ITG Names Minder Cheng Chairman of Board of Directors
Frank Troise officially takes over as CEO, president and member of the board of directors.
Cheng has served as a director since November 2010 and currently serves as chairman of the board of directors at MediaCrossing Inc., a digital media agency; a senior advisor at Executive Networks, a peer network provider; and an advisor at Armanta Inc., an enterprise software provider.
He also served as chief investment officer for BlackRock's index equity and capital markets business from December 2009 to July 2010. Before that, he spent 10 years with Barclays Global Investors.
In addition to Cheng's appointment, Frank Troise has officially joined the firm as CEO, president and member of the board of directors. Troise takes over for Jarrett Lilien, who was serving as the interim CEO. Troise's appointment was initially announced back in October.
The shake-ups across the executive board for ITG come five months after the firm paid over $20 million in fines to the US Securities and Exchange Commission (SEC) after the regulators performed an inquiry on a proprietary trading pilot program the firm ran for 16 months.
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