Knight CEO Joyce Gets $7.5 Million Retention Bonus in Getco Deal
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Thomas Joyce, the chief executive officer of Knight Capital Group Inc., is poised to collect a $7.5 million retention payment tied to Getco LLC’s acquisition of the market-making firm, according to a government filing.
The bonus would be due when Getco, the Chicago-based high-frequency trading firm, completes its purchase of Knight, based on the Dec. 19 filing. The new company will be called KCG, for Knight Capital Getco, and if the merger is terminated, Knight or Getco may be required to pay the other party a $53 million fee, the companies said.