Mark Carney, the former governor of the Bank of England, will be joining Bloomberg as the head of its climate finance initiatives. In his new role, Carney will bring his expertise in mitigating risks to financial institutions. Michael Bloomberg, the company’s founder, praised Carney’s work and stated that he will be supported by a team of the best and brightest.
Bloomberg has also announced the promotion of Vlad Kliatchko to the position of chief executive. Kliatchko, who has been with the company for 20 years, holds a background in mathematics and computer science from St Petersburg University.
In addition, JP Zammitt, the current chief operating officer, will take on the role of president as part of the company’s reshuffle.
Bloomberg emphasized the need for change, stating in a memo seen by the Telegraph, “Doing the same thing with the same people in the same way doesn’t work forever.”
Founded by Michael Bloomberg in 1981, Bloomberg has established itself as a leading provider of financial data. Its flagship product, the Bloomberg Terminal, offers investors access to a wide range of financial market information, including interest rate bets, bond prices, and news.
The company generates an impressive $12 billion (£9.5 billion) in annual revenues, primarily from its terminals, which cost $24,000 a year.
Although Bloomberg has previously stepped away from the company during his tenure as Mayor of New York, he remains the majority owner. His net worth is estimated to be over $90 billion. Bloomberg made an unsuccessful bid for the US presidency in 2020 and subsequently endorsed Joe Biden.
Bloomberg has chosen not to provide any further comment at this time.
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