Global market maker GETCO, which also specializes in high-frequency trading, said it promoted Daniel Coleman to chief executive, a move the firm contends positions it for its next stage of growth.
Coleman had previously worked as GETCO’s global head of equities and client services, but he’ll now be tasked with enhancing the firm’s core market-making business, while continuing to grow its client service offerings both in the U.S. and overseas, the company said.
In his old role, Colemen oversaw GETCO Execution Services (GES), GES Europe and the company’s designated market making unit at the New York Stock Exchange. The firm is now the second-largest DMM on the NYSE with more than 850 listing assignments.
“Daniel is perfectly aligned with our long-term vision of utilizing technology to transform how investors transfer risk,” GETCO co-founder Dan Tierney said in a statement.