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Virtu Financial has appointed its longtime Chief Technology Officer Aaron Simons as the company's new Chief Executive Officer, succeeding co-founder Douglas Cifu, who will retire from the role and remain as an advisor.
The New York-based market maker announced that Simons, who previously served as Executive Vice President and Chief Technology Officer, will also join the company's Board of Directors. Simons joined Virtu in 2008 after completing postdoctoral research in theoretical physics and has worked across trading and technology within the firm.
As CTO, Simons oversaw all technology and infrastructure, including the post-merger technology integrations following Virtu's acquisitions of KCG and ITG, which significantly expanded the firm's footprint in global market making and execution services.
Cifu, who co-founded Virtu, helped guide the company from its founding through the acquisition of Madison Tyler, its initial public offering in 2015, and subsequent major acquisitions. The leadership transition comes as Virtu continues to operate as a leading provider of multi-asset financial services across global markets.
Vincent Viola, Virtu Financial Co-Founder
"For nearly 20 years, Doug has been an indispensable partner, trusted advisor, and steadfast leader," said Virtu Financial Co-Founder and Chairman Emeritus Vincent Viola. "His contributions helped shape the foundation and future of our firm. I'm deeply grateful for his loyalty, friendship, and unwavering belief in our shared vision. Doug's legacy will endure in the values he championed and the many people he mentored along the way. It has been a true privilege to share this journey with him, and I wish him nothing but fulfilment and joy in this next chapter."
Michael Viola, Chairman of Virtu Financial, praised the outgoing CEO's tenure: "On behalf of the Board, I want to thank Doug for his extraordinary leadership and countless contributions to the firm. It has been a privilege to work with Doug, whose leadership, integrity, and passion for Virtu have left an indelible mark. Thanks to Doug, the firm is stronger than ever and well-positioned for continued growth with a clear strategy forward."
The Chairman expressed confidence in the leadership transition, noting: "Having worked closely with Aaron for over a decade in his role as Chief Technology Officer, the Board is confident that he possesses the leadership, judgement, and vision to build on our momentum. This transition reflects the strength of our internal talent and long-term planning. We are excited for Aaron and look forward to supporting him as he leads Virtu into the future."
Reflecting on his tenure, Doug Cifu, CEO of Virtu Financial said: "It has been the privilege of my career to lead and to serve among and alongside my great colleagues at Virtu and to be a part of its spectacular growth. I can't thank my partner, Vincent Viola, enough for allowing me this opportunity. Over the past 18 years, together we have built a special firm and grown it into one of the leading global market making and execution services providers. The talent, integrity, and passion of our team give me confidence that Virtu's best days are still ahead as it continues to grow."
The incoming CEO acknowledged his predecessor's legacy: "It's an honour to follow Doug, whose leadership has positioned Virtu for long-term success. I am grateful for the trust placed in me by the Board and for the strong foundation Doug helped us create. Our strategic direction is clear, and I am excited about what we can accomplish together in the years ahead."
Virtu is a leading provider of financial services and products that leverages technology to deliver liquidity to global markets. The company provides execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms, allowing clients to trade on hundreds of venues across more than 50 countries in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income and commodities.
