AP News

Knight Capital gives CFO additional duties


JERSEY CITY, N.J. (AP) — Knight Capital Group Inc. said Thursday that chief financial officer Steven Bisgay has also taken on the role of chief operating officer.

Bisgay has been CFO of the brokerage since August 2007.

The move comes the month after Knight barely survived a disastrous software glitch that caused it to lose $400 million, forcing it to cede control of its operations in exchange for a financial rescue by Wall Street firms.

Bisgay's brief will include all financial and operational facets of the firm, including accounting, finance, treasury, risk management, operations, technology, human resources, business development and investor relations.

In other personnel changes, 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.

The company, based in Jersey City, also said it is searching for a chief technology officer as part of a continuing review of its technology operations.

Knight Capital shares fell 2 cents to $2.57 on Thursday. The stock was trading above $10 a share in early August before the trading glitch occurred.


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