Group Co.
Virtu Announces Expansion of Executive Team and CFO Transition
Traders Magazine Online News, September 5, 2019
Virtu Financial, Inc. (NASDAQ: VIRT), a provider of financial services and products that leverages cutting edge technology to deliver liquidity to the global markets and provide execution services and data, analytics and connectivity producannounced new executive hires and changes to its leadership team.
“These appointments and new hires are a testament both to Virtu’s deep bench of internal talent and our ability to retain and attract industry leaders,” said Virtu’s Chief Executive Officer, Douglas A. Cifu. “As Virtu executes on its mission to deliver valuable trading products and services across its multi-asset global platform, the strengthening of our executive team enables us to expand our reach while maintaining the operational excellence necessary to drive our business to new heights.”
The following leaders join Virtu’s executive leadership team:
Brett Fairclough has been promoted to Chief Operating Officer and Global Head of Business Development at Virtu, where he has worked since 2007. He led our Asia Pacific operations from 2014-2019 and was the Chief Compliance Officer of Virtu’s broker-dealer subsidiaries from 2012-2014. In his previous roles, Brett worked closely with exchanges and other industry participants to foster the growth and development of securities markets globally. Mr. Fairclough attended the University of California at Los Angeles.
“Brett has served Virtu in numerous roles over the last 12 years and has consistently raised the standard of excellence across the firm with operational rigor and deep market structure expertise,” said Mr. Cifu. “We are pleased to have him returning to New York in this executive leadership role.”
Alex Ioffe will be joining Virtu as its Chief Financial Officer, effective September 30, 2019. Alex will succeed Joseph Molluso, Virtu’s current Chief Financial Officer since 2013, who has decided to depart Virtu following a transition period in order to pursue other interests. Alex has almost 20 years of experience within the electronic brokerage industry and over 25 years’ experience in financial leadership roles, including most recently as the Chief Financial Officer of the U.S. broker-dealer subsidiary of Interactive Brokers Group, Inc. He previously served in senior financial roles at Datek and Bertelsmann and as an information technology consultant at Accenture. Mr. Ioffe attended Lehigh University and earned an M.B.A. from Columbia University.
“Virtu is delighted to welcome Alex to our senior management team and we look forward to benefiting from his deep expertise in financial leadership as Virtu continues to mature as an organization,” said Mr. Cifu. “After six years at Virtu, Joe has decided to pursue other interests. We thank Joe for his dedicated leadership and the instrumental role he played in our successful public offering, the KCG and ITG acquisitions, and in expanding the scope of the firm globally. We wish him well in his future endeavors.”
Marc Rosenthal joins Virtu’s executive team as Executive Vice President of Strategy and Corporate Development. Prior to joining Virtu, Marc was a Managing Director in Morgan Stanley’s Equity Division and a senior member of the electronic trading management team. During his more than 22 years at Morgan Stanley, Marc’s responsibilities included MS’s global liquidity strategy across its global venues and managing several of MS’s successful strategic investments. Mr. Rosenthal attended Yeshiva University.
“We are thrilled to have Marc join our team to lead corporate and strategic development. Marc brings a deep understanding of industry dynamics and deal skills that add significant value to Virtu as we continue to seek growth opportunities,” said Mr. Cifu.
Hyungtaek (Henry) Kim has been promoted to Chief Accounting Officer. Henry has worked at Virtu since 2011, serving in roles of increasing responsibility, including Financial and Operations Principal of Virtu’s broker-dealer subsidiaries. Mr. Kim attended Lehigh University and received an M.B.A. from Columbia University.
“Henry’s financial acumen and comprehensive understanding of our global operations contribute significant value to Virtu. His appointment as CAO ensures continuity of leadership within our finance and accounting team as Virtu continues its evolution,” said Mr. Cifu.
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