July 20, 2017 / 3:25 PM / 2 years ago

MOVES-KCG electronic trading head Tusar exits firm as Virtu closes deal

NEW YORK, July 20 (Reuters) - Greg Tusar, an electronic trading pioneer, confirmed that he left KCG Holdings Inc upon the closing of the firm’s $1.4 billion takeover by rival Virtu Financial Inc on Thursday.

Tusar was head of electronic execution and platforms at KCG, responsible for sales, products and platforms globally. He joined KCG in 2013 after 13 years at Goldman Sachs, where he was partner and head of electronic equities trading.

The 47-year-old said he planned to spend some time tending to his small Bernardsville, New Jersey-based family farm, which has apple orchards and bees, while he decides what do next.

Virtu, which announced in April that it would buy rival KCG, bringing together two of the largest U.S. electronic trading and market-making firms, declined to comment.

Tusar was eligible for $6.9 million in cash and stock upon termination of his position, according to a KCG regulatory filing dated June 28. (Reporting by John McCrank; Editing by Bernard Orr)

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