Direct Edge announced today that it has hired Thomas McManus as Chief Compliance and Regulatory Officer.
In his role, Mr. McManus will be responsible for the fulfillment of Direct Edge's compliance and regulatory obligations, which include the operation of the EDGA and EDGX Exchanges, of which he will serve as Chief Regulatory Officer, as well as the company's routing broker-dealer. He will report directly to Chief Executive Officer William O'Brien and begin his employment with the company on July 11, 2011.
"Maintaining a strong culture of compliance is essential for any company that wants to provide value to its customers on an enduring basis, and this is especially true for exchange operators," said Mr. O'Brien. "I am honored to have Tom join Direct Edge's executive team, and have the utmost confidence that his knowledge, dedication, and character will positively impact Direct Edge from day one and help our company continue on an upward trajectory of success and innovation."
"I am excited to have the opportunity to join a game-changing organization whose dedication and success in providing the trading community with the innovation needed to stay competitive is undeniable," said Mr. McManus. "In the last few years, Direct Edge has evolved from ECN to full-fledged exchange-an immense technological and regulatory transformation -and I am ready to contribute and help ensure Direct Edge fulfills both the letter and the spirit of its compliance obligations as the company continues to grow."
In joining Direct Edge, Mr. McManus is departing his role as the Head of Compliance, Americas for Barclays Capital, the investment banking division of Barclays Bank plc, as well as the Chief Compliance Officer of Barclays Capital Inc. and Global Head of Compliance for Barclays Capital's Equities and Prime Services divisions.
Prior to joining Barclays Capital in 2009, Mr. McManus was a Partner with Morgan, Lewis & Bockius LLP in New York. Prior to that, he was with Morgan Stanley & Co. Inc. for nearly 11 years, serving as Managing Director and Cnd Counsel responsible for their Institutional Equity and Prime Brokerage divisions.
Mr. McManus began his career as an attorney with the SEC's Division of Market Regulation (now the Division of Trading and Markets) in Washington, D.C., and followed that with a position as Associate with Orrick, Herrington & Sutcliffe LLP in New York.
Mr. McManus has served on FINRA's Compliance Advisory Committee, and as Chairman of FINRA's Market Regulation Committee. He has also been an active member of SIFMA/SIA since 1994, having served on numerous committees and subcommittees, including most recently the Compliance and Regulatory Policy Committee.
Mr. McManus received his J.D., summa cum laude, from The American University, and his B.A. in Economics from Boston College.