UPDATE 1-BATS names new chief information officer, U.S. markets head

Wed Feb 5, 2014 10:15am EST

By John McCrank

NEW YORK Feb 5 (Reuters) - BATS Global Markets, which closed its merger with Direct Edge at the end of last week to form the No. 2 U.S. stock market, on Wednesday named its former chief operating officer as chief information officer and Direct Edge's former COO as head of its U.S. markets.

Chris Isaacson, as the new CIO, will lead the effort to move Direct Edge onto BATS' technology platform, while Bryan Harkins will be in charge of setting market strategy, pricing, product development and sales in the U.S. markets.

Both will also be executive vice presidents.

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.

Isaacson remains responsible for all technical and market operations.

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 will remain as chief financial officer, Tami Schademann will stay on as chief regulatory officer, and Eric Swanson will continue to be the general counsel.

Ratterman said he would personally be spending much of his time focusing on BATS' equity and debt investors, as well as federal regulators in Washington.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.