|OCTOBER 30, 2002|
|Knight Trading Group Adds Five New Hires to Institutional Sales-Trading Operation in Boston|
|JERSEY CITY, N.J., Oct 30, 2002 /PRNewswire-FirstCall via COMTEX/ -- Knight
Trading Group, Inc. (Nasdaq: NITE) today announced the addition of five
professionals to the company's sales-trading operation in Boston, effective
November 4, 2002.
Knight named Marla N. Serwin, Senior Vice President of Institutional Sales. She had been a Director of the Institutional Sales-Trading operation at Merrill Lynch Capital Markets in Boston.
The following joined Knight as Vice Presidents of Institutional Sales from Boston-area firms and operations: Jeffrey S. Breay, an Institutional Sales Account Executive from Jefferies & Company; Tricia L. Downs, an Equity Sales Trader from Lehman Brothers Inc.; Joseph C. Hayward, a Vice President of Listed Trading at GKM; and Douglas E. Percy, a Director of Institutional Sales Trading at RBC Capital Markets. The new additions will report to Stephen J. Ashekian, Senior Vice President of Institutional Sales and head of Knight's Boston office.
"Knight's growth in the institutional market is a key to the advancement of our overall business strategy," said Thomas M. Joyce, Chief Executive Officer and President of Knight Trading Group. "We plan to concentrate a substantial amount of our effort in the Boston area in order to build client relationships with some of the largest and most important asset managers in the U.S. The addition of five experienced and talented institutional sales-traders underscores our dedication to best serving our Boston-area clients, as well as our commitment to a business plan that recognizes the revenue potential of being a leading institutional execution solutions provider."
Gregory C. Voetsch, Senior Vice President and Head of Knight's Institutional Group, said, "The quality of talent coming through the door at Knight is top-notch, and we believe we're building a Boston institutional sales and trading presence to be envied. Steve Ashekian has made great progress restructuring the Boston office and refining our institutional sales effort in the short time he's been with Knight. Steve and his staff are looking forward to building upon client relationships and providing execution services to this important money management center."
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 1,034 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 from the Company's Web site 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.
Marla N. Serwin
Marla N. Serwin, 44, is a senior securities industry executive with more than twenty years of experience working with global institutional clients. She joined Knight from Merrill Lynch Capital Markets Inc. where she was a Director in the Institutional Equity Sales-Trading operation in Boston. Her clients included some of the largest global mutual funds, banks, insurance companies and hedge funds. Marla was an active member in Merrill's mentoring program and recruiting committees, and she represented Merrill in key international business development initiatives. She also spent several years on the firm's institutional bond sales desk.
Prior to Merrill Lynch, Marla was a member of the languages department at the University of Denver in Colorado. She also worked at the United Nations Association in Denver where she utilized her fluent Spanish with foreign dignitaries and students.
Marla received her B.A. from the University of Denver in Colorado. She attended the Instituto Internacional in Madrid, Spain, and Harvard University in Cambridge, Massachusetts. She received her M.B.A. from Suffolk University in Boston, Massachusetts.
Jeffrey S. Breay
Jeffrey S. Breay, 26, joined Knight from Jefferies & Company where he worked on the institutional sales desk as an account executive in Boston. He began his career at the Boston office of Salomon Smith Barney where he worked as a sales assistant after graduating from college.
Jeff received his B.A. in Economics and Psychology from Georgetown University in Washington D.C.
Tricia L. Downs
Tricia L. Downs, 31, is an equity sales trader with experience covering major accounts including large mutual funds and global investors. Tricia joined Knight from Lehman Brothers Inc. in Boston where she worked for the past three years on a number of key accounts. Prior to Lehman Brothers, Tricia spent more than three years at Fidelity Management & Research Company where she worked on the trading desks of the technology, multi-sector and structured equity groups.
Tricia began her career at the Boston office of Kidder, Peabody & Company and then joined Donaldson, Lufkin & Jenrette where she worked for two years on the fixed income desk.
Tricia received her B.A. in Economics from Regis College in Weston, Massachusetts.
Joseph C. Hayward
Joseph C. Hayward, 32, joined Knight from GKM in Boston where he was a Vice President of Listed Trading. Prior to GKM, Joe traded for mid-to-small cap value and growth portfolio managers at Fleet Investment Advisors in Boston.
Prior to that, Joe worked at Sherwood Securities as a Vice President of OTC sales trading in their Boston operation. Before starting his career in financial services, Joe spent more than a year in the Boston Red Sox farm system.
Douglas E. Percy
Douglas E. Percy, 41, joined Knight from RBC Capital Markets where he was a Director of Institutional Sales Trading in Boston. Prior to RBC, Doug was a Vice President of Institutional Sales Trading at Needham & Company where he assisted in running the day-to-day trading operations and was responsible for sales coverage and trading of Tier 1 accounts in Boston.
Doug started his career in institutional sales at the Boston office of First Albany Corporation. He joined in 1997 as an institutional sales trader backing up all major Boston accounts for the firm before taking on sales coverage and trading of Tier 1, Tier 2 and Tier 3 accounts. He was Vice President of Institutional Sales Trading before leaving for Needham in 2000.
SOURCE Knight Trading Group, Inc.