|MAY 1, 2000|
|Knight Securities Hires Walter McBride as Chief Information Officer|
JERSEY CITY, N.J., May 1 /PRNewswire/ -- Knight Securities, a subsidiary of Knight/Trimark Group, Inc. (Nasdaq: NITE), announced today that it has hired Walter McBride as its Chief Information Officer. McBride will oversee Knight Securities' information technology (IT) department. In this capacity, he will help ensure that Knight Securities keeps pace with its own rapid growth and with the surging volume and volatility in over-the-counter (OTC) stock trading.
"Walt McBride's extensive experience in building and managing large IT projects and organizations will help solidify Knight Securities' position as the top execution destination for Nasdaq and OTCBB stock transactions," said John G. Hewitt, President of Knight Securities. "Walt also will play an integral role in expanding our ability to process retail and institutional order flow intelligently and efficiently in an increasingly volatile OTC market. He adds valuable IT experience to our management team and affirms Knight's reputation as a top technology company with excellent traders."
"Walt, an early adopter of new technology to business applications, will play a critical role in keeping Knight Securities' growth and technology in lockstep," said David Shpilberg, Chief Operating Officer and Chief Technology Officer of Knight/Trimark Group. "To ensure that we continue to exceed the expectations of our clients, Walt will oversee Knight Securities' planned investments in new technology for electronic trading, information management, and systems integration."
Prior to joining Knight Securities, McBride was a Principal in Ernst & Young's Consulting Services IT Practice. During his 12-year tenure at E&Y, he focused primarily on enterprise "IT Effectiveness" and technology applications in business operations. He provided IT consulting to numerous companies, including Coca-Cola, Wachovia Bank and Burlington Industries.
Before E&Y, McBride was a Director of IT Systems and Applications for J.P. Stevens & Co., a large manufacturing firm. Some of the technology initiatives that he has helped develop include pioneering electronic business transactions such as Electronic Data Exchange (EDE), voice recognition systems and Theory of Constraints (TOC) techniques in supply chain management and complex scheduling systems. McBride holds business degrees from Middle Georgia College and Mercer University.
Knight, headquartered in Jersey City, NJ, is the parent company of Knight Securities, Knight Capital Markets (formerly Trimark Securities), Knight Financial Products (formerly Arbitrade) and Knight Securities International Ltd. Knight Securities makes markets in equity securities listed on Nasdaq and on the OTCBB of the National Association of Securities Dealers (NASD). Knight Capital Markets trades NYSE- and AMEX-listed equity securities over the counter -- the Third Market. Knight Financial Products makes markets in options on individual equities, equity indices, fixed income instruments and certain commodities in the U.S. and in Europe. Knight also maintains an asset management business for institutional investors and high net worth individuals through its Deephaven subsidiary.
As the number one destination for online trade executions, Knight is the processing power behind the explosive growth in securities trading via the Internet. The firm was recently selected to Fortune magazine's "e-50 Stock Index," an elite collection of companies that are shaping the new Internet- based economy. In addition, Knight, which has been in operations for fewer than five years, was selected to the "Forbes 500" ranking of the most profitable public companies in the U.S. Currently, the company employs more than 900 people worldwide with offices in Jersey City, NJ; Jericho, White Plains, Purchase and New York, NY; Chicago, IL; Boston, MA; Minnetonka, MN; Santa Clara, CA; and London, England. SOURCE Knight/Trimark Group, Inc.
CONTACT: Margaret Wyrwas, Vice President, Corporate Communications & Investor Relations, 201-557-6954 or firstname.lastname@example.org; or Chuck Dohrenwend, Manager, Corporate Communications, 201-356-1753 or email@example.com, both of Knight-Trimark Group; or Russell