Knight Capital Adds Three New Board Members, More Adult Supervision

Knight Capital Group Inc. (NYSE: KCG) has decided to bring on three new board members for oversight now that it has been bailed out. Let’s just call this more adult supervision. The market making and trading firm has named Martin Brand, Matthew Nimetz and Fred Tomczyk to the board of directors, effective as of yesterday.

Here is a brief note on each new director:

• Brand is a managing director at The Blackstone Group L.P. (NYSE: BX).
• Nimetz is an advisory director at General Atlantic and is an advisor, investor, executive and lawyer.
• Tomczyk is president and chief executive officer of TD Ameritrade Holding Corp. (NYSE: AMTD).

Knight Capital Group will now have 10 members on its board of directors. Today’s news is probably not much of a surprise, but you have to wonder why it took this long to announce new board members after the Knight Capital trading debacle.

Knight shares are up marginally but almost not enough to notice this morning at $2.79 versus a $2.78 close on Monday.

JON C. OGG