Mr. Troise brings extensive experience in electronic trading to ITG. From 2010 until October 2015, Mr. Troise was a managing director at J.P. Morgan, most recently serving as head of J.P. Morgan Execution Services, a global multi-asset electronic execution group within the investment bank.
ITG (NYSE:ITG), an independent execution broker and research provider, today announced that Francis J. Troise has been appointed as ITG’s Chief Executive Officer and President. Mr. Troise will also become a member of the ITG Board of Directors. These appointments will become effective upon Mr. Troise’s satisfaction of certain “garden leave” obligations he has to his current employer, which are expected to expire in January 2016.
Maureen O’Hara, Chair of the Board of Directors, said, “After a thorough and careful search process, the ITG Board chose Frank as the right candidate to lead ITG at this pivotal time. Frank brings extensive experience in vision, strategy, and delivery. He is a well-known industry expert with an impressive track record of growing electronic trading operations, establishing strong client relationships, and building and leading talented teams.”
Ms. O’Hara added, “The Board would also like to thank fellow ITG Board member Jarrett Lilien for his service as interim CEO and President. Jarrett’s leadership has played an important part in putting ITG on the road to recovery and establishing the positive business momentum we have seen so far this quarter.”
Also commenting on Mr. Troise’s appointment, Jarrett Lilien said, “I look forward to joining my Board colleagues and all of the members of ITG’s team in welcoming Frank in the new year.”
Prior to J.P. Morgan, he was global head of electronic trading at Barclays Capital and head of U.S. electronic execution at Lehman Brothers. Before joining Lehman Brothers, Troise spent eight years at ITG, where his duties included serving as managing director in charge of client site sales and trading. Prior to ITG, Troise worked in management consulting roles at Booz Allen and Accenture. He has also served as a director on a number of boards, including BIDS Holdings, Chi-X Global Holdings and Neovest.
Commenting on his appointment, Mr. Troise said, “I am thrilled to be returning to ITG, a firm which I know first-hand is relentlessly focused on providing world-class customer service and best execution. I look forward to building on the achievements of the past 28 years as we reaffirm our position as an industry leader in innovation and a key partner to the institutional investment community.”
For the official announcement, click here.