Virtu Financial is about to get a new Chairman.
And that Chairman is Robert Greifeld. The former CEO of exchange operator Nasdaq is set to assume command at Virtu once its $1.4 billion acquisition of KCG Holdings in completed, according to a regulatory filing dated May 31.
According to Reuters, Greifeld, along with Silver Lake co-founder Glenn Hutchins, joined forces with Singapore's GIC and Temasek and Canada's Public Sector Pension Investment Board to buy a combined $750 million of new Virtu stock as part of the firm's deal to buy KCG. Hutchins will also join Virtu's board.
Greifeld left the U.S.’ number two exchange this past January after spending 14 years there. Under his direction, Nasdaq became a more diversified business, moving away from a pure trading cash revenue stream to electronic market data and technology business.
The exchange operator along with its Board of Directors named Adena Friedman to replace Greifeld as CEO, and she also joined its Board of Directors, effective January 1, 2017.
Bob Greifeld will remain Chairman of the Nasdaq Board. He replaced Chairman Borje Ekholm who relinquished the top role of Chairman on December 31, 2016.