|JANUARY 16, 2003|
|Knight Expands Institutional Sales and Listed Cash Equities Operations With Four Hires|
JERSEY CITY, N.J., Jan. 16 /PRNewswire-FirstCall/ -- Knight Trading Group, Inc. (Nasdaq: NITE) today announced three additions to its institutional sales trading team and appointed a leader for its listed block trading operations.
Kenneth D. Aspell, 49, was named Senior Vice President and Institutional Sales Trader in Knight's San Francisco office. He comes from Goldman Sachs & Co. where he helped managed the firm's San Francisco area institutional relationships and, before that, Goldman's Los Angeles clients. Knight named Mark R. Doolan, formerly of Morgan Stanley, as a Senior Vice President and Institutional Sales Trader in the company's Jersey City office. Mr. Doolan, 39, has more than 15 years in the OTC market for firms including Donaldson Lufkin & Jenrette, JP Morgan, Goldman Sachs and Instinet. David S. Lehmann, 40, was named Senior Vice President and Institutional Sales Trader in Chicago. Mr. Lehmann has worked with Montgomery Securities, Salomon Brothers and Merrill Lynch. All three will report to Gregory C. Voetsch, Senior Vice President and Head of Institutional Group.
In addition, Knight named Larry E. Rehmer, 37, a Senior Vice President and Head of Listed Block Trading. Previously, Mr. Rehmer was the Head of Listed Trading for Robertson Stephens. He will report to Glenn T. Callen, Senior Vice President and Head of Cash Equity Trading.
"Knight is continuing to build both its institutional sales and its cash equities trading staff with high-caliber individuals who draw on their varied experience across the Street and who understand how to cultivate client relationships," said Thomas M. Joyce, Chief Executive Officer and President of Knight Trading Group. "Ken adds strength to our West Coast presence, while David will help Knight tap the institutional market in Chicago - a new arena for the company. Mark brings us years of sales trading experience in the OTC market. And while Knight is already a major presence trading listed securities, with market-making capabilities in every NYSE and AMEX security through the Nasdaq InterMarket, Larry will add even greater knowledge and skills to our team."
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 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.
Kenneth D. Aspell
Kenneth D. Aspell, 49, joined Knight after more than a decade with Goldman Sachs & Co. and a career serving West Coast institutions. Ken was Vice President of Institutional Sales at Goldman's San Francisco office for three years, and prior to that, he had the same responsibilities in the firm's Los Angeles office. Ken had joined Goldman Sachs in 1991. He started his career in 1978 with Kidder Peabody in Los Angeles serving institutional accounts.
Ken has a B.S. in economics and an M.B.A. in finance and marketing from UCLA in Los Angeles, California. While in Los Angeles, Ken served on the Board of Directors of the Securities Traders Association of Los Angeles.
Mark R. Doolan
Mark R. Doolan, 39, spent more than 15 years in OTC trading for multiple Wall Street firms. Most recently, Mark was Executive Director, OTC Sales Trading, at Morgan Stanley. Prior to joining Morgan Stanley in 2000, Mark was Vice President, OTC Sales Trading at Donaldson Lufkin & Jenrette from 1998 through 2000, and at JP Morgan from 1994 through 1998. Mark was an Associate of OTC Sales Trading at Goldman Sachs & Co. from 1992 to 1994. Previously, from 1987 to 1992, he was a Sales Trader at Instinet. Mark also worked in Telemarketing Sales at IT&T from 1985 to 1987.
Mark has a B.S. from the University of Scranton in Scranton, Pennsylvania, and an M.B.A. from Wagner College in Staten Island, New York.
David S. Lehmann
David S. Lehmann, 40, was recruited by Knight in 2003 to grow the company's presence in Chicago's institutional market. Previously, David managed private assets overseas and was involved in restructuring Upaid Systems, Ltd., a wireless communications software company for which he remains a member of the Board of Directors.
From 1991 to 1999, David was a Senior Managing Director and Partner for Listed Equity Sales and Trading at Montgomery Securities (later Bank of America Securities). Prior to that, he was a Listed Block Trader and a Vice President of Listed Equity Trading for Salomon Brothers. David started his career at Merrill Lynch in 1986 as a Listed Block Trader and was a Vice President of Listed Equity Trading before leaving in 1990.
David has a B.S. in business administration and marketing from the University of Illinois in Champaign-Urbana, Illinois, and an M.B.A. in finance from Columbia University in New York, New York.
Larry E. Rehmer
Larry E. Rehmer, 37, came to Knight from Robertson Stephens where he helped build the firm's listed trading desk over the last six years as Head of Listed Trading. During his tenure, he tripled the size of the desk's staff and expanded its sector specialization to comprise technology, retail, banking, insurance, restaurants, REITs, healthcare and medical technology. Larry also was part of a team that built an internal trading and risk management system for the firm.
Larry joined Robertson Stephens from Cowen & Co. where he started in 1989 and, after a year as Head Floor Clerk, moved upstairs to be an Assistant Trader on the listed desk. In 1991, he was named a Senior Trader responsible for listed technology and healthcare stocks. He left for Robertson Stephens in early 1997.
Larry started his career in 1987 as a floor clerk on the New York Stock Exchange for Dean Witter Reynolds. He has a B.S. from Syracuse University in Syracuse, New York.
SOURCE Knight Trading Group, Inc.
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