Merrill Lynch wealth managers ditch Thomson Reuters for Factset

Blow to Blackstone after it acquired data business

Wealth managers at Merrill Lynch are switching to Factset and ditching rival financial information provider Thomson Reuters, an early blow to the business after it was acquired by Blackstone in a $17.3bn deal.

Factset will later this year begin replacing Thomson Reuters as the primary market data provider for Merrill Lynch Wealth Management’s 15,000 advisers with its web-based platform, according to a statement on Monday.

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