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Electronic Trading Execs Resign at Knight
March 1, 2011
Tom Steinert-Threlkeld
Two managing directors have resigned their posts in the Electronic Trading Group at Knight Capital Group.
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Jamil M. Nazarali resigned from his position as senior managing director and global head of Knight's Electronic Trading Group. In that capacity, he oversaw all of Knight's automated trading, worldwide, according to his company biography.
Also resigning Monday was Matt Cushman, a managing director in the group, specializing in quantitative strategies.
Knight, in its official statement on the resignations, gave no explanation for the departures. The company said it would "immediately commence a search" for a replacement for Nazarali.
Steven Sadoff, Executive Vice President and Head of Operations, Services and Technology, at Knight will oversee the Electronic Grading Group in the interim.
Nazarali helped start ETG when he joined the firm in 2000 and oversaw its growth in automated trading since then. Among Mr. Nazarali’s responsibilities is Knight Link, one of the largest sources of off-exchange liquidity in the U.S. equities market.
Nazarali joined Knight from Ernst & Young, where he was a management consultant.
Nazarali has been the chairman of the New York Stock Exchange Electronic Trading Advisory Committee.
Knight Capital Group provides access to capital markets across multiple asset classes to trading firms and corporations.
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