KCG ADDS FOUR NEW
INDEPENDENT DIRECTORS TO BOARD
NEW YORK, N.Y. - January 19, 2017
- KCG Holdings, Inc. (NYSE: KCG) announced today that its Board
of Directors has appointed Peter Fisher, Colin Smith, Heather
Tookes and Adrian Weller as Directors, effective immediately. KCG
also announced that Rene M. Kern and John C. (Hans) Morris have
informed the company that they will not be seeking reelection at
the 2017 Annual Meeting of Stockholders.
"We are pleased to welcome these highly-qualified
and experienced professionals to our Board and look forward to
leveraging their relevant expertise and counsel as we continue to
execute on our business objectives," said Charles E. Haldeman, Jr.,
Non-Executive Chairman of KCG's Board of Directors. "Collectively,
Peter, Colin, Heather and Adrian bring significant expertise in
finance, trading and regulation to KCG that will benefit the
company as we continue to grow and innovate in today's evolving
global markets."
The newly appointed Directors provide the KCG
Board with unique insights and differentiated backgrounds:
-
Mr. Fisher brings significant foreign markets
and domestic finance experience to KCG, having served as Head of
Fixed Income at BlackRock, Under Secretary of the U.S. Treasury for
Domestic Finance, and EVP of the Federal Reserve Bank of New York,
where he was responsible for the conduct of domestic monetary and
foreign currency operations.
-
Mr. Smith is an accomplished investor with more
than two decades of alternative asset management and event-driven
trading experience.
-
A highly-respected faculty member of the Yale
School of Management, Professor Tookes has extensive knowledge of
the financial services industry and deep expertise in market
microstructure and corporate finance.
-
Dr. Weller, a Senior Research Fellow at the
University of Cambridge, is a leading authority on artificial
intelligence and its commercial applications. He has extensive
experience in trading and investing, having served in senior roles
at Goldman Sachs, Salomon Brothers and Citadel.
Mr. Haldeman added, "On behalf of KCG and the
entire Board, I want to thank Hans and Rene for their dedication
and wealth of contributions to KCG throughout their tenures. We
wish them continued success in their future endeavors."
With today's announcement, it is currently
expected that 11 Directors will be nominated for election at KCG's
2017 Annual Meeting of Stockholders, 10 of whom would be
independent.
About Peter Fisher
Peter R. Fisher is Senior Fellow and Senior Lecturer at the Center
for Business, Government & Society at the Tuck School of
Business at Dartmouth College. Previously, from 2004 to 2013, Mr.
Fisher worked at BlackRock, serving most recently as head, and
before that co-head, of its Fixed Income Portfolio Management
Group. From 2005 to 2007, he served as Chairman of BlackRock
Asia.
Prior to BlackRock, Mr. Fisher worked as Under Secretary of the
U.S. Treasury for Domestic Finance. From 1985 to 2001, he worked at
the Federal Reserve Bank of New York, where he served as an EVP of
the Bank and Manager of the System Open Market Account, from 1995
to 2001. In those roles, he was responsible for the conduct of
domestic monetary and foreign currency operations, and for the
management of the foreign currency reserves of both the Federal
Reserve and the Treasury.
Mr. Fisher currently serves as a Director at AIG,
Inc., the John F. Kennedy Library Foundation and the Peterson
Institute for International Economics, and is on the Investment
Advisory Committee of Google as well as the Advisory Committee on
Systemic Resolution of the Federal Deposit Insurance Corporation.
Previously, he was a part-time Senior Director of the BlackRock
Investment, a member of the Strategic Advisory Committee of the
Agence France Tresor and a non-executive director of the Financial
Services Authority of the United Kingdom.
He received a JD degree from Harvard Law School
and a BA in history from Harvard College.
About Colin Smith
Colin Smith is Managing Partner of Silver Mountain Partners, a
private investment partnership that he has managed since 2012,
focused on investments in alternative strategies including private
equity and real estate.
From 2010 to 2012, Mr. Smith served as Chief
Executive Officer of Concordance Capital Management, an
event-driven asset management firm. Prior to that, he was the
Managing Partner, Chief Executive Officer and Chief Investment
Officer for Deephaven Capital Management, a global multi-strategy
alternative asset manager, which he joined in 1998. Earlier in his
career, he held positions at Peter Schoenfeld Asset Management,
Schroder Wertheim and Continental Partners.
Mr. Smith holds a BA from Northwestern
University.
About Heather
Tookes
Heather Tookes is a member of the finance faculty of the Yale
School of Management. Since 2004, she has taught Corporate Finance
for the full-time MBA and the MBA for Executives programs, and has
received teaching awards in both programs.
