Knight Capital Create CRO Position for Managing Director Brian Strauss
Posted: 25 September 2012 | Source: Knight Capital Group
Managing Director Brian Strauss was promoted to the newly-created position of Chief Risk Officer with global responsibility for credit, market and operational risk management. Mr. Strauss joined Knight in August 2009 and was named Chief Credit Officer in October 2010. In that role, he oversaw the buildout and enhancement of the firm's credit control infrastructure. He will report to Mr. Bisgay.
"Brian brings a disciplined approach to risk management that speaks to the depth of his experience," said Mr. Bisgay. "He is highly regarded within the capital markets risk community. Since joining Knight, he's made a clear impact through building an effective team, instituting global risk management systems and advancing the firm's handling of credit risk."
As part of a continuing review of technology operations, Knight has initiated an internal and external search for a Chief Technology Officer to report to Mr. Bisgay. During the search process, Managing Director Michael Tobin, a 12-year veteran of Knight, will serve as interim CTO. Knight has also begun an external search for an Operational and Technology Risk Manager to report to Mr. Strauss.
In addition, Executive Vice President Steven Sadoff will transition to building the firm's correspondent clearing, prime brokerage and futures businesses from overseeing operations, services and technology.
"Steven Sadoff has led several critical initiatives at Knight including the buildout of Knight's trading floor technology, networking infrastructure and clearing operations," said Mr. Joyce. "I'm excited about Knight's clearing-focused initiatives, which I've asked Steve to lead, as they leverage Knight's execution capabilities to expand our client offering."