The transitions of the past year were designed to set the table for a spin off of F&R in 2018.
Currently looks like Blackstone taking 55% ownership.
Should be interesting to see how that impacts the Toronto office growth.
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FT reported the new owners are looking to cut costs in expensive locations (NYC, London) by offshoring. Thomson Reuters Chief Executive Smith told an investor call that there was room for more cost cuts in the new F&R business.