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Banking, finance, and taxes

Knight Capital Adds Three New Board Members, More Adult Supervision

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By Jon C. Ogg Updated Published
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Knight Capital Group Inc. (NYSE: KCG) has decided to bring on three new board members for oversight now that it has been bailed out. Let’s just call this more adult supervision. The market making and trading firm has named Martin Brand, Matthew Nimetz and Fred Tomczyk to the board of directors, effective as of yesterday.

Here is a brief note on each new director:

  • Brand is a managing director at The Blackstone Group L.P. (NYSE: BX).
  • Nimetz is an advisory director at General Atlantic and is an advisor, investor, executive and lawyer.
  • Tomczyk is president and chief executive officer of TD Ameritrade Holding Corp. (NYSE: AMTD).

Knight Capital Group will now have 10 members on its board of directors. Today’s news is probably not much of a surprise, but you have to wonder why it took this long to announce new board members after the Knight Capital trading debacle.

Knight shares are up marginally but almost not enough to notice this morning at $2.79 versus a $2.78 close on Monday.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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