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The 2016 Tech 50: Daniel Coleman

The KCG Holdings CEO jumpes to No. 10 on this year’s Tech 50 ranking.

  • By Peter Vasiliev

10
Daniel Coleman
Chief Executive Officer
KCG Holdings

KCG Holdings chief executive Daniel Coleman is constantly on the lookout for ways to leverage technology. Since July 2013, when Jersey City, New Jersey–based KCG was formed through the merger of Chicago-based high frequency trading pioneer Getco (where he had been CEO) and troubled broker-dealer Knight Capital Group, Coleman has been selling off his company’s less tech-focused operations. KCG announced in February that Citadel Securities was buying its New York Stock Exchange designated market-making (DMM) business. “The sale of the DMM was the final step to where we are very much a technology-driven firm,” says Coleman, who turns 52 in August and worked at UBS and predecessor firms for more than two decades before joining Getco in 2010. “We still have some businesses that require over-the-phone conversations with clients, but even with those most of the order flow comes in via technology.” During the past year Coleman has been hoarding chief technology officers, starting with the hiring last summer of REDI Holdings CTO Josh Schubkegel. In December he brought back Michael Blum, who headed Getco Execution Services from 2009 to 2012 before leaving to become CTO of Chicago-based hedge fund firm Teza Technologies. In March, Coleman recruited Brian Freyburger, who was CTO of high frequency trading firm Tower Research Capital. Schubkegel and Blum are both working on client-facing technologies; Freyburger is rebuilding KCG’s core market-making system. “We’ve given Brian and his team the luxury of building from scratch something that will be a next-generation trading system,” says Coleman, an Alabama native who commutes weekly from Birmingham to KCG’s offices in New York and Jersey City. “To some extent, Mike is doing the same thing on the client-facing side.” KCG, which is listed on the NYSE, has profited from this year’s increased market volatility. In the first quarter its U.S. equity market-making revenue grew 22 percent year over year and its BondPoint trading venue set a quarterly record, with average daily fixed-income par value increasing 32 percent.

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The 2016 Tech 50
1. Catherine
Bessant
Bank of America Corp.
2. Jeffrey Sprecher
Intercontinental Exchange
3. Lance Uggla
Markit
4. Phupinder Gill
CME Group
5. Shawn Edwards and Vlad Kliatchko
Bloomberg
6. R. Martin Chavez
Goldman Sachs Group
7. Robert Goldstein
BlackRock
8. Adena Friedman
Nasdaq
9. Deborah Hopkins
Citi Ventures
10. Daniel Coleman
KCG Holdings
11. Stephen Neff
Fidelity Investments
12. David Craig
Thomson Reuters
13. Michael Spencer
ICAP
14. Michael Bodson
Depository Trust & Clearing Corp.
15. Charles Li
Hong Kong Exchanges and Clearing
16. Chris Concannon
BATS Global Markets
17. Blythe Masters
Digital Asset Holdings
18. David Rutter
R3CEV
19. Neil Katz
D.E. Shaw & Co.
20. Lee Olesky
Tradeweb Markets
21. Richard McVey
MarketAxess Holdings
22. Seth Merrin
Liquidnet Holdings
23. Robert Alexander
Capital One Financial Corp.
24. Brad Katsuyama
IEX Group
25. Antoine Shagoury
State Street Corp.
26. David Gledhill
DBS Bank
27. Lou Eccleston
TMX Group
28. Andreas Preuss
Deutsche BÖrse
29. Dan Schulman
PayPal Holdings
30. Scott Dillon
Wells Fargo & Co.
31. Mike Chinn
S&P Global Market Intelligence
32. Craig Donohue
Options Clearing Corp.
33. Gary Norcross
Fidelity National Information Services
34. Steven O'Hanlon
Numerix
35. Sebastián Ceria
Axioma
36. Michael Cooper
BT Radianz
37. Tyler Kim
MaplesFS
38. Neal Pawar
AQR Capital Management
39. David Harding
Winton Capital Management
40. Chris Corrado
London Stock Exchange Group
41. Brian Conlon
First Derivatives
42. Jim Minnick
eVestment
43. Stephane Dubois
Xignite
44. Mazy Dar
OpenFin
45. Yasuki Okai
NRI Holdings America
46. Kim Fournais
Saxo Bank
47. Jock Percy
Perseus
48. Robert Schifellite
Broadridge Financial Solutions
49. Brian Sentance
Xenomorph Software
50. Pieter van der Does
Adyen

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