'I leave with my heart full and head held high': A senior exec at trading technology firm ITG is out

LinkedIn
  • Jamie Selway, formerly US head of execution services at ITG, announced his departure from the company.
  • “I leave with my heart full and head held high,” Selway said in a tweet.

A senior executive at trading technology firm Investment Technology Group (ITG) has left after more than seven years with the company.

Jamie Selway, formerly ITG’s US head of execution services, announced his departure on Friday in a tweet, saying “I leave with my heart full and head held high.”

“To clients, industry colleagues, and friends, I wish you well – and will see you soon,” he added.

An ITG spokesperson confirmed that Selway left the firm.

Selway, who joined ITG in 2010, was reportedly a contender to lead the division of the Securities and Exchange Commission overseeing market structure. Brett Redfearn, previously head of market structure at JPMorgan, was tapped for that position in November, Business Insider previously reported.

Prior to joining ITG, Selway cofounded White Cap Trading, an agency broker, in 2003. He also served on the board of directors at Bats, the exchange-operator acquired by Cboe, from 2008 to 2015.

Selway was featured in Institutional Investors’ 2015 and 2014 Trading Technology 40 list. Selway, according to II, built “a career around what he terms ‘applied market structure’ and, for himself, a reputation as one of the leading interpreters of ‘dense, esoteric material,’ important to the investment community.”

ITG provides trading technologies to brokers and asset managers, reaching clients in 50 countries, according to its website.

In 2015, the company paid a more than $US20 million settlement to the Securities and Exchange Commission. The regulator accused ITG of betting against clients, despite having said it would not do so, in a pilot program known as “Project Omega.”

Selway, according to a report by the Wall Street Journal, brought evidence of another executive’s involvement in the program to internal company lawyers in 2010. Outside lawyers were later brought in to review the program.

Robert Gasser, who was chief executive of the company from 2006 to 2015, was fired after the external investigation found he kept information from ITG’s board, the Journal reported.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.