SELL SIDE

KCG’s European operating chief departs

Nell Axelrod joined KCG in 2015 and has worked at Morgan Stanley and JP Morgan.

By Hayley McDowell hayley.mcdowell@strategic-i.com May 19, 2017 1:50 PM GMT

The European chief operating officer at KCG has departed after two years in the role, a spokesperson has confirmed.

Nell Axelrod - who joined KCG in 2015 and replaced Phil Gough - left late last year to pursue other opportunities.

Axelrod has held several senior positions at institutions such as Morgan Stanley, where she was an executive director of the electronic trading business, and at JP Morgan within the transition management group.

At KCG she established a business management function for the European office and led communications and data cost reductions, which resulted in multi-million dollar savings.

Earlier this year KCG decided to accept a $1.4 billion acquisition offer from Virtu Financial.

“The combination of Virtu and KCG will create a true industry leader with greater diversification and scale,” KCG said at the time of the announcement.  

The deal will see Virtu extend its operating model to KCG’s wholesale market making businesses and expand the distribution of its technology and execution services to KCG’s institutional client base.