Bats Global Markets (Bats) has promoted Senior Vice President (SVP) Tony Barchetto to the new role of Executive Vice President and Head of Corporate Development with immediate effect, according to a Bats statement.
In his new role Mr. Barchetto will be admitted to Bats’ executive team, which currently includes all senior leadership at the exchange group. Prior to the promotion, Mr. Barchetto worked as the SVP of Business Development at the group, having led several new business initiatives and other acquisition ventures.
He originally joined Bats back in 2014, following the group’s acquisition of Direct Edge Holdings – in this capacity he worked as its Head of Corporate Strategy. Additional stops also include senior positions at Liquidnet and Knight Capital Group (KCG), as well as Citigroup.
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According to Bats Chief Executive Officer (CEO), Chris Concannon, in a recent statement on the appointment: “I’m excited to welcome Tony to the Executive Team, providing an opportunity for him to have an even greater impact on the growth and direction of the firm.”
“Bats believes in rewarding associates for outstanding performance and Tony has played a critical leadership role in a number of key initiatives to date, including the Hotspot acquisition which propelled us into the global foreign exchange market. Tony’s tremendous market structure knowledge and financial acumen will serve him well in his expanded role and I know he’ll continue to produce results,” he added.
Bats made headlines yesterday after it received formal approval from the US’ Securities and Exchange Commission (SEC) for the passage of the Bats Client Suspension Rule, which helps facilitate more steadfast action on behalf of the group against manipulative market behavior.