Virtu Financial stock price target cut to $17 from $21 at UBS

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Virtu names Brett Fairclough COO, says Alex Ioffe will be CFO

Virtu Financial Inc. said Wednesday it has appointed Brett Fairclough to the role of chief operating officer and global head of business development. Fairclough has worked at the company since 2007 and led Asia Pacific operations for he last five years. The financial services company said Alex Ioffe will be joining the company as chief financial officer, replacing Joseph Molluso, who is leaving the company. Ioffe was most recently chief financial officer of the U.S. broker-dealer subsidiary of Interactive Brokers Group, Inc. He has also done stints at Datek and Bertelsman, as well as an IT consultant at Accenture. The company said Marc Rosenthal is joining the executive team as executive vice president of strategy and corporate development after a more than 22-year career at Morgan Stanley. Hyungtaek Kim has been promoted to chief accounting officer. Kim has worked at the company since 2011. Shares were not yet active premarket, but have fallen 27% in 2019, while the S&P 500 has gained 16%.

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