opportunity squandered - Anonymous employee KCG Employee Review

People really care about teamwork and help each other.

Was unclear what to do as an intern

KCG is the company that resulted from the takeover of Knight by Getco in the wake of the notorious computer glitch of August 1, 2013, that caused Knight to lose approximately half a billion dollars in a matter of about 20 minutes. Although KCG did not retain most of Knight's senior management, it has retained most of its key producers in its market-making and proprietary trading units. To the extent that KCG retains its Knight DNA, (i.e., its personnel, approach and commitment to client service), the company should do fine. It has divested itself of several peripheral business lines, refocused on its core trading businesses and has global aspirations.

Of the 12 managers chosen to report to the new CEO, (formerly the Getco CEO), only 2 have Knight pedigrees which is curious in light of how Knight, (the company that Getco absorbed), has client-facing businesses that Getco did not have. For better or worse, KCG will have to live with the stigma of Knight's computer glitch and the multi-million dollar settlement with the SEC that ensued. It will take a while for the industry, the press, and especially for regulators, to separate KCG from the event that led to the demise of Knight (and the creation of KCG).