BATS names Isaacson CIO, Harkins head of U.S. markets
NEW YORK Feb 5 (Reuters) - BATS Global Markets, which closed it merger with Direct Edge at the end of last week to form the No. 2 U.S. stock market, on Wednesday named Chris Isaacson as chief information officer and named Bryan Harkins as head of U.S. markets.
Isaacson has been chief operating officer at BATS, and Harkins was COO at Direct Edge. Both will also be executive vice presidents, with Isaacson leading the effort to move Direct Edge onto BATS' technology platform, and Harkins in charge of setting market strategy, pricing, product development and sales in the U.S. markets.
BATS will not have a chief operating officer going forward. Bill O'Brien, the new president who was chief executive of Direct Edge, will effectively fill that role, Joe Ratterman, BATS' chief executive officer, said in an interview.
The combined company has 160 employees from BATS and 135 from Direct Edge. Ratterman said there will be staff reductions, but the extent was not yet clear.
BATS, which leapt ahead of Nasdaq OMX Group in U.S. equities market share with the merger and sits just behind IntercontinentalExchange Group's NYSE unit, said Mark Hemsley will remain chief executive of BATS Chi-X Europe.
Jeromee Johnson will remain in charge of developing the company's options market. BATS is considering opening a second options market at some point in 2015, Reuters reported on Monday.
Brian Schell remains chief financial officer, Tami Schademann remains chief regulatory officer, and Eric Swanson remains general counsel.
Ratterman said he would personally be spending much of his time focusing on BATS' equity and debt investors, as well as regulators in Washington, D.C.