Electronic market makers shuffle senior management
GETCO, the US-based electronic market maker, has named Daniel Coleman as CEO, while Easdaq, owner of the Equiduct pan-European trading venue, has appointed two people from fellow market maker Citadel to its board.
As GETCO’s new CEO, Coleman will take responsibility for the firm’s core market-making business and continued expansion to client services offerings in the US and abroad.
Coleman originally joined GETCO as global head of equities and client services, dealing with equity market making and the firm’s execution services divisions in the US and Europe. Prior to working at GETCO, Coleman was global head of equities at UBS and also held positions on the Swiss bank’s executive committee and managing board.
Since his appointment in September 2010, GETCO has acquired Banc of America Specialists, a designated market making business on the floor of the New York Stock Exchange, and Automat, a London-based proprietary FX trading firm.
“In 2010, we were fortunate enough to bring Daniel Coleman to GETCO,” said Stephen Schuler, co-founder at GETCO, who has now also assumed the role of executive director at the firm. “We had a sense that he might be the right person to lead us into the next phase of our evolution, and we are pleased to see our instincts borne out. Since joining GETCO, Daniel’s leadership and insights have greatly contributed to our continued growth, success, and most importantly, our culture.”
Equiduct bolsters board
Meanwhile, Easdaq has added four new members to its board, including Jonathan Graham, who leads Citadel’s tactical trading business, and Jamil Nazarali, who was appointed co-head of Citadel’s global automated trading division last year after leaving his position as head of electronic trading at US broker Knight Capital.
In addition, Daniel Pouget, entrepreneur in residence at INSEAD business school, and Peter Randall, CEO at Equiduct Systems, have also joined the Easdaq board.
Pouget was formerly a managing director at Nasdaq OMX and CEO at agency broker Instinet France, and is also one of the co-founders of broker Dufour Lacarrier Pouget. Randall was appointed to lead Equiduct in 2009 and is best known for being the first CEO of pan-European multilateral trading facility Chi-X Europe.
Citadel Securities took majority stake in Equiduct in July 2009, months after its launch by German stock exchange Börse Berlin. Knight Capital also has a stake in Equiduct, which it increased in June 2010 as part of efforts to expand its European market making business.