Barclays Hired Ousted ITG CEO Gasser for Technology Position

  • Bank brought on Gasser for role in technology strategy
  • Gasser left ITG in 2015 amid $20.3 million SEC settlement

Barclays Plc hired Bob Gasser, the former Investment Technology Group Inc. chief executive officer who was ousted last year, for a senior position in its technology business.

Gasser has worked at the London-based bank since October, serving as head of strategy for pre-market trading technology, said Andrew Smith, a Barclays spokesman.

ITG removed Gasser after revealing the Securities and Exchange Commission was investigating its dark pool. The case, which involved conduct from Gasser’s time running the brokerage, was settled for $20.3 million. ITG has since agreed to pay $5.25 million to Gasser to settle claims that it wrongfully terminated his contract and defamed him. Gasser initially sought $13 million.

Financial News reported in September that Gasser was in negotiations for a consulting role at Barclays.

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