Knight Capital Adds Three New Board Members, More Adult Supervision

Banking, finance, and taxes

Published: August 28, 2012 8:40 am

Last Updated: April 28, 2020 12:31 am

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

Credit Card Companies Are Doing Something Nuts

Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.

It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.

We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.