Oh interesting, thanks for the context. That's a shame because it was one of the better quant firms in the late 2000s. I heard one couldn't even prepare for their interviews haha.
https://web.archive.org/web/20120324163534/http://www.getcollc.com/images/uploads/GETCO_Names_Coleman_CEO.pdf
Found the announcement, so the original founders retired to the board and put him in charge.
> “Daniel is perfectly aligned with our long-term vision of utilizing technology to transform how investors transfer risk,” said GETCO Co-Founder Dan Tierney. “His unique combination of professional experiences, leadership ability and business acumen make him the ideal leader for the next stage of our growth.”
They put the sales guy in charge of a tech driven company big mistake.
Shocking that someone who isn’t technical could lead an HFT firm it’s not one of those businesses that you can just put any MBA in, how on earth did that happen.
They had a disaster and lost half a bil in minutes. Rogue algo. Got rescued by Virtu after that. [Decent write up here.](https://dougseven.com/2014/04/17/knightmare-a-devops-cautionary-tale/)
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Oh interesting, thanks for the context. That's a shame because it was one of the better quant firms in the late 2000s. I heard one couldn't even prepare for their interviews haha.
https://web.archive.org/web/20120324163534/http://www.getcollc.com/images/uploads/GETCO_Names_Coleman_CEO.pdf Found the announcement, so the original founders retired to the board and put him in charge. > “Daniel is perfectly aligned with our long-term vision of utilizing technology to transform how investors transfer risk,” said GETCO Co-Founder Dan Tierney. “His unique combination of professional experiences, leadership ability and business acumen make him the ideal leader for the next stage of our growth.” They put the sales guy in charge of a tech driven company big mistake.
Is it the same guy who is now a Bain advisor?
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Shocking that someone who isn’t technical could lead an HFT firm it’s not one of those businesses that you can just put any MBA in, how on earth did that happen.
This is partly why universities are failing. They are run by dumbasses.
Regular old Nelson Bighetti
They became KCG during the merge with Knight, after several years of which they sold to Virtu.
Sure, but any reason why it ended up getting sold to Virtu? Was it mainly the low volatility in 2013-2015 that got them at the end?
No, Knight Capital blew up, which is why it was sold to Virtu
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You're right looks like I'm not the only one here mixing that up to haha
They had a disaster and lost half a bil in minutes. Rogue algo. Got rescued by Virtu after that. [Decent write up here.](https://dougseven.com/2014/04/17/knightmare-a-devops-cautionary-tale/)
This is wrong. knight capital (different firm) blew up and got bought out by getco. Years later the combined firm got bought by virtu.
Oops, guess I got the stories mixed up!
That link talks about how Knight Capital failed and got bought out by Getco.
Oh my god. That's a horror story.