Knight Capital Group Appoints William Karsh to Chief Executive Officer and Managing Director, Direct Edge ECN
March 30 2006 - 9:30AM
PR Newswire (US)
JERSEY CITY, N.J., March 30 /PRNewswire-FirstCall/ -- Knight
Capital Group, Inc. (NASDAQ:NITE) announced today the appointment
of William Karsh as Chief Executive Officer and Managing Director,
Direct Edge ECN. Mr. Karsh joins Knight from the Bass Division of
BTIG, where he was Managing Director and Chief Operating Officer.
Prior to his employment with Bass Trading, he was with Trading
Services Group, LLC, where he served as Executive Vice President,
Electronic Trading. "Knight has expanded its electronic services
considerably over the past year, and as we further diversify and
strengthen our business, we must augment our management team with
talented leaders," said James P. Smyth, Senior Managing Director,
Head of Broker-Dealer Client Group. "I believe Bill possesses the
knowledge, experience and client commitment to help us expand our
business. With more than 25 years of financial services experience,
Bill brings to Knight the demonstrated ability to turn concepts
into significant entities, which we believe will be key in
parlaying Direct Edge ECN's services into a greater value-added
product for our clients." At Trading Services Group, LLC, Mr. Karsh
created a consultative practice for electronic trading, marketed
aggregator products to both hedge funds and more traditional money
managers such as mutual fund companies, and negotiated reselling
relationships with seven major aggregators. Previously, Mr. Karsh
was President and Senior Managing Director at UNX, Inc., an
electronic agency and soft dollar solution provider, where his
responsibilities included establishing a repatriation product for
soft dollar and hard dollar credits to other broker-dealers and
independent research boutiques. He was also in charge of all direct
terminal sales, agency desk and operations. Direct Edge ECN LLC is
a regulated broker-dealer subsidiary of Knight Capital Group, Inc.
Direct Edge ECN is a liquidity destination offering the ability to
match trades in Nasdaq National Market and Nasdaq Small Cap
securities by displaying orders in the Nasdaq Market Center or the
NASD Alternative Display Facility (member NASD and SIPC). Knight
Capital Group, Inc. (NASDAQ:NITE) is a leading financial services
firm that provides comprehensive trade execution solutions and
asset management services. Our Asset Management business, Deephaven
Capital Management, is a global multi-strategy alternative
investment manager focused on delivering attractive risk-adjusted
returns with low correlation to the broader markets for
institutions and private clients. Our Global Markets business
provides a broad range of customized trade execution products and
services across multiple asset classes for broker-dealers,
institutions and issuer companies. We continually apply knowledge
and innovation to the trading and asset management processes to
build lasting client partnerships through consistent performance
and superior client service. More information about Knight can be
obtained at http://www.knight.com/ . Certain statements contained
herein constitute "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on current expectations,
estimates and projections about the Company's industry,
management's beliefs and certain assumptions made by management.
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.
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; however, readers
should carefully review reports or documents the Company files from
time to time with the Securities and Exchange Commission including,
without limitation, the risks and uncertainties detailed under the
headings "Certain Factors Affecting Results of Operations" and
"Risks Affecting our Business" in the Company's Annual Report on
Form 10-K. DATASOURCE: Knight Capital Group, Inc. CONTACT: Margaret
Wyrwas, Senior Managing Director, Corporate Communications &
Investor Relations, +1-201-557-6954, , or Kara Fitzsimmons, Vice
President, Corporate Communications, +1-201-356-1523, , Greta
Morley, Vice President, Marketing Communications & Public
Relations, +1-201-557-6948, , or Molly McDowell, Analyst, Corporate
Communications & Investor Relations, +1-201-356-1723, , or
Jillian E. Herman, Analyst, Marketing Communications,
+1-201-356-1761, , all of Knight Capital Group, Inc. Web site:
http://www.knight.com/
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