Citi hires Knight Capital’s head of equities after 18 months out
The former head of European equity trading at Knight Capital has re-emerged at Citigroup after 18 months out of the industry.
Trevor Gill has been recruited as a cash equities trader covering the financial and insurance sector at Citigroup, a role he started earlier this month. Before this, he was head of European institutional equity trading at Knight Capital’s London office. He left this position in October 2012 and has not held another FCA-authorised position since this time.
In August 2012, Knight Capital unveiled a stunning $440m loss following a computer-trading glitch. Software was accidentally released into a live environment, which prompted the algorithm to enter millions of faulty trades within an hour. In the immediate aftermath, the firm raised $400m from six investors, with investment bank Jefferies eventually becoming its largest shareholder. However, it was later acquired by rival e-trading firm Getco in December 2012 in a $1.4bn deal.
Knight Capital unveiled plans to cut 5% of its staff last year and its UK employees have been affected. In January 2013, it had 107 FCA approved staff, a figure that has since shrunk to just 56.
Gill started his financial services career working at Credit Suisse, eventually rising to head its technology trading team. He left the bank in 2003 and worked in commercial property acquisitions at DTZ, but left in 2007 to join Knight Capital.
He has a degree in property economics from Trinity College, Dublin.