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Bats President Who Rebuked Michael Lewis Leaves Exchange

Bill O’Brien, the former Goldman Sachs Group Inc. executive who built Direct Edge Holdings LLC into one of the biggest U.S. stock exchanges, is leaving the firm after merging it with Bats Global Markets Inc.

Joe Ratterman, the chief executive officer of Bats, will assume O’Brien’s role as president, according to a statement. The departure is effective immediately.