ITG Says Jarrett Lilien To Replace CEO Bob Gasser

(RTTNews) - ITG (ITG), an independent execution broker and research provider, said it has replaced Bob Gasser as its chief executive officer with Jarrett Lilien, a member of the ITG board and the former president and chief operating officer of E*TRADE Financial, effective immediately.

Maureen O'Hara, chairman of the board of ITG, said "We are very pleased that Jarrett has agreed to serve as interim CEO while we consider our options for a permanent CEO. With Jarrett and the remainder of the executive team we are in capable hands as we seek to ensure a smooth management transition."

ITG also announced that Associate General Counsel Angélique DeSanto has been named General Counsel.

O'Hara also provided an update on last week's announcement of the potential settlement with the Staff of the SEC Enforcement Division in connection with the SEC's investigation into a proprietary trading pilot program at an ITG subsidiary. O'Hara noted that the potential settlement remains in process.