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To: Mohan Marette who wrote (880)2/24/2000 10:50:00 PM
From: Mohan Marette  Read Replies (1) | Respond to of 1471
 
**OT** USC Prof. Ananth Madhavan Named MD, ITG Group

Thursday, February 24, 2000

Investment Technology Group (NYSE:ITG), a provider of technology-based equity trading services and transaction research to institutional investors and brokers, today named Ananth Madhavan, professor of Finance and Business Economics at the University of Southern California's Marshall School of Business, as its managing director of research.

Madhavan replaces David C. Cushing, who has been appointed CEO of Edge Capital, a new ITG subsidiary.

"Professor Madhavan's experience and deep understanding of our industry will allow ITG's research department to continue to provide our clients with the best possible investment research tools and an unparalleled level of analysis to compete in the dynamic global marketplace