Gary Katcher, executive vice president and head of global institutional fixed-income at Knight Capital Group, has resigned from his position, the Jersey City-based firm said in a statement today.
Katcher, whose departure is effective July 31, joined Knight Capital in July 2008 when the firm acquired Libertas Holdings, renamed Knight Libertas. In the July 22 statement, the firm said that Executive Vice President James Smyth would assume Katcher's responsibilities on an interim basis while a search for a replacement is conducted.
The statement said that Katcher founded Knight Libertas, which provides trade execution services and investment research to institutions across a broad range of fixed-income securities.
"Gary is one of our industry¹s leading entrepreneurs who built a tremendous fixed-income business at Knight, significantly expanding our offerings across product classes within institutional fixed-income," Thomas Joyce, chairman and CEO at the financial services firm, said in the statement."Based on his track record of success, we expect that Gary will capitalize on the many opportunities that will come his way."
Katcher noted that the fixed-income operations at Knight Capital are on solid ground. "I have assembled a great team and Knight now has the right people and products in place to continue to grow as market conditions improve," he said. "This has been a great experience for me. I now look forward to the next challenge in my career."
Kara Fitzsimmons, spokeswoman for Knight Capital, declined to comment further on Katcher's resignation.