Thomson Reuters Launches Governance, Risk and Compliance Business Unit
Thomson Reuters has created a new business dedicated to serving customers across the span of governance, risk and compliance (GRC). The new business brings together Thomson Reuters GRC brands including Complinet, Paisley, Westlaw Business, West’s Capitol Watch, Oden and Westlaw Compliance Advisor. Thomson Reuters former chief strategy officer David Craig, who has been named president, will lead the unit.
The GRC unit delivers to financial institutions, insurance and other firms the most comprehensive suite of tools designed to connect business transactions, strategy and operations to the regulatory environment. It brings together Thomson Reuters global regulatory and securities intelligence; business law research; contract and deal-drafting tools; internal policy management; e-learning; anti-money laundering (AML) solutions; and audit, filing, board of director and disclosure services.
According to Craig, for financial institutions and across other industries, managing risk is seen as essential to innovation and success. “The new unit combines deep industry expertise, access to on-point information and news, technology, services and an industry-leading e-grc platform to help customers combat increasing regulatory risk and manage compliance,” Craig said. “We help banks, hedge funds, insurance firms, general companies and their legal advisers connect strategy, operations and products to the rapidly changing regulatory environment. Our aim is to advance the resources available to the legal, compliance, operations and audit professionals who work together to manage business risk.”