Global market maker Getco today announced that Daniel Coleman has been named chief executive officer, effective immediately.
Coleman assumes the role of CEO after serving as the firm's global head of equities and client services. Coleman was appointed CEO by Co-Founders Stephen Schuler and Dan Tierney, who will continue to serve on GETCO's Board of Directors, with Schuler assuming the newly created role of executive director.
"In 2010, we were fortunate enough to bring Daniel Coleman to GETCO," said Stephen Schuler, co-founder and executive director. "We had a sense that he might be the right person to lead us into the next phase of our evolution, and we are pleased to see our instincts borne out. Since joining GETCO, Daniel's leadership and insights have greatly contributed to our continued growth, success, and most importantly, our culture."
"Daniel is perfectly aligned with our long-term vision of utilizing technology to transform how investors transfer risk," said GETCO Co-Founder Dan Tierney. "His unique combination of professional experiences, leadership ability and business acumen make him the ideal leader for the next stage of our growth."
"When I joined GETCO, I was on a personal mission to find a firm that was at the forefront of trading and technology, as well as focused on improving the markets for all investors," Coleman said. "Stephen and Dan built an amazing firm that has been a catalyst for positive change in the financial markets for the last 12 years. GETCO's Associates are some of the most passionate and talented professionals I have had the pleasure of working with, and I look forward to building upon this tradition of excellence and innovation."
As CEO, Coleman will focus on enhancing the firm's core market-making business and continuing to expand the firm's client services offerings in the U.S. and abroad. In his previous role as global head of equities and client services, Coleman oversaw the firm's equities market-making operations and client-facing businesses, including GETCO Execution Services (GES), GES Europe and GETCO's NYSE Designated Market Maker (NYSE DMM). Under his leadership, GETCO acquired Banc of America Specialists, Inc., which significantly grew GETCO's NYSE DMM business as well as Automat, a London-based trading firm focused on currencies. GETCO is now the second largest DMM at NYSE with more than 850 listing assignments
Coleman has more than 25 years of experience in trading and financial services, including leadership positions with multiple global organizations. Prior to GETCO, Coleman served as global head of equities for UBS and served on its investment bank's Executive Committee, as well as the UBS Ag's Group Managing Board. Coleman began his career at O'Connor & Associates, a trading firm focused on equity options market making that later became part of Swiss Bank Corporation.