforce is to standardise the way companies disclose their impact on nature, as well as the risk to them from the loss of nature and biodiversity. Its work complements the framework currently being created by the Task Force on Climate-related Financial Disclosures, and has the backing of financial institutions including AXA, Credit Suisse, Wells Fargo, BNP Paribas, PIMCO, ING, M&G and Allianz.
Craig also co-chairs the India UK Financial Partnership (IUKFP) with Uday Kotak on behalf of TheCityUK and the HM Treasury, and is a member of the Trade Advisory Group for the UK Department for International Trade on financial services and cross-border data flows and regulation.
Craig is on the Banking Governors Board of the WEF and has contributed to several industry research papers on technology-driven innovation in financial services. In January 2020, Craig published work predicting a "carbon correction" to global financial markets equating to as much as $4 trillion.
In January 2021, Craig told a panel debate[6] at the World Economic Forum's Davos Agenda that business leaders needed to think more deeply about a wider spectrum of risks following the COVID-19 pandemic, from large solar storms similar to the 1859 Carrington Event to the global impact of a volcanic eruption on the scale of the 1883 eruption of Krakatoa.
Since November 2020 Craig has become a permanent member of the [7] (Sustainable Markets Initiative) co-chaired by HRH Prince Charles and Bank of America CEO Brian Moynihan, launched in Davos in 2020.
Craig has been ranked by Institutional Investor as number 7 in the top 50 fintech leaders[8]
Craig is a Charity Board Trustee of Great Ormond Street Hospital Charity in London, as well as Founding Ambassador and Chair of the Corporate Advisory Board of Urban Synergy.[9], which was formed[10] with Goldman Sachs DMGT EC1 and UK Power Networks and other sponsors to support young people from schools across London access mentorship and work opportunities.
Craig joined Reuters in April 2007 as Chief Strategy Officer. At Thomson Reuters, Craig founded the Governance Risk and Compliance (GRC) business including the acquisition of World-Check[11] and was then President of the Financial and Risk Division. Craig was formerly a consultant at McKinsey & Company and a systems developer at American Management Systems
Craig holds a degree in electrical engineering from The University of Bristol.
Publications[edit]
- The Carbon Correction - January 2020[12]
- The new Physics of Financial Services - August 2018 - World Economic Forum[13]
- The Next Evolution in Financial Services - September 2020 - World Economic Forum[14]
- Technology and Big Data - November 2016 - Financial Times[15]
References[edit]
- ↑ Waterford, Geoff Summerhayes and Laura (2021-07-03). "Biodiversity loss is a risk to the global financial system | Geoff Summerhayes and Laura Waterford". the Guardian. Retrieved 2021-08-24.
- ↑ "Thomson Reuters closes deal with Blackstone". NASDAQ.com. 2018-10-01. Retrieved 2018-10-18.
- ↑ "London Stock Exchange clinches acquisition of Refinitiv for $27bn". Financial Times.
- ↑ Jones, Huw. "LSE looks at 'blank cheque' deals to keep London ahead after Brexit". Reuters. Reuters. Retrieved 29 January 2021.
- ↑ "Refinitiv boss Craig to leave parent LSEG at end of year". Reuters. 2021-05-26. Retrieved 2021-08-24.
- ↑ Faulconbridge, Guy. "Brace for the unexpected after COVID-19, Refinitiv CEO Craig says". Reuters. Reuters. Retrieved 26 January 2021.
- ↑ "Sustainable Markets Initiative". Sustainable Markets Initiative.
- ↑ "Baron - Fintech Leader". 28 July 2018.
- ↑ Thomas, Leila. "CEO". Urban Synergy. Urban Synergy. Retrieved 23 January 2021.
- ↑ "Goldman, Citi, Morgan Stanley join project to bolster Black ranks in the City"". Financial News.
- ↑ "Thomson Reuters Acquires World-Check" (16 May 2011). 16 May 2011.
- ↑ "The Carbon Correction". Refinitiv. Refinitiv.
- ↑ "The New Physics of Financial Services". 15 August 2020.
- ↑ "The Next Evolution in Financial Services". 1 September 2020.
- ↑ "Fintech and Big Data".
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