JPMorgan MD off to 'clean up the mess'

Messy Desk

Frank Troise is heading back to Investment Technology Group with a mission: Clean up the mess that led to a record fine and a 40% slide in the broker’s share price.

Bloomberg News reports that Troise, who had been a managing director at JPMorgan since 2010, was named ITG’s next chief executive officer and president on October 19.

He is expected to start in January at the firm where he worked from 1997 to 2005. Troise will have to re-establish ITG as a perceived safe haven for asset managers, a reputation shredded by a summer of executive upheaval and a high-profile settlement with the Securities and Exchange Commission.

As he works to rebuild that trust, Troise’s first challenge will be to show the firm has transformed a culture that led to the creation of the secret proprietary trading desk at the heart of the SEC’s case. 

To access the complete Bloomberg News article hit the link below:

JPMorgan's Troise Faces Job of Rehabilitating Broker ITG

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