Independent execution broker ITG have announced the appointment
of Francis Troise as new CEO and President.
Mr Troise will leave his current role as head of execution
services at J.P Morgan to take up the role in January 2016.
Chair of the ITG Board of Directors Maureen O’Hara commented
on the new appointment.
“After a thorough and careful search process, the Board
chose Frank as the right candidate to lead ITG at this pivotal time.”
“Frank is a well-known industry expert with an impressive
track record of growing electronic trading operations, establishing strong
relationships and building talented teams.”
The appointment comes after former CEO Bob Gasser stepped
down from the position in the wake of ITG’s involvement in a dark pool rule
violation scandal during 2010-11.
ITG has now settled the matter with the US Securities and
Exchange Commission and paid a fine in excess of $20 million.
Prior to his current position at JP Morgan, Mr Troise served
as head of trading at Barclays Capital and head of US electronic execution at
Lehman Brothers. He also spent eight years at ITG in a number of roles
including as a managing director.
“I am thrilled to be returning to ITG, a firm which I know
first-hand is relentlessly focused on providing world-class customer services
and best execution.” Mr Troise added.