Knight Board Elects Thomas M. Joyce as Chairman
17 December 2004 - 6:00AM
PR Newswire (US)
Knight Board Elects Thomas M. Joyce as Chairman JERSEY CITY, N.J.,
Dec. 16 /PRNewswire-FirstCall/ -- Knight Trading Group
(NASDAQ:NITE) today announced that its Board of Directors
unanimously elected Thomas M. Joyce, 49, Chief Executive Officer
and President of the company, to the additional position of
Chairman of the Board. He will replace Charles V. Doherty, 70, who
will remain on the board in the new position of lead director. The
decision was made at yesterday's board meeting. The elections will
take effect on January 1, 2005. "We are pleased to announce the
election of Tom Joyce as the Chairman of the Board of Directors,"
said Chairman Doherty. "Tom brought his client- focused philosophy,
his integrity, and his reputation in the industry as a
well-respected leader to Knight. In his capacity as the CEO and
President of Knight, he has earned the trust of this board. His
sound judgment and sterling ethics have solidified our confidence
that he is the man we want in charge of shaping our strategic
direction. This board is pleased to affirm that Knight speaks as a
single voice through Tom Joyce." Mr. Doherty has served on the
Board since Knight's initial public offering and was elected to
non-executive Chairman in February 2002. "I am deeply honored to be
elected to the additional role of Chairman, and to accept the
responsibilities that come with the position. I thank the Board for
this opportunity and their continued confidence in my abilities,"
said Mr. Joyce. "I salute Chuck for his energy and vision and look
forward to working with him as lead director as this board
continues to focus on 'best practice' governance issues." Mr. Joyce
joined Knight Trading Group in May 2002 from Sanford C. Bernstein
& Co. Prior to his appointment as Sanford Bernstein's Global
Head of Trading at the close of 2001, Mr. Joyce spent more than a
decade managing several major equity businesses for Merrill Lynch
& Co. There, he directed the firm's market structure efforts
and initiatives with the Securities and Exchange Commission, New
York Stock Exchange and NASD, and was involved in many of Merrill
Lynch's equity business investments, including the acquisition of
Herzog Heine Geduld in 2000. Mr. Joyce has been a member of the
NASDAQ Board of Directors, the Archipelago Board of Directors, the
Partner's Committee of Primex Trading and of the Security Industry
Association's Market Structure Committee. He served as Chairman of
NASDAQ's Quality of Markets Committee in 1999 and 2000, and he is a
former member of NYSE's Market Performance Committee and of the
Merrill Lynch Europe Executive Committee. Knight is focused on
meeting the needs of institutional and broker-dealer clients by
providing comprehensive trade execution services in equities. A
leading trade execution specialist, Knight offers capital
commitment and access to a deep pool of liquidity across the depth
and breadth of the equity market. Knight also operates an asset
management business for institutions and high net worth
individuals. To be a valued partner, Knight strives to provide
superior client service and will continue to tailor its offering to
meet the needs of its clients. More information about Knight can be
obtained at http://www.knight.com/. Certain statements contained
herein constitute "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on current expectations,
estimates and projections about the Company's industry,
management's beliefs and certain assumptions made by management.
Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict.
Since such statements involve risks and uncertainties, the actual
results and performance of the Company may turn out to be
materially different from the results expressed or implied by such
forward-looking statements. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions
to the forward-looking statements made herein; however, readers
should carefully review reports or documents the Company files from
time to time with the Securities and Exchange Commission.
DATASOURCE: Knight Trading Group CONTACT: Margaret Wyrwas, Senior
Managing Director, Corporate Communications & Investor
Relations, +1-201-557-6954, , or Kara Fitzsimmons, Vice President,
Corporate Communications, +1-201-356-1523, , or Greta Morley,
Assistant Vice President, Marketing Communications & Public
Relations, +1-201-557-6948, , or Molly McDowell, Analyst, Corporate
Communications & Investor Relations, +1-201-356-1723, , all of
Knight Trading Group Web site: http://www.knight.com/
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