|MARCH 30, 2006|
|Knight Capital Group Appoints William Karsh to Chief Executive Officer and Managing Director, Direct Edge ECN|
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.
SOURCE Knight Capital Group, Inc.