The shake-up sees the appointment of three new publishing directors and the axing of the marketing director's role. The role of marketing has been handed out to the individual marketing directors.
Caspar de Bono has been made personal finance publishing director, taking responsibility for titles such as Investors Chronicle and FT Expat. De Bono was previously marketing director of FT Business.
Mark Cunningham takes over as retail publishing director for titles such as Money Management and Financial Adviser, and Angus Cushley becomes publishing director for the institutional titles such as The Banker and Pensions Week. Both Cunningham and Cushley previously held the role of publisher at the group.
Pearson, owner of the FT, had put the titles up for sale until it realised that the business is worth more as part of the FT Group than potential bidders were prepared to pay. It is thought the magazines came with a price tag of around £75m.
The publishing director roles are new ones and give the three control over revenue, marketing and editorial development. The three publishing directors have a seat on the FT Business management board.
Last year, the division made operating profits of £4m in the year to December 31, down from £7m in the previous year.
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