Execution brokerage ITG has swooped for RBC’s head of compliance to lead its global compliance unit.
Thomas ‘Tom’ Shpetner – the former head of compliance at RBC Capital Markets – will become ITG’s global chief compliance officer from the middle of next month.
The hire comes six months after the company agreed to pay the US Securities and Exchange Commission a record $20.3 million in fines for violations in its dark pool trading.
The company has stated that it will put compliance at the forefront of its operations.
In a statement to the media, Frank Troise, chief executive officer and president at ITG, said: “driving a disciplined and rigorous compliance culture is one of our key priorities.”
Shpetner will join the firm on 12 April, and will report to ITG’s managing director and general counsel, Angélique DeSanto.
DeSanto said that she considered Shptner to be “well-regarded”. Shpetner was head of compliance at RBC for almost 5 years from 2011 to this month and has previously worked at Barclays and Goldman Sachs.
In the run up to the financial crisis, Shpetner was a senior vice president in the compliance team at the ill-fated Lehman Brothers until 2008. He spent six years with the bank.
In 2001, has worked at Bloomberg Tradebook as an equities compliance officer.
In January, ITG expanded its operations and trading teams in Asia to meet demand, and hired Paul Warhurst.