Michael Nelson, the executive who oversaw Reuters game-changing transformation from a traditional news agency into a provider of electronic information to the financial markets, died April 30 at the age of 97.
The Baron website writes, “By 1962 – at the age of only 33 – he returned to London as global head of economic services.
“Over the next 20 years, Nelson brought in a succession of computerised and other products for the distribution of financial and economic information.
“Earning great profits, these products shifted Reuters emphasis away from that of an old-style news agency dependant on traditional media and ensured that its share flotation in 1984 was a huge success. This in turn generated the resources for subsequent expansion.
“Before the float, Nelson personally evaluated every technological option and supported selected initiatives, balancing caution and boldness. Reuters had little money to spare, and he couldn’t afford to make an expensive mistake.
“Crucially, he made the right call with the decision to develop the Reuter Monitor, thought up by staffer Fred Taylor and his City foreign exchange contact Geoff Bell.”
Read more here.
