After , KCG Holdings Inc. (NYSE:KCG) has issued a company announcement outlining that the deal with Wedbush Securities has been concluded. Financial terms of the transaction remain undisclosed.
Restructuring efforts at the company have been ongoing for the past couple of months with in a move which followed the announcement.
The surprise resignation of KCG Holdings’ Chief Financial Officer (CFO) Steven Bisgay was the culmination of a series of senior executive departures. The company’s Head of Corporate Strategy Richard Herr and Deputy General Council Andy Greenstein left around the time of the departure of , who left the foreign exchange arm at KCG after 14 years.
More recently, the company has announced that it is looking at , with a . Volumes at the FX arm of KCG Holdings (NYSE:KCG) have as the volatility on the foreign exchange market rebounded.
As a result of the transaction, the composition of KCG Holdings’ (NYSE:KCG) balance sheet has been changed, with certain assets and corresponding liabilities, totalling approximately $680 million as of September 30, 2014, being removed from it.