Virtu Appoints Molluso and Fairclough as Co-Presidents

Molluso had served as CFO at the firm for four years earlier in his career

Virtu Financial announced this week that it has appointed Brett Fairclough and Joseph Molluso as Co-Presidents and Co-Chief Operating Officers at the firm.

Fairclough and Molluso, as well as Steve Cavoli, Global Head of Execution Services at the company, will report directly to Virtu’s CEO, Douglas Cifu.

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Fairclough was promoted to Chief Operating Officer and Global Head of Business Development at Virtu in September last year. He has worked at the company since 2007.

He led Virtu’s Asia Pacific operations for five years from 2014 and served as a Chief Compliance Officer of Virtu’s broker-dealer subsidiaries from 2012 to 2014.

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“Since assuming his expanded role last year, Brett has excelled in applying his market knowledge and expertise in driving results at Virtu,” says Douglas Cifu, Chief Executive Officer at Virtu.

Re-joining Virtu

Molluso re-joins Virtu after having served as its Chief Financial Officer from 2013 until October 2019. He moves back to the firm from Capitolis, where he became Chief Financial Officer in 2019.

Molluso provided overall leadership to Virtu and played a key role in the firm’s Initial Public Offering, as well as in the successful acquisitions and integrations of KCG Holdings, Inc. and Investment Technology Group, Inc.

“We are very pleased Joe is re-joining Virtu. His significant knowledge of Virtu from his many successful years at the company will allow him to have an immediate impact in his expanded role. Joe will join Brett as Co-President and Co-COO, Steve Cavoli, our Global Head of Execution Services and the management team as we work to continue growing our businesses,” Cifu says.

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