(Bloomberg) -- The head of ION Corporates, one of the main units of ION Group, has left the company, the latest in a series of high-profile executive changes at the helm of the financial data provider.
Rich Grossi has been replaced as chief executive officer of the corporates business unit by Sunil Biswas, who was previously chief product officer for commodities, according to a person with knowledge of the matter, who asked not to be identified because they aren’t authorized to speak publicly.
Grossi didn’t respond to messages left on his LinkedIn account.
His departure is the latest management overhaul at the group founded by tycoon Andrea Pignataro, who built up the company through a series of acquisitions that created an empire worth an estimated €25 billion ($27 billion). The former bond trader is now focusing on growing the group’s data and artificial intelligence offerings.
Grossi has been CEO of the corporate unit, which offers treasury and commodity management services to companies, for more than four years, according to his LinkedIn profile. He was previously CEO at risk management solutions provider Openlink Financial, which was bought by ION in 2018 and subsequently integrated into its product offering.
The head of the ION Analytics unit Jody Drulard left last month — with a new CEO set to be appointed in the coming weeks — while the top executive of Italy-based Cerved, Andrea Mignanelli, was replaced earlier this year.
ION’s businesses also include financial services firms Dealogic, Fidessa Trading and Acuris, the owner of financial news platform Mergermarket. Bloomberg LP, the parent company of Bloomberg News, competes with ION Group in providing financial software and data.
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