By Jennifer Saba
NEW YORK (Reuters) - Bloomberg LP appointed former IBM Chairman and CEO Samuel Palmisano as an independent adviser on security and data issues, as the company seeks to address customers' concerns about possible breaches in the confidentiality of their usage data.
The news and financial data company said on Friday that Palmisano will report to its board of directors and he will immediately undertake a review of current policies for client data and end-user information.
Bloomberg said last week that its reporters had limited access to some data considered proprietary, including when a customer logs in or looks for information on assets such as equities or bonds. Bloomberg News Editor-in-Chief Matthew Winkler apologized after a major client, Goldman Sachs Group
Since then, other Bloomberg clients, including JPMorgan Chase & Co
The appointment of Palmisano comes after Bloomberg named a chief data compliance officer last week.
"We want to go even further and get the benefit of independent leading experts so that we set the new standard for privacy and data security," Daniel Doctoroff, Bloomberg's CEO and president, said in a statement.
Palmisano was IBM's
Bloomberg said its board has also hired the law firm Hogan Lovells and the financial services consulting firm Promontory Financial Group to help Palmisano implement any recommendations.
The company also asked Clark Hoyt, editor-at-large at Bloomberg News, to conduct a review of the newsroom's relationship with the sales organization. Hoyt, who served as the New York Times's
Privately held Bloomberg, which competes with Thomson Reuters Corp
(Reporting by Jennifer Saba; Editing by Leslie Gevirtz)