Knight Capital Group Announces Departure of Gary Katcher
JERSEY CITY, N.J., July 22 /PRNewswire-FirstCall/ -- Knight Capital Group, Inc. (NYSE Euronext: KCG) today announced that Gary Katcher, 53, Executive Vice President and Head of Global Institutional Fixed Income, has resigned from his position. The company and Mr. Katcher have agreed the resignation will be effective July 31, 2010. James P. Smyth, 55, Executive Vice President, will assume Mr. Katcher's responsibilities on an interim basis while a search for a permanent replacement is conducted.
"Gary is one of our industry's leading entrepreneurs who built a tremendous fixed income business at Knight, significantly expanding our offerings across product classes within institutional fixed income," said Thomas M. Joyce, Chairman and Chief Executive Officer, Knight Capital Group. "Based on his track record of success, we expect that Gary will capitalize on the many opportunities that will come his way. We wish him well in his future endeavors."
"After building Libertas over the past eight years and finding a great home for it at Knight, I am confident that under Tom Joyce's leadership the fixed income team is in great hands," said Mr. Katcher. "I have assembled a great team and Knight now has the right people and products in place to continue to grow as market conditions improve. This has been a great experience for me. I now look forward to the next challenge in my career. I wish all my Knight colleagues success in their continuing efforts."
Mr. Katcher joined Knight in July 2008 with Knight's acquisition of Libertas Holdings, LLC, renamed Knight Libertas LLC (Knight Fixed Income). Founded by Mr. Katcher, Knight Libertas provides trade execution services and investment research to institutions across a broad range of fixed income securities, including high-yield and high-grade corporate bonds, distressed debt, asset-backed and mortgage-backed securities, convertible bonds and syndicated loans.
About Knight
Knight Capital Group, Inc. (NYSE Euronext: KCG) is a global financial services firm that provides market access and trade execution services across multiple asset classes to buy- and sell-side firms. Knight's hybrid market model features complementary electronic and voice trade execution services in global equities and fixed income as well as foreign exchange, futures and options. The firm is the leading source of liquidity in U.S. equities by share volume. Knight also offers capital markets services to corporate issuers. Knight is headquartered in Jersey City, NJ with a growing global presence across the Americas, Europe and the Asia-Pacific region. For more information, please go to www.knight.com.
Certain statements contained herein may constitute "forward-looking statements" within the meaning of 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 the Company's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. 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 changes in market structure, legislative or regulatory rule changes, the costs, integration, performance and operation of businesses recently acquired or developed organically, or that may be acquired in the future, by the Company and risks related to the costs and expenses associated with the Company's exit from the Asset Management business. Since such statements involve risks and uncertainties, the actual results and performance of the Company may turn out to be materially different from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company 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 the Company's reports with the U.S. Securities and Exchange Commission (SEC), including, without limitation, those detailed under the headings "Certain Factors Affecting Results of Operations" and "Risk Factors" in the Company's Annual Report on Form 10-K for the year-ended December 31, 2009, "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarter-ended March 31, 2010, and in other reports or documents the Company files with, or furnishes to, the SEC from time to time. This information should also be read in conjunction with the Company's Consolidated Financial Statements and the Notes thereto contained in the Company's Annual Report on Form 10-K for the year-ended December 31, 2009, and in other reports or documents the Company files with, or furnishes to, the SEC from time to time.
SOURCE Knight Capital Group, Inc.
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