KCG appoints former BoA Merrill Lynch senior executive as new CFO

KCG Holdings, Inc. (NYSE: KCG) today 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.

Commenting on Mr. Parratt’s appointment, Daniel Coleman, KCG’s Chief Executive Officer said, “Steffen’s unique skillset at the intersection of finance, strategy and technology will be instrumental beyond the boundaries of a traditional financial services officer – he will also influence KCG’s business, balancing strategic initiatives with detail oriented and efficient processes. His experience in leveraging technology and operational expertise to expand revenue and profits within complex organizations in the sector make him a great fit for KCG.”

Mr. Coleman continued, “I would like to thank Sean for taking on increased responsibility during our recent transition.  We value his contributions highly, and he has provided excellent leadership to our accounting and finance teams during this period.”

Mr. Parratt said: “KCG represents a new model for the industry, and I believe the firm has only begun to realize its full potential. I am excited to get to know not only the finance team, but the entire organization as we kick off 2015.”

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. Mr. Parratt received an M.B.A. in Finance from The Wharton School.  He received a Ph.D. and M.Sc. in Engineering from Cornell University.  He earned his B.Sc. in Mechanical Engineering and a M.Sc. in Electrical Engineering from the University of Rochester.

For the official announcement from KCG, click here.

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