Bloomberg set to start industry research unit

Bloomberg L.P. plans to announce that it has hired more than 100 research professionals for a global industry research service, reports Andrew Edgecliffe-Johnson of the Financial Times.

Edgecliffe-Johnson writes, “The Bloomberg Industries service will combine interactive, real-time data on more than 100 industry sectors in North America, Europe and Asia with analysis from a team including 30 former senior analysts in buyside and sell-side firms.

“The ‘significant’ investment marks Bloomberg’s latest attempt to expand its customer base beyond its traditional stronghold in trading rooms, said David Dwyer, a former JPMorgan and Citigroup analyst who has built Bloomberg Industries over three years.

“Provided to more than 310,000 subscribers to Bloomberg’s terminals, the service combines data and news with analysis brought in from more than 200 sources to highlight valuations, market share information and industry-moving trends.

“However, it will not offer ratings, earnings estimates, target prices or ‘buy’ and ‘sell’ recommendations. ‘We already have a product that aggregates ratings, targets and estimates for all sell-side analysts. We would rather market our consensus estimates,’ Mr Dwyer said.”

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