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STREET MOVES:Key Electronic Trading Execs Leave Knight Capital
By Donna Kardos Yesalavich
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--Knight Capital Group Inc. (KCG) announced the departure of two key executives Monday in a move that will leave a substantial hole in the financial-services firm's electronic trading group.

Jamil Nazarali is resigning from his post as senior managing director of Knight Capital Americas, responsible for the company's electronic trading group, while Matt Cushman is leaving his position as managing director in the electronic trading group, Knight said. Cushman's departure comes as he was in the midst of heading a push into options for Knight.

A spokeswoman said the company could not elaborate on the resignations beyond a press release announcing the moves.

In the release, the company said it will immediately begin searching for a successor to lead its electronic trading group. It appointed Steven Sadoff, executive vice president and head of operations, services and technology, to oversee the electronic trading group during the transition period.

Knight also noted that "the company has built a strong bench of talent in its [electronic trading] business, with a team of quantitative strategists, developers, traders and sales people."

-By Donna Kardos Yesalavich, Dow Jones Newswires; 212-416-2188; [e-mail]

http://online.wsj.com/article/BT-CO-20110228-712100.html