ITG (NYSE:ITG), an independent execution broker and research provider, has appointed Francis J. Troise as its Chief Executive Officer (CEO) and President.
The executive appointment will also see Mr. Troise become a member of ITG’s Board of Directors. However, the appointments are pending an obligatory hiatus that is expected to expire by January 2016.
Mr. Troise joins ITG after a lengthy stint at several financial service providers. This includes most recently his role at JPMorgan as its Managing Director and Head of Execution Services dating back to 2010.
Prior to JPMorgan, he also worked as the Global Head of Electronic Trading at Barclays Capital and Head of US Electronic Execution at Lehman Brothers. His appointment marks the second time he’s worked for ITG, as he previously spent over eight years at the provider as Managing Director.
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According to Maureen O’Hara, Chair of the Board of Directors, in a recent statement on the appointment, “After a thorough and careful search process, the ITG Board chose Frank as the right candidate to lead ITG at this pivotal time. Frank brings extensive experience in vision, strategy, and delivery. He is a well-known industry expert with an impressive track record of growing electronic trading operations, establishing strong client relationships, and building and leading talented teams.”
Ms. O’Hara added, “The Board would also like to thank fellow ITG Board member Jarrett Lilien for his service as interim CEO and President. Jarrett’s leadership has played an important part in putting ITG on the road to recovery and establishing the positive business momentum we have seen so far this quarter,” added Ms. O’Hara.
Commenting on his appointment, Mr. Troise said, “I am thrilled to be returning to ITG, a firm which I know first-hand is relentlessly focused on providing world-class customer service and best execution. I look forward to building on the achievements of the past 28 years as we reaffirm our position as an industry leader in innovation and a key partner to the institutional investment community,” reiterated Mr. Troise.
Last week, ITG made headlines after it launched Market Compass, a mobile application based on predictive modeling techniques for traders. ITG Market Compass caters to a variety of tasks for traders and market participants, including market openings, advanced modeling methodologies, and sector-specific forecasting. The offering is geared primarily for institutional traders, with specific emphasis on equities and foreign exchange (FX) trading.