The former CEO of a stock exchange behemoth to chair board of a Virtu Financial

caption
Former Nasdaq CEO, Robert Greifeld.
source
Thomson Reuters

Former Nasdaq CEO Robert Greifeld will become chairman of the board of Virtu Financial, a high-frequency trading firm after completes its $1.4 billion takeover of rival KCG Holdings Inc .

Greifeld stepped down as CEO of Nasdaq on Jan. 1 after running the exchange operator since 2003 and transforming it into a more diversified, transatlantic exchange operator. He stepped down as chairman of the stock exchange operator on May 10, according to a news release. Michael Splinter, the cofounder of of WISC Partners, was elected by Nasdaq stockholders to replace Greifeld.

Greifeld will take over from current chairman and Virtu founder Vincent Viola. The company disclosed the move in a regulatory filing on May 31.

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.

Viola, a former chairman of the New York Mercantile Exchange, had been nominated by U.S. President Donald Trump to be secretary of the Army, but withdrew his name from consideration in February due to potential conflicts related to his businesses.

Along with Virtu CEO Douglas Cifu, Viola bought the Florida Panthers of the U.S. National Hockey League in 2013.