NEW YORK, Oct. 18, 2016 /PRNewswire/ -- Money.Net announced that veteran editor Norman Pearlstine will join the innovative market information platform as its Chief Information Architect.
In that position Pearlstine will lead the build-out of a next-generation financial news product employing sophisticated machine learning, other forms of artificial intelligence, smart developers, analysts and editors.
Pearlstine will also join the Money.Net management committee while remaining Vice Chairman of Time Inc., a non-executive position he assumed in July.
Money.Net is a leading-edge market and financial information firm designed to disrupt an industry with annual revenues of $26 billion that, until now, has been dominated by legacy firms such as Bloomberg and Thomson Reuters. "It's been more than thirty years since Michael Bloomberg first delivered financial data and information through a dedicated computer," says Money.Net CEO Morgan Downey. "We believe the market is ready to embrace our intuitive, accessible, and affordable alternative."
The Money.Net system covers four asset classes – equities, foreign exchange, commodities, and fixed income – providing its customers with the data and information they need to succeed. "Our goal is to be ubiquitous, removing barriers to accessing financial information," Downey says.
Since Downey, a former Bloomberg executive and commodity trader, joined Money.net in 2014, the firm has moved quickly to provide real time and historical market prices, reference fundamentals, including economic data, financial statements, coverage of supply and demand trends, as well as breaking news. Money.net content can be delivered through an application for desktop, through a web browser, as a Microsoft Excel spreadsheet add-in, through Matlab software for quantitative analysts, or through a mobile device.
Money.Net's thousands of customers include traders, sales people, financial engineers, data scientists, financial analysts, quants, strategists, risk managers, students, academic researchers. and investment bankers at some of the largest banks in the world, major hedge funds, asset management firms, business schools and corporate treasuries.
A core part of the Money.Net product is news – and in particular fast breaking headlines. Money.Net has already built and put into production a first generation news product built using algorithms, supported by data analysis, visualization, numerical and text computation. Its proprietary software analyzes and processes large amounts of data, including market-moving information, content from traditional and social media. By employing ultra low latency technologies, Money.Net produces a real time news feed with relevant market moving information to its customers – often ahead of legacy data terminals.
ABOUT NORMAN PEARLSTINE
In his role as Chief Information Architect, Pearlstine has been charged with assembling a team of talented developers and journalists, who working together will provide subscribers with products using machine learning and other forms of "AI" to move beyond algorithmic filters and tags.
In order to see this product evolve, one must simply be a regular monthly subscription customer of Money.Net and obtain a standard Money.Net login.
During Pearlstine's lengthy journalistic career, he has been the top news editor at The Wall Street Journal and at Time Inc., -- publisher of TIME, FORTUNE, MONEY and scores of other titles. He also served as an Executive Editor at Forbes, as a founder of SmartMoney, as Bloomberg L.P.'s Chief Content Officer and as The Carlyle Group's Senior Advisor for Telecom and Media. While at the Journal, he held senior positions in the U.S. and abroad, including stints in Tokyo, Hong Kong, and Brussels.
"Norm Pearlstine is one of the world's most revered, smart, experienced and connected journalists," says Downey. "I have known and strongly admired Norm for many years and I highly value his opinion, advice and deep knowledge of our industry. We are delighted Norm agreed to join Money.Net and know that our current and potential customers will value a compelling news product, the likes of which has never been seen before."
"I have seen many new products over the years that promised to serve financial professionals and individual investors with better information at lower cost. Money.net is the first product that delivers on that promise," Pearlstine said. "This is an exciting time to be a key part of the build out of the next generation of newsroom. With great technology and a clearly defined market opportunity, Morgan and I will be working closely to deliver the best possible products to our Money.Net customers."
Money.Net is a suite of applications people used to interact with financial information in their jobs or for research every day to increase productivity and make money. Banks, hedge funds, asset managers, business school students and academics in 57 countries use Money.Net. Money.Net is the New York based, modern, affordable, new replacement for clunky old legacy systems. The Money.Net desktop application, Excel add in, MATLAB integration and mobile apps provide multi asset class (equities, commodities, FX, fixed income) global coverage. Money.Net provides real time and historical market price data, reference data (financials, economic data, supply and demand fundamentals), breaking real time news, voice squawk, severe weather and earthquake visualization on maps, and much more all for 1/15th the cost of a legacy terminal. For more information, visit www.money.net
Norman Pearlstine is an American editor and the Vice Chairman of Time Inc. Pearlstine became Vice Chairman of Time Inc. in July 2016. In this role, Norm collaborates with the Time Inc. International team and Chief Financial Officer to identify international growth opportunities for the company's brands and content. He also supports and consults with the Time Inc. executive team on specific projects.
Until recently, Norm served as Executive Vice President and Chief Content Officer, a position he held since returning to Time Inc. in 2013. Norm rejoined Time Inc. after a five-year stint at Bloomberg L.P., where as Chief Content Officer, he developed growth opportunities for Bloomberg's television, radio, magazine, and online products to make the most of the company's news operations.
Prior to joining Bloomberg, Norm was a Senior Advisor to The Carlyle Group's telecommunications and media group in New York. Previously, he spent nearly four decades working as a reporter and editor, including a decade as Time Inc.'s Editor-in-Chief.
Norm worked for The Wall Street Journal from 1968 to 1992, except for a two-year period, 1978-1980, when he was an executive editor of Forbes magazine. At the Journal, he served as a staff reporter in Dallas, Detroit and Los Angeles; Tokyo bureau chief; founding managing editor of The Asian Wall Street Journal; national editor; founding editor and publisher of The Wall Street Journal/Europe; managing editor; and, ultimately, executive editor.
After leaving the Journal in 1992, Norm spent a year launching Smart Money magazine for the Journal's parent, Dow Jones & Company, and for the Hearst. He then spent a year as a general partner of Friday Holdings L.P., a multimedia investment company.
Norm has received numerous honors over the course of his journalism career. In January 2005, the American Society of Magazine Editors named Pearlstine the recipient of its Lifetime Achievement Award and inducted him into the Magazine Editors' Hall of Fame. He was honored with the Loeb Lifetime Achievement Award for Distinguished Business and Financial Journalism in 2000. He received the National Press Foundation's Editor of the Year Award in 1989.
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