Thomson Reuters Plans Canadian Expansion

By Judy McKinnon

Thomson Reuters Corp. on Friday said two of its top executives would relocate to Toronto next year as it moves to expand its Canadian operations with a new technology hub in the downtown core of the country's biggest city.

The news and information service said Chief Executive Jim Smith and Chief Financial Officer Stephane Bello will move to the Canadian city from New York in 2017.

The change was announced alongside plans for a new technology hub. The Toronto Technology Centre is expected to create 400 high-quality technology jobs in Canada over the next two years, with plans to grow to approximately 1,500 jobs over time.

"Canada is not only our home, it is home to an emerging ecosystem of world-class technology talent," said Mr. Smith in a release.

Thomson Reuters was formed in 2008 through the merger of Thomson Corp. and Reuters Group PLC. Thomson has a long history in Canada, starting with its first newspaper in the 1930s. In 2003, it sold its remaining 20% stake in the holding company of Canada's Globe and Mail newspaper.

Early Friday, company executives will be joined by Canadian Prime Minister Justin Trudeau and leaders of Ontario and Toronto to officially unveil the technology hub plans.

The new center, which the company said will allow it to draw on local technology talent -- including from the technology hub of Waterloo, Ontario -- will focus on skills such as cognitive computing, user experience and cloud development.

On top of the two key executive moves, Thomson Reuters said additional management roles will relocate to Toronto over the next few years. It didn't elaborate.

Write to Judy McKinnon at judy.mckinnon@wsj.com

(END) Dow Jones Newswires

October 07, 2016 09:03 ET (13:03 GMT)

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