KCG TO LAUNCH
NEW RISK ARBITRAGE GROUP
JERSEY CITY,
N.J. - February 24, 2015 - KCG Holdings, Inc. (NYSE: KCG) today
announced the launch of its risk arbitrage group, a new offering
specifically dedicated to providing clients with insight into
complex and special situations through expert regulatory and event
arbitrage-related analysis.
Greg Tusar, Co-Head of KCG's
Global Execution Services and Platforms commented: "Whether it's
executing a trade, tailoring an algorithmic strategy or evaluating
execution quality venue by venue, our clients look to us for market
expertise and smart solutions. With the addition of a dedicated
risk arbitrage group, we can provide an additive analysis and
trading offering to current clients and reach new clients, as
well."
As part of the newly formed team,
Eric Laumann has been appointed Head of Risk Arbitrage. The
team will include Jason King and veteran event-driven trader Louis
Juliano.
Reflecting on his new role, Mr.
Laumann said: "In today's investment environment, clients are
constantly looking for deeper analysis of events and their
outcomes. A special situation can have a significant impact on a
clients' strategy, portfolio or fund. Managing and optimizing event
related risk is critical. Our offering is a fitting
complement to the range of services KCG currently provides clients
and I am looking forward to leading this exciting new
offering."
Mr. Laumann brings over 20 years
of experience in event arbitrage-related services and complex,
multi-billion dollar civil litigation to his role at KCG. He
joins from Millennium Partners, where he was a risk arbitrage
co-portfolio manager. Prior to that, Mr. Laumann held several
leadership positions in event arbitrage, including Managing
Director and Head of the North American risk arbitrage desk at
Credit Suisse, senior member of Bear Stearns' buy-side/sell-side
risk arbitrage desk, and senior analyst on Deephaven Capital
Management's event arbitrage team.
As a litigator, Mr. Laumann held
positions at Weil, Gotshal, & Manges, Jenner & Block,
Kasowitz, Benson, Torres & Friedman and Sullivan & Cromwell
and clerked for the U.S. District Court for the Eastern District of
Pennsylvania. Mr. Laumann holds an A.B. with high honors in
economics from the University of Michigan and a J.D. cum laude from
the University of Pennsylvania. He is a member of the Bar in
New York and an inactive member of the Bar in Illinois and
California.
Mr. King brings over 15 years of experience to his
new event arbitrage role at KCG. He joins the team from
Cantor Fitzgerald, where he served as Managing Director of the Risk
Arbitrage desk. Prior to Cantor Fitzgerald, Mr. King was Managing
Director and Head of the Securities Risk Arbitrage desk at UBS, and
also served in senior management roles on the risk arbitrage desks
at JP Morgan and Credit Suisse. He holds a B.S. in Finance and
Business Administration from Fordham University.
About KCG
KCG is a leading independent securities firm offering investors and
clients a range of services designed to address trading needs
across asset classes, product types and time zones. The firm
combines advanced technology with exceptional client service across
market making, agency execution and venues. KCG has multiple access
points to trade global equities, fixed income, currencies and
commodities via voice or automated execution. www.kcg.com
Certain statements contained
herein may constitute "forward-looking statements" within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are typically identified by words such as "believe,"
"expect," "anticipate," "intend," "target," "estimate," "continue,"
"positions," "prospects" or "potential," by future conditional
verbs such as "will," "would," "should," "could" or "may," or by
variations of such words or by similar expressions. 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 strategic business combination (the "Mergers") of Knight
Capital Group, Inc. ("Knight") and GETCO Holding Company, LLC
("GETCO"), including, among other things, (a) difficulties and
delays in integrating the Knight and GETCO businesses or fully
realizing cost savings and other benefits, (b) the inability to
sustain revenue and earnings growth, and (c) customer and client
reactions to the Mergers; (ii) the August 1, 2012 technology issue
that resulted in Knight's broker-dealer subsidiary sending numerous
erroneous orders in NYSE-listed and NYSE Arca securities into the
market and the impact to Knight's business as well as actions taken
in response thereto and consequences thereof; (iii) the sale of
KCG's reverse mortgage origination and securitization business,
sale of KCG's futures commission merchant and the agreement to sell
KCG Hotspot; (iv) changes in market structure, legislative,
regulatory or financial reporting rules, including the increased
focus by regulators, the New York Attorney General, Congress 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; (v) past or future changes to
organizational structure and management; (vi) 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; (vii) KCG's ability to keep up with
technological changes; (viii) KCG's ability to effectively identify
and manage market risk, operational and technology risk, legal
risk, liquidity risk, reputational risk, counterparty and credit
risk, international risk, regulatory risk, and compliance risk;
(ix) the cost and other effects of material contingencies,
including litigation contingencies, and any adverse judicial,
administrative or arbitral rulings or proceedings; and (x) the
effects of increased competition and KCG's ability to maintain and
expand market share. The list above is not exhaustive. Readers
should carefully review the risks and uncertainties disclosed in
KCG's reports with the SEC, including, without limitation, those
detailed under "Risk Factors" in KCG's Annual Report on Form 10-K
for the year-ended December 31, 2013, under "Certain Factors
Affecting Results of Operations" in KCG's Quarterly Report on Form
10-Q for the period ended September 30, 2014 and other reports or
documents KCG files with, or furnishes to, the SEC from time to
time.
CONTACTS
Sophie
Sohn |
Jonathan
Mairs |
Communications & Marketing |
Investor
Relations |
312-931-2299 |
201-356-1529 |
media@kcg.com |
jmairs@kcg.com |
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: KCG Holdings, Inc. via Globenewswire
HUG#1896692
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