Virtu Financial names Aaron Simons as new CEO, replaces Douglas Cifu.

Virtu Financial announced the retirement of CEO Douglas Cifu and the appointment of CTO Aaron Simons as the new CEO and Board member. Cifu co-founded Virtu and helped it grow through acquisitions and its IPO in 2015. Simons succeeds Cifu and will lead Virtu's global, multi-asset financial services.

Virtu Financial, Inc., a leading provider of global, multi-asset financial services, has announced significant leadership changes. Douglas Cifu, co-founder and CEO, is retiring after nearly two decades at the helm, and Aaron Simons, the current Chief Technology Officer, has been appointed as the new CEO and Board member [1].

Cifu, who co-founded Virtu in 2008, has been instrumental in the company's growth. Under his leadership, Virtu expanded from a startup to a global market making and execution services provider. Key milestones include the acquisition of Madison Tyler in 2011, the company's IPO in 2015, and subsequent acquisitions of Knight Capital Group (KCG) and Investment Technology Group (ITG) in 2017 and 2018, respectively [1][2].

Simons, who joined Virtu in 2008 after completing postdoctoral research in theoretical physics, has served in various roles across trading and technology. As Executive Vice President and Chief Technology Officer, Simons oversaw all technology operations, including the integration of KCG and ITG following their acquisitions [1][2].

Cifu will remain with the firm as an advisor, concluding nearly two decades of leadership. "The culture and business purpose of Virtu will not change [under Simons' leadership]," said Cifu [1]. Simons expressed gratitude for the trust placed in him by the board and for the strong foundation Cifu helped create. "Our strategic direction is clear, and I am excited about what we can accomplish together in the years ahead," said Simons [1][2].

Virtu operates across 50+ countries and hundreds of venues, offering multi-asset execution, analytics, and liquidity solutions in equities, FX, fixed income, ETFs, and derivatives [3]. The leadership transition underscores the company’s internal succession planning and focus on technology-driven growth.

References:
[1] https://www.etfstream.com/articles/virtu-financial-appoints-simons-as-ceo-as-cifu-retires
[2] https://financefeeds.com/virtu-financial-names-aaron-simons-ceo-as-co-founder-douglas-cifu-retires/
[3] https://www.morningstar.com/news/globe-newswire/9502775/virtu-financial-announces-retirement-of-douglas-cifu-and-names-aaron-simons-as-new-ceo