Former PThomson Reuters Senior Executive brings expertise in product and business development
TransRisk LLC announced that Eric Frank has joined the company’s Board of Advisors. Prior to launching his own advisory practice, Frank was President of Thomson Reuters’ Investment & Advisory (I&A) Division. Selected by the CEO to lead the post-merger integration of Thomson Financial and Reuters Research and Asset Management, Frank shaped a $2.3 billion division into four global operating units. He has invented, built and sold companies, led teams with over 8,000 employees and contractors and guided multi-billion dollar businesses. Frank is frequently sought by investors and financial sponsors for his expertise and partnership on deals and portfolio companies across the information industry landscape.
“We founded TransRisk to provide risk-management solutions for trucking in the form of tradable instruments, but customers saw our mission as much broader. They wanted better real-time data and insights into what is happening in the market,” said Craig Fuller, TransRisk CEO. “Eric has been a part of building a number of world-class data businesses, and has been active in developing solutions that deliver both financial market and industry insights. As we scale our business in and beyond the trucking industry, Eric’s guidance will be a tremendous help.”
TransRisk is building tools that provide price discovery, transparency and demand balance for capacity. In addition, TransRisk seeks to offer financial instruments that allow participants to hedge against market volatility in the physical market. The financially settled contracts, which will feature no physical delivery or service, are meant to be a risk-management tool that participants can use to normalize price fluctuations.
“I am excited to work with Craig and the TransRisk team to develop solutions for trucking and related parties to the industry,” said Frank. “There is a tremendous opportunity to leverage data and analytical tools to provide better decisioning solutions. With the explosive growth of new digital data sets every industry will need partners like TransRisk to do the heavy lifting to make the data relevant, accessible and useful to the industry. Craig and his team have the experience to deliver on their vision.”