|JUNE 27, 2002|
|Knight Trading Group Names John H. Bluher Executive Vice President, General Counsel and Director of Risk Management|
|JERSEY CITY, N.J., Jun 27, 2002 /PRNewswire-FirstCall via COMTEX/ -- Knight
Trading Group, Inc. (Nasdaq: NITE) today announced that John H. Bluher has been
named Executive Vice President, General Counsel and Director of Risk Management,
effective July 1, 2002. Mr. Bluher will oversee legal, compliance and risk
management matters for all of the Company's businesses, including Nasdaq market
maker Knight Securities, L.P. and options market maker Knight Financial Products
LLC. He also will assume the role of Corporate Secretary.
"John shares the same goal with the rest of Knight management -- maintaining and developing trading and compliance policies, procedures and systems that both support our business and are a model for the rest of Wall Street," said Thomas M. Joyce, Chief Executive Officer and President of Knight Trading Group. "John's 15 years of legal and compliance leadership, combined with extensive business knowledge, will be a tremendous asset to our team and to Knight."
Most recently, Mr. Bluher, 44, was Global Chief Compliance Officer at Prudential Securities, Inc. with responsibility for all compliance and surveillance functions for the subsidiary of Prudential Insurance of America. Prior to joining Prudential, he was General Counsel at the financial services holding company for AIG/SunAmerica Inc., overseeing all legal, compliance and regulatory activity for SunAmerica's six broker-dealer units. Mr. Bluher also has worked at the U.S. Securities and Exchange Commission's Division of Enforcement and in private practice.
"Knight is a company uniquely positioned to provide liquidity and independent order execution expertise to market participants," Mr. Bluher said. "I look forward to furthering Knight's commitment to strengthen the trust and confidence of our clients in Knight's trading services."
Mr. Bluher will work closely with Michael T. Dorsey, who will become Director of Legislative and Regulatory Affairs, and with the rest of the Knight legal and compliance staff.
Mr. Bluher added, "I am excited to join Knight's dedicated and skilled law and compliance team. In particular, I am pleased that Mike will be able to devote his full time and attention to market structure and legislative issues, which are increasingly dynamic and complex."
Knight is the liquidity center that offers superior execution services to its broker-dealer and institutional clients in over-the-counter (OTC) and listed equity securities, and in equity options. In so doing, Knight helps its clients meet their fiduciary obligation of obtaining best execution for the securities orders that they route on behalf of their customers. Knight also maintains an asset management business for institutions and high net worth individuals through Deephaven Capital Management LLC.
Knight has the power to commit capital for market orders and also maintains one of the largest limit order books in the OTC market. The Company has approximately 1,180 employees worldwide and is one of the largest destinations for stock orders placed via the Internet. Knight traded 135 billion shares in the year 2001, a volume behind only those posted by Nasdaq and the New York Stock Exchange (NYSE). More information about Knight can be obtained at http://www.knight-sec.com or http://www.knighttradinggroup.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.
John H. Bluher Executive Vice President, General Counsel, Director of Risk Management and Corporate Secretary Knight Trading Group, Inc.John H. Bluher, Executive Vice President, General Counsel, Director of Risk Management and Corporate Secretary of Knight Trading Group, Inc., is a law and compliance expert with experience throughout the securities industry, in both the private and public sectors, in the U.S. and abroad.
John joined Knight from Prudential Securities, Inc., where he was Global Chief Compliance Officer with responsibility for all compliance and surveillance functions for the three business divisions at the subsidiary of Prudential Insurance of America. As such, he managed a department with compliance, surveillance, blue sky and risk oversight for all U.S. retail distribution, as well as institutional, proprietary and agency trading in the Capital Markets Division, which includes all equity desks: domestic and international, syndicate, research, public finance and debt capital markets. John also was a key member of the firm's Global Risk Management Committee.
From 1997 to 2001, John was General Counsel for SunAmerica Financial Network, Inc., the financial services holding company for AIG/SunAmerica Inc. He oversaw all legal, compliance and regulatory activity for SunAmerica's six broker-dealer units. During his tenure, John was responsible for implementing a new supervisory business model; developing risk assessment models; chairing the project to design, develop and test a new compliance, surveillance and order entry trade system for home office, supervisor and field use; and counseling the broker-dealers on order handling and execution standards.
Previously, John was Senior Vice President and Regional Counsel for Prudential Securities, Inc.'s Western U.S. Division. From 1992 to 1997, John acted as counsel to the Regional and Divisional Officers and was responsible for regional litigation risk management strategies, litigation planning, and legal department coordination of compliance and surveillance initiatives.
John spent five years, from 1987 to 1992, with the U.S. Securities and Exchange Commission as a Senior Counsel in the agency's Division of Enforcement. His cases involved, among other issues, selective disclosure, insider trading and market manipulation. John began his career practicing civil litigation and general commercial work in private practice.
John received his B.S. and J.D. from the University of Wyoming. He is a frequent speaker at national and regional conferences and seminars for the Securities Industry Association, Practicing Law Institute, SEC Institute and National Regulatory Services.
SOURCE Knight Trading Group, Inc.
CONTACT: Margaret Wyrwas, Senior Vice President, Corporate Communications & Investor Relations, +1-201-557-6954, firstname.lastname@example.org, or Kara Fitzsimmons, Manager, Corporate Communications, +1-201-356-1523, email@example.com, both of Knight Trading Group URL: http://www.knight-sec.com http://www.prnewswire.com
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