|View printer-friendly version|
|KCG ADDS FOUR NEW INDEPENDENT DIRECTORS TO BOARD|
KCG ADDS FOUR NEW INDEPENDENT DIRECTORS TO BOARD
NEW YORK, N.Y. - January 19, 2017 - KCG Holdings, Inc. (NYSE: KCG) announced today that its Board of Directors has appointed Peter Fisher, Colin Smith, Heather Tookes and Adrian Weller as Directors, effective immediately. KCG also announced that Rene M. Kern and John C. (Hans) Morris have informed the company that they will not be seeking reelection at the 2017 Annual Meeting of Stockholders.
"We are pleased to welcome these highly-qualified and experienced professionals to our Board and look forward to leveraging their relevant expertise and counsel as we continue to execute on our business objectives," said Charles E. Haldeman, Jr., Non-Executive Chairman of KCG's Board of Directors. "Collectively, Peter, Colin, Heather and Adrian bring significant expertise in finance, trading and regulation to KCG that will benefit the company as we continue to grow and innovate in today's evolving global markets."
The newly appointed Directors provide the KCG Board with unique insights and differentiated backgrounds:
Mr. Haldeman added, "On behalf of KCG and the entire Board, I want to thank Hans and Rene for their dedication and wealth of contributions to KCG throughout their tenures. We wish them continued success in their future endeavors."
With today's announcement, it is currently expected that 11 Directors will be nominated for election at KCG's 2017 Annual Meeting of Stockholders, 10 of whom would be independent.
About Peter Fisher
Mr. Fisher currently serves as a Director at AIG, Inc., the John F. Kennedy Library Foundation and the Peterson Institute for International Economics, and is on the Investment Advisory Committee of Google as well as the Advisory Committee on Systemic Resolution of the Federal Deposit Insurance Corporation. Previously, he was a part-time Senior Director of the BlackRock Investment, a member of the Strategic Advisory Committee of the Agence France Tresor and a non-executive director of the Financial Services Authority of the United Kingdom.
He received a JD degree from Harvard Law School and a BA in history from Harvard College.
About Colin Smith
From 2010 to 2012, Mr. Smith served as Chief Executive Officer of Concordance Capital Management, an event-driven asset management firm. Prior to that, he was the Managing Partner, Chief Executive Officer and Chief Investment Officer for Deephaven Capital Management, a global multi-strategy alternative asset manager, which he joined in 1998. Earlier in his career, he held positions at Peter Schoenfeld Asset Management, Schroder Wertheim and Continental Partners.
Mr. Smith holds a BA from Northwestern University.
About Heather Tookes
Professor Tookes also serves as Associate Editor at the Review of Financial Studies and Management Science. She is the author of several journal articles focused on issues in both market microstructure and corporate finance.
She received a PhD in finance from Cornell and a BA in economics from Brown University.
About Adrian Weller
Previously, Dr. Weller held senior roles in fixed income at Goldman Sachs, Salomon Brothers and Citadel.
He received a PhD in computer science from Columbia University, and BA and MA degrees in mathematics from Trinity College, Cambridge.
Certain statements contained herein and the documents incorporated by reference containing the words "believes," "intends," "expects," "anticipates," and words of similar meaning, may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These "forward-looking statements" are not historical facts and are based on current expectations, estimates and projections about KCG's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Any forward-looking statement contained herein speaks only as of the date on which it is made. Accordingly, 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 including, without limitation, risks associated with: (i) the inability to manage trading strategy performance and grow revenue and earnings; (ii) the receipt of additional payments from the sale of KCG Hotspot that are subject to certain contingencies; (iii) changes in market structure, legislative, regulatory or financial reporting rules, including the increased focus by Congress, federal and state regulators, the SROs and the media on market structure issues, and in particular, the scrutiny of high frequency trading, alternative trading systems, market fragmentation, colocation, access to market data feeds, and remuneration arrangements such as payment for order flow and exchange fee structures; (iv) past or future changes to KCG's organizational structure and management; (v) KCG's ability to develop competitive new products and services in a timely manner and the acceptance of such products and services by KCG's customers and potential customers; (vi) KCG's ability to keep up with technological changes; (vii) KCG's ability to effectively identify and manage market risk, operational and technology risk, cybersecurity risk, legal risk, liquidity risk, reputational risk, counterparty and credit risk, international risk, regulatory risk, and compliance risk; (viii) the cost and other effects of material contingencies, including litigation contingencies, and any adverse judicial, administrative or arbitral rulings or proceedings; (ix) the effects of increased competition and KCG's ability to maintain and expand market share; (x) the announced plan to relocate KCG's global headquarters from Jersey City, NJ to New York, NY; and (xi) KCG's ability to complete the sale or disposition of any or all of the assets or businesses that are classified as held for sale. The list above is not exhaustive. Because forward looking statements involve risks and uncertainties, the actual results and performance of KCG may materially differ from the results expressed or implied by such statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, KCG 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. Readers should carefully review the risks and uncertainties disclosed in KCG's reports with the U.S. Securities and Exchange Commission ("SEC"), including those detailed in "Risk Factors" in Part I, Item 1A of KCG's Annual Report onForm10-K for the year ended December 31, 2015, "Legal Proceedings" in Part I, Item 3, under "Certain Factors Affecting Results of Operations" in "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7, in "Quantitative and Qualitative Disclosures About Market Risk" in Part II, Item 7A, and in other reports or documents KCG files with, or furnishes to, the SEC from time to time. This information should be read in conjunction with KCG's Consolidated Financial Statements and the Notes thereto contained in its Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and in other reports or documents KCG files with, or furnishes to, the SEC from time to time.