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kcg holdings inc-cl a (KCG) Key Developments

KCG Holdings, Inc. Announces Executive Appointments

KCG Holdings, Inc. 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. 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. 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. 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.

KCG Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

KCG Holdings, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported total revenues of $346,139,000 compared to $323,374,000 a year ago. Income from continuing operations before income taxes was $26,531,000 compared to loss from continuing operations before income taxes of $16,699,000 a year ago. Income from continuing operations, net of tax was $25,969,000 or $0.23 per diluted share compared to loss from continuing operations, net of tax of $17,486,000 or $0.15 per diluted share a year ago. Net income was $26,134,000 or $0.23 per diluted share compared to net loss of $16,622,000 or $0.15 per diluted share a year ago. Non-GAAP income from continuing operations before income taxes was $30,532,000 compared to $19,845,000 a year ago. For the year, the company reported total revenues of $1,316,232,000 compared to $1,027,336,000 a year ago. Income from continuing operations before income taxes was $85,187,000 compared to $24,978,000 a year ago. Income from continuing operations, net of tax was $62,434,000 or $0.54 per diluted share compared to $126,092,000 or $1.82 per diluted share a year ago. Net income attributable to common shareholders was $61,102,000 or $0.52 per diluted share compared to $147,737,000 or $1.82 per diluted share a year ago. Non-GAAP income from continuing operations before income taxes was $90,089,000 compared to $36,057,000 a year ago.

KCG Holdings Seeks Acquisitions

KCG Holdings, Inc. (NYSE:KCG) is looking for acquisition opportunities. “We look at different things to do with our cash with respect to investing our business, or acquisitions, or buybacks. And I think those three options are on the table over time. We're still bringing this integration to a close, so I would suggest an acquisition would be easier to really consider in the second half as opposed to now. Because we still have a lot to work to do to complete this, but we're coming to an end,” said Daniel Coleman, Chief Executive Officer of KCG.

KCG Holdings, Inc. Appoints Steffen Parratt as Chief Financial Officer

KCG Holdings, Inc. announced that Steffen Parratt has been appointed as the company's Chief Financial Officer, effective immediately. He assumes the role from Sean Galvin, KCG's Interim CFO, following an executive search. Mr. Galvin will return to his role as Chief Accounting Officer. Mr. Parratt brings to KCG more than two decades of experience in financial services and technology industries, during which he focused on business development, strategy and analysis working directly with executive management at top institutions. He was a Managing Director at Bank of America Merrill Lynch where he helped develop a strategic plan to integrate Merrill Lynch, U.S. Trust and the legacy Bank of America wealth business. Mr. Parratt also spent more than a decade at Citigroup Inc. in a number of leadership roles most recently as Managing Director and Global Staff Functions Task Leader, Reengineering and Productivity Group where he was responsible for reengineering organizations and processes in the firm's finance, risk, compliance, audit, legal, human resources units. Prior to his roles in finance, Mr. Parratt worked as an engineer at Sandia National Laboratories and Hughes Aircraft Company. Most recently, Mr. Parratt was an entrepreneur, where he launched ventures in finance, management, and strategy with a focus on developing software to realize operational effectiveness and efficiencies.

KCG Holdings, Inc. to Report Q4, 2014 Results on Jan 30, 2015

KCG Holdings, Inc. announced that they will report Q4, 2014 results Pre-Market on Jan 30, 2015

 

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Price/Earnings 23.5x
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