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10th January, 2011 :: 16:13:32
Source: Casinos Online
Highly experienced Thomson Reuters sales exec steps into Richard Glynn's former position
Mark Redwood (50), a highly respected former senior Thomson Reuters executive, has been appointed the non-executive chairman of the Sporting Index group.
Redwood headed up Thomson Reuters' sales & trading activities until stepping down at the end of December, & replaces Richard Glynn who left Sporting Index last year to head up the Ladbrokes group.
Backed by European private equity investor HgCapital, the Sporting Index group has evolved from its origins as a b2c sports spread betting business. Today the group is increasingly active in the b2b arena, supplying in-play betting odds to international betting & gaming operators under its Sporting Solutions brand. Big name bookmakers already signed up to the burgeoning service include William Hill, PartyGaming, the Tote & Skybet.
Warren Murphy, chief executive of the Sporting Index group, said: "We believe the sports betting landscape is rapidly changing & is mirroring the way the financial data services industry has evolved. We deliberately sought to bring in someone with a strong financial technology background.
"From that perspective, Mark coming on board is a real coup for us. His unrivalled expertise in developing & commercialising financial trading data & transactional systems will further strengthen our business as we continue to position the Sporting Index Group at the forefront of the sports betting industry."
Commenting on his appointment, Redwood said: "I can see so many parallels between the financial & regulated sports betting markets. If Betfair is the exchange of the sports betting world, Sporting Index is the market maker & data provider."
Until the end of December 2010 Redwood was president of Sales & Trading at Thomson Reuters, delivering financial information, news, collaboration & transactions services to trading floors across the globe. From 2006 he was CEO of Reuters Transaction Services & also a non-executive director at Tradeweb, the leading over-the-counter, online multi-asset class marketplace.
Core services under Mark's responsibility included Thomson Reuters Eikon, Reuters 3000 Xtra, Matching, Dealing & the Reuters Trading suite. With revenues of $3.8 billion, Sales & Trading is the largest business unit in the Markets Division of Thomson Reuters.
Redwood joined Reuters in December 2002 following its acquisition of AVT Technologies Ltd, a pioneer in foreign exchange transaction technology. Between 2003 & 2006 Mark was responsible for Reuters transactions services. AVT was founded by Redwood in 1989, & as CEO he built a blue-chip customer base that at the time included leading global financial institutions such as ABN AMRO, Bank of New York, Dresdner Kleinwort Wasserstein, JP Morgan & UBS.
He has a First Class Honours Degree in Economics & Accounting from Manchester University, & wide experience in the financial markets, having worked at JP Morgan in London from 1983 to 1989, where he held a number of trading positions in Fixed Income & Exchange Traded Derivatives.
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