Investment Technology Group, Inc. (NYSE:ITG), a leading provider of technology-based equity trading and transaction research services to institutional investors, today announced that Timothy Jones has been appointed to its board of directors.
"We are delighted to have Timothy join the Board," stated Ray Killian, ITG's Chairman, President and CEO. "Tim's experience and credentials are a significant addition to the board, particularly with regard to our international initiatives."
From December 2002 to January 2005, Mr. Jones was the Chief Executive Officer of Simpay Limited, a new mobile payments initiative, and is now an advisor to the firm. He has also served as a non-executive Director of Capital One Bank (Europe) PLC since May 2003. Mr. Jones co-founded Purseus, a company developing a new architecture for correspondent banking and served as its Chief Executive Officer from April 2000 to November 2002. Prior to that, for 17 years Mr. Jones was at National Westminster Bank PLC where he held various positions in the Operations, Information Technology Strategy and Policy, Mondex, Electronic Markets and Retail Banking Services divisions, eventually becoming a Managing Director in 1996 and Chief Executive of the retail banking division in 1999.
"I am excited to be a member of ITG's board and look forward to working with ITG management to grow the business internationally and increase shareholder value," stated Mr. Jones.
At the same time, ITG is announcing the retirement of Mark Wolfson from the board of directors. "Mark has been a valued member of ITG's board for ten years and we would like to thank him for his dedication and service," stated Mr. Killian.
ITG Europe, the technology-based equity trading services group, also announced today that it has appointed David Stevens as sales director.
ITG Europe, which operates POSIT® – the intraday equities crossing system – and offers a range of transaction analysis tools such as TCA®, said Stevens will assume his new position on 7 March 2005.
Stevens was a Managing Director at JP Morgan, heading up pan-European sales globally. Prior to that he spent six years at Goldman Sachs, most recently as an Executive Director in charge of pan-European sales to UK institutions.
Stevens takes on a newly created role reporting directly to ITG Europe's CEO Alasdair Haynes. His remit is to oversee the distribution of the Company's sales trading activities, client site products and research services.
Commenting on the appointment, Alasdair Haynes, said: "This appointment comes after six years of strong growth for ITG Europe and just as our acquisition of E-Crossnet has been completed, thus consolidating POSIT's position as Europe's leading crossing system. We are now entering a new phase of our development where we want our capabilities in transaction cost analysis, algorithmic trading and direct market access to gain the same market penetration and stature that POSIT has. I am delighted to have someone of David's calibre and track record on board to lead this process."
David Stevens added: "I am attracted by the company's growth potential and entrepreneurial ethos. ITG Europe is superbly positioned to take advantage of the changes occurring in the industry through its focus on best execution, its technological leadership and its lack of conflicts of interest."
Stephens, 38, is a chartered accountant and spent the first five years of his career at Ernst & Young. He was educated at Belfast Royal Academy and Edinburgh University.