March 11 (Bloomberg) -- KCG Holdings Inc., the firm created when Getco LLC merged with Knight Capital Group Inc., hired Anthony Abenante as a senior adviser to its global execution services business.
Abenante was co-chief executive officer of Instinet Inc., a unit of Nomura Holdings Inc., from June 2007 until May 2012. He also spent 10 years at Investment Technology Group Inc. In his new role Abenante, 47, will provide strategic advice on the development of KCG’s institutional business, the firm said in a statement.
KCG was created after last July’s merger between Chicago high-frequency trading firm Getco and Jersey City, New Jersey-based Knight, which specialized in market-making for individual investor orders sent by retail brokers. The new firm has been shifting its focus to serving institutional investors, an area where Abenante will help.
“We’re extremely excited to have Anthony as part of the team, helping us guide product development and how to evolve our business model,” Greg Tusar, head of global execution services at KCG, said in a phone interview. “Anthony also has a wealth of client relationships that I think can be quite helpful to the firm in growing our business.”
While the role is not a full-time staff job, it’s more than a consultant position, Tusar said. Abenante will be based in KCG’s Jersey City office.
“You really want to be one of the first calls to help out the institutional investor as market structure evolves,” Abenante said. “I saw that as a very valuable role that we played for our clients at Instinet, which was ‘help us decipher what it means now.’”
“I think being an expert in the space is going to be an interesting and valuable place for KCG to move the firm towards,” he said by phone.
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