KCG confirm global head of FICC’s departure

Market maker confirms its global head of FICC, Isaac Chang, has left the company.

Isaac Chang, who has been KCG’s global head of fixed income, currency and commodities (FICC) trading since August 2011, has left the business, according to reports circulating this week.

The news was confirmed by a spokesperson at KCG, although it is not known which company Chang will be joining.

He has worked at a number of major investment banks throughout his career, including Goldman Sachs and Credit Suisse.

Chang was an analyst at BlackRock before he joined Goldman Sachs in 1999 to head up its US interest rates products electronic trading.

He has been with KCG for almost five years, and initially joined its predecessor company, Getco.

Getco merged with brokerage Knight Capital Group in 2012 to form KCG.

KCG Europe recently launched its Catch algorithm as it strives to expand its institutional client base.

The liquidity-seeking algorithm has already been available in the US market and KCG said it has proven popular with clients there.