The potential switch-over to Reuters’ own version of the terminal, called Eikon, comes as Wall Street’s biggest banks are getting deeper into cost-cutting.Ĭitigroup, Goldman Sachs, Bank of America, and Morgan Stanley are all said to be considering deep cuts in their terminal subscriptions, some as much as 25 percent, sources said. “Unseating the incumbent is never an easy thing,” Kevin McPartland, a Greenwich Associates analyst who covers both Bloomberg and Reuters, told The Post.īut, McPartland added, “ put a ton of time and money into the platform.” The New York-based bank is in the midst of negotiating contracts with Thomson Reuters - Bloomberg’s main competitor - to replace at least 1,000 to 2,000 terminals worldwide during the next two years, according to a person directly familiar with the company’s plans. The JPMorgan Chase CEO is preparing to rip out thousands of its $21,000-a-year Bloomberg terminals over the coming two or three years, which may crimp the private financial data company that’s made Mike Bloomberg one of the world’s richest men, The Post has learned exclusively. Jamie Dimon may be pulling the plug on Bloomberg terminals, unless he can get a deal. JPMorgan CEO Dimon: Bank will outlive China's Communist Party Jamie Dimon 'regrets' saying JPMorgan will outlive the Chinese Communist Party
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