Richard Herr was appointed senior vice president for strategic and business development at Investment Technology Group, an electronic broker-dealer and provider of transaction research services. The position is new. Hell be responsible for reviewing strategic partnerships and acquisitions for ITG, said spokeswoman Carolyn Freeland. He reports to CEO Bob Gasser.
Mr. Herr was senior vice president for equity research at Keefe Bruyette & Woods, where he covered brokers including ITG, for which he had an outperform rating exchanges and execution venues. Jenna Agins, a spokeswoman for KBW, said the firm has temporarily suspended coverage for the companies that Mr. Herr covered, and research will resume as soon as a replacement is announced.