|SEPTEMBER 3, 2002|
|Knight Trading Group Hires Daniel J. Hurwitz To Lead West Coast Institutional Sales Effort|
|JERSEY CITY, N.J., Sep 3, 2002 /PRNewswire-FirstCall via COMTEX/ -- Knight
Trading Group, Inc. (Nasdaq: NITE) today announced that Daniel J. Hurwitz has
been named Senior Vice President and Head of San Francisco Office, effective
immediately. In this newly created position, Mr. Hurwitz is responsible for all
West Coast institutional sales.
Mr. Hurwitz, 41, has 10 years of experience serving institutional clients in the Western United States for Goldman Sachs & Co., J.C. Bradford and, most recently, Robertson Stephens & Co.
Thomas M. Joyce, Chief Executive Officer and President of Knight Trading Group, said, "Danny understands the importance of client service -- how to build business and how to maintain relationships. He also has great knowledge of and extensive relationships with institutions based on the West Coast, particularly firms in the top-five most important money management hubs of San Francisco and Los Angeles. These strengths make him an excellent leader for Knight's growing San Francisco office."
Mr. Hurwitz said, "Knight's trading platform, which marries technology and natural order flow, has great potential to serve institutions through products and services we have yet to explore. Further, I believe that, under Tom, clients come first and Knight's integrity is paramount. This mind-set and the many opportunities I see ahead of Knight are what attracted me to take on the challenge of building Knight's West Coast presence."
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 1,110 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.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.
Daniel J. Hurwitz, Senior Vice President and Head of San Francisco Office for Knight Trading Group, Inc., has spent the last 10 years managing relationships throughout the institutional asset management arena.
Daniel joined Knight in September 2002 from Robertson Stephens & Co. where as a Principal he worked to increase secondary business in major accounts at the San Francisco-based firm. From 1999 to 2000, Daniel was an Investment Limited Partner at J.C. Bradford in Nashville with responsibility for clients in California, among other Western territories. Daniel started his career in institutional sales as a Vice President for Goldman Sachs & Company in Chicago from 1993 to 1999.
Daniel also spent a decade in client service and sales outside the institutional asset management industry. From 1983 to 1986, he was the Northern California Territory Manager for American Hospital Supply. From 1986 to 1993, he was Vice President, Tenant Representation Services for commercial real estate firm Frain Camins & Swartchild in Chicago.
Daniel received a Master of Management in the Executive Master Program of the J.K. Kellogg Graduate School of Management in 1993. He graduated from Northwestern University in 1983 with a B.S. in Communications Studies.
SOURCE Knight Trading Group, Inc.