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The 2015 Trading Technology 40: Jamie Selway
#22 Jamie Selway, Head of Electronic Brokerage and Sales, Investment Technology Group
Like many of his peers, Jamie Selway took umbrage at Michael Lewis’s treatment of the trading world in Flash Boys and “spent some time playing defense last year,” he says. “Initially, it was hard to put your head up above the parapet and defend the industry.” But Investment Technology Group’s head of electronic brokerage and sales managed plenty of offense too, offsetting sluggish market activity with international and multiasset growth initiatives. Renowned for its market structure expertise, algorithms, order and execution management technologies, and POSIT, the 28-year-old granddaddy of institutional crossing networks, New York–based ITG increased total revenue by $12 million year-over-year in the first nine months of 2014, to $411 million. That wouldn’t have happened without a $30 million jump in European operations, to $96 million. Electronic brokerage, Selway’s principal remit, gained $4 million, to $215 million. “We want to take what we do well in the U.S. and extend that to other geographies and asset classes,” says Selway, 43, who joined ITG in 2010 after stints at Goldman Sachs Group, Archipelago and White Cap Trading. “Our vision is to create not only a global equity but also a multi-asset-crossing portal.” Taking its equity expertise into the U.S. corporate bond arena, ITG began operating its POSIT FI dark pool in beta mode in November, aiming for a full first-quarter launch. “We’re teaching ourselves to speak bond,” Selway says.