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.