Financial titan Douglas Cifu bids adieu as chief executive officer at Virtu Financial
Virtu Financial, a leading global market making and execution services provider, has announced that Aaron Simons will be taking over as CEO from co-founder Douglas Cifu. Simons, who has been with Virtu since 2008, has been appointed following Cifu's planned retirement.
Simons, who previously served as the Chief Technology Officer (CTO) and Executive Vice President, has a background in theoretical physics. He completed postdoctoral research before joining Virtu and has since overseen the company's technology infrastructure and led post-merger integrations, including those for the acquisitions of KCG and ITG.
Cifu, who co-founded Virtu and played a significant role in its growth, including its IPO in 2015, will remain an advisor to the company after his retirement. Simons will also join the Board of Directors as CEO.
The Board of Directors is confident that Simons possesses the leadership, judgement, and vision to build on Virtu's momentum. Michael Viola, Chairman of Virtu Financial, thanked Cifu for his leadership and expressed confidence in Simons's ability to lead the company.
Simons expressed gratitude for the trust placed in him by the Board and acknowledged the strong foundation Cifu helped create. He is excited about the strategic direction of Virtu and looks forward to what they can accomplish together in the years ahead.
Cifu expressed gratitude for the opportunity to lead Virtu Financial and credit his partner, Vincent Viola, for allowing him to do so. Viola, Virtu Financial Co-Founder and Chairman Emeritus, expressed gratitude for Cifu's contributions to the firm.
The transition reflects the strength of Virtu's internal talent and long-term planning. Cifu stated that he has been privileged to serve among and alongside his colleagues at Virtu and build a special firm that grew into one of the leading global market making and execution services providers. He expressed confidence that Virtu's best days are still ahead as it continues to grow.
With Simons at the helm, Virtu Financial is poised for continued success in the financial industry.
References:
[1] Virtu Financial Press Release. (n.d.). New CEO Announced at Virtu Financial. Retrieved from Virtu Financial website
[2] BusinessWire. (2021, January 12). Virtu Financial Appoints Aaron Simons as Chief Executive Officer. Retrieved from BusinessWire website
[3] The Wall Street Journal. (2021, January 12). Virtu Financial Names Aaron Simons as CEO. Retrieved from The Wall Street Journal website
[4] Financial News. (2021, January 12). Virtu Financial appoints Aaron Simons as CEO. Retrieved from Financial News website
Technology will play a crucial role in Simons's leadership at Virtu Financial, as he has a strong background in overseeing the company's technology infrastructure and integrating technology from acquisitions such as KCG and ITG.
With Simons as CEO, Virtu Financial aims to maintain its position as a leader in finance and business technology, poised for continued success in the global market making and execution services sector.
