Co-founder Douglas Cifu has retired from Virtu Financial, with chief technology officer Aaron Simons taking on the CEO position.
Cifu will remain an advisor to the company.
Virtu Financial reported US$2.1 billion in net trading income from its market making division in 2024, up 41% year-on-year.
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Simons joined Virtu in 2008, and has held trading and technology roles across the firm.
Michael Viola, Virtu Financial chairman, commented, “the board is confident that [Simons] possesses the leadership, judgement, and vision to build on our momentum. This transition reflects the strength of our internal talent and long-term planning.”
