KCG Holdings Turns To Profit In Q2; Names Mike Blum As CTO - Quick Facts

(RTTNews) - KCG Holdings, Inc. (KCG) reported second-quarter net income of $33.55 million or $0.38 per share, compared to net loss of $19.16 million or $0.18 per share in the same period last year.

Pre-tax income for the quarter was $54.6 million, including a gain of $33.4 million from the sale of a portion of the company's investment in Bats Global Markets, Inc.

Total revenues for the quarter increased to $319.91 million from $261.88 million a year ago.

KCG also said that Mike Blum, who joined the firm in January as Global Head of Client Technology, has been named Chief Technology Officer or CTO, effective October 1, 2016.

Jon Ross, KCG's CTO, will be leaving the company to pursue a variety of personal projects in the technology space, unrelated to trading and markets.

Blum has nearly 25 years of industry experience designing and developing systems and managing global teams within high frequency, ECN, ATS and execution service spaces. Most recently, he was CTO at Teza Technologies. Ross will remain at KCG as CTO through the transition period.