Richard Malloch joined Hearst in 1991 as deputy group head of Hearst’s Consumer Book Publishing and Trade Magazine Group. In the late 1990's, Hearst sold the consumer book business (William Morrow and Avon Books) to HarperCollins. Malloch looked to re-invest the proceeds from the sale and build a fifth large operating group for Hearst. Traditionally, Hearst’s trade publishing was based on print products with significant revenue generated from advertising. Malloch changed the strategy and business model, moving the Group toward revenue generated from subscriptions and licensing fees. In consideration of this new strategy, the Group was renamed Hearst Business Media. Today, the business is more than 80% based on electronic products with almost no advertising revenue.

Hearst Business Media focuses on the automotive, electronics, financial, health care and pharmaceutical industries. Business Media wants to become indispensable to its customers. It enjoys very high (+ 90%) renewal rates and has gained the confidence of many of its customers as seen by long-term (7-to-10 year) license agreements.

Hearst Business Media has shown substantial growth in the past ten years. Internal growth and product enhancements have been coupled with acquisitions to make Business Media a significant contributor to Hearst’s financial performance. Recent key investment acquisitions include: Fitch Group, in 2006, and Zynx Health, in 2005.

Prior to joining Hearst, Malloch served as a principal in the New York office of Morgan Stanley & Co., where he was involved in corporate finance and merger and acquisitions. Malloch has devoted most of his professional life working with companies in the communications and technology industries. He was actively involved in expanding the Morgan Stanley media franchise to include: cable television, cellular telephone, entertainment and information technologies. Malloch also helped to develop the media practice in Europe and Asia.

Malloch began his career as a member of the policy staff to the assistant secretary of the U.S. Department of Energy in Washington, D.C.