Professor Tookes also serves as Associate Editor
at the Review of Financial Studies and Management Science. She is
the author of several journal articles focused on issues in both
market microstructure and corporate finance.
She received a PhD in finance from Cornell and a
BA in economics from Brown University.
About Adrian Weller
Adrian Weller is a Senior Research Fellow in the Machine Learning
Group at the University of Cambridge, a Faculty Fellow at the Alan
Turing Institute for data science and an Executive Fellow at the
Leverhulme Centre for the Future of Intelligence. He is a leading
authority on artificial intelligence, its commercial applications
and how it may be used to benefit society.
Previously, Dr. Weller held senior roles in fixed
income at Goldman Sachs, Salomon Brothers and Citadel.
He received a PhD in computer science from
Columbia University, and BA and MA degrees in mathematics from
Trinity College, Cambridge.
About KCG
KCG is a leading independent securities firm offering investors a
range of services designed to address trading needs across asset
classes, product types and time zones. The firm combines advanced
technology with specialized client service across market making,
agency execution and venues and also engages in principal trading
via exchange-based market making. KCG has multiple access points to
trade global equities, fixed income, options, currencies and
commodities via voice or automated execution. www.kcg.com
Certain statements
contained herein and the documents incorporated by reference
containing the words "believes," "intends," "expects,"
"anticipates," and words of similar meaning, may constitute
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. These "forward-looking statements"
are not historical facts and are based on current expectations,
estimates and projections about KCG's industry, management's
beliefs and certain assumptions made by management, many of which,
by their nature, are inherently uncertain and beyond our control.
Any forward-looking statement contained herein speaks only as of
the date on which it is made. Accordingly, readers are cautioned
that any such forward-looking statements are not guarantees of
future performance and are subject to certain risks, uncertainties
and assumptions that are difficult to predict including, without
limitation, risks associated with: (i) the inability to manage
trading strategy performance and grow revenue and earnings; (ii)
the receipt of additional payments from the sale of KCG Hotspot
that are subject to certain contingencies; (iii) changes in market
structure, legislative, regulatory or financial reporting rules,
including the increased focus by Congress, federal and state
regulators, the SROs and the media on market structure issues, and
in particular, the scrutiny of high frequency trading, alternative
trading systems, market fragmentation, colocation, access to market
data feeds, and remuneration arrangements such as payment for order
flow and exchange fee structures; (iv) past or future changes to
KCG's organizational structure and management; (v) KCG's ability to
develop competitive new products and services in a timely manner
and the acceptance of such products and services by KCG's customers
and potential customers; (vi) KCG's ability to keep up with
technological changes; (vii) KCG's ability to effectively identify
and manage market risk, operational and technology risk,
cybersecurity risk, legal risk, liquidity risk, reputational risk,
counterparty and credit risk, international risk, regulatory risk,
and compliance risk; (viii) the cost and other effects of material
contingencies, including litigation contingencies, and any adverse
judicial, administrative or arbitral rulings or proceedings; (ix)
the effects of increased competition and KCG's ability to maintain
and expand market share; (x) the announced plan to relocate KCG's
global headquarters from Jersey City, NJ to New
York, NY; and (xi) KCG's ability to complete the sale or
disposition of any or all of the assets or businesses that are
classified as held for sale. The list above is not exhaustive.
Because forward looking statements involve risks and uncertainties,
the actual results and performance of KCG may materially differ
from the results expressed or implied by such statements. Given
these uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements. Unless otherwise
required by law, KCG also disclaims any obligation to update its
view of any such risks or uncertainties or to announce publicly the
result of any revisions to the forward-looking statements made
herein. Readers should carefully review the risks and uncertainties
disclosed in KCG's reports with the U.S. Securities and
Exchange Commission ("SEC"), including those detailed in "Risk
Factors" in Part I, Item 1A of KCG's Annual Report onForm10-K for
the year ended December 31, 2015, "Legal Proceedings" in Part
I, Item 3, under "Certain Factors Affecting Results of Operations"
in "Management's Discussion and Analysis of Financial Condition and
Results of Operations" in Part II, Item 7, in "Quantitative and
Qualitative Disclosures About Market Risk" in Part II, Item 7A, and
in other reports or documents KCG files with, or furnishes to,
the SEC from time to time. This information should be
read in conjunction with KCG's Consolidated Financial Statements
and the Notes thereto contained in its Annual Report on Form 10-K,
Quarterly Report on Form 10-Q, and in other reports or documents
KCG files with, or furnishes to, the SEC from time to
time.
CONTACTS
Sophie
Sohn |
Jonathan
Mairs |
Communications & Marketing |
Investor
Relations |
312-931-2299 |
646-682-6403 |
media@kcg.com |
investors@kcg.com |
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: KCG Holdings, Inc. via Globenewswire
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