ITG, the agency research broker and financial technology firm, has made several key appointments to its management team, the day after announcing it would be cutting jobs in Europe and the US on the back of low equity trading volumes.
David Stevens is to take on a new role as head of US and Latin America, based in New York.
Stevens was most recently CEO of ITG's Asia Pacific business and previously ran ITG's European operations. In his new role, Stevens will also retain oversight of the Asia Pacific region. Before joining ITG six years ago, he managed European research sales at investment bank J.P. Morgan after starting his career at broker-dealer Goldman Sachs.
Jamie Selway has been named ITG's head of liquidity management, as well as ITG's derivatives business. ITG liquidity management division includes the firm's POSIT crossing network and its smart routing and algorithmic trading units. Selway will continue to offer insight and guidance to ITG's clients on market structure and financial regulatory developments. He was formerly the chief economist at Archipelago, the electronic communication network bought by exchange operator NYSE Euronext in 2006.
Jeff Bacidore is joining ITG as head of algorithms, reporting to Selway. Bacidore previously served as head of algorithmic trading and trading research at Goldman Sachs Asset Management and as director of research at NYSE Euronext.
Furthermore, Ralph Edwards has joined the firm as a derivatives strategist. Edwards has more than three decades of options trading experience, starting on the Chicago Board Options Exchange and continuing at several major Wall Street firms. Edwards most recently launching an options business for agency broker Sanford C. Bernstein.