ITG just dealt a major blow to JPMorgan’s electronic equities trading desk by luring one of its top and longest running executives to head up its operations.
The independent execution broker and research provider, today announced that Frank Troise has been appointed as ITG’s Chief Executive Officer and President. Troise will also become a member of the ITG Board of Directors.
According to ITG, these appointments will become effective upon Troise’s satisfaction of certain “garden leave” obligations he has to his current employer, which are expected to expire in January 2016.
Maureen O’Hara, Chair of the Board of Directors, said, “After a thorough and careful search process, the ITG Board chose Frank as the right candidate to lead ITG at this pivotal time. Frank brings extensive experience in vision, strategy, and delivery. He is a well-known industry expert with an impressive track record of growing electronic trading operations, establishing strong client relationships, and building and leading talented teams.”
Troise is no stranger to the electronic trading world. He brings extensive experience in electronic trading to ITG. From 2010 until October 2015, Troise was a managing director at J.P. Morgan, most recently serving as head of J.P. Morgan Execution Services, its global multi-asset electronic execution group within the investment bank. Prior to J.P. Morgan, he was global head of electronic trading at Barclays Capital and head of U.S. electronic execution at Lehman Brothers.
Before joining Lehman Brothers, Troise spent eight years at ITG, where his duties included serving as managing director in charge of client site sales and trading. Prior to ITG, Troise worked in management consulting roles at Booz Allen and Accenture. He has also served as a director on a number of boards, including BIDS Holdings, Chi-X Global Holdings and Neovest.
