KCG's head of ETF trading has just landed a new senior trading job

The KCG Holdings diaspora keep landing new jobs. After the London bloodbath following the $1.4bn merger with rival high frequency trader Virtu Financial in April, senior staff have been landing new jobs across the City.

The latest to bag a new role is Paul Bermingham, the head of ETF European trading at KCG Holdings in London. He’s just joined Susquehanna International Group (SIG) as a senior trader.

Bermingham started out as an ETF trader at SIG in 2007 and has focused on ETFs throughout his career. He has worked at Credit Suisse, as an ETF strategist, and was also formerly head portfolio manager at rival HFT, Tower Research Capital.

He was one of a group of senior electronic trading specialists ousted from KCG Holdings following its high-profile merger with Virtu, after the firm decided to move its market-making business to its European office in Dublin.

Robert Crane, the former head of electronic market making at Goldman Sachs who joined KCG as head of European client execution in 2015, has since been hired by HSBC as global head of cash execution. Graham Wayne, the former head of EU electronic trading, joined Barclays last months as a managing director within its electronic equities product group. Ivan Gilmore, another former Goldmanite who was head of exchange-traded fund sales trading at KCG, also left in June but has yet to land elsewhere.

Meanwhile, KCG’s senior technology team are also moving on. Andy Schneider, the former head of prop trading technology, is now chief technology officer at trading firm Epoch Capital. Mike Blum, KCG’s chief technology officer, was hired by Goldman Sachs as a partner and CTO for its electronic trading unit.

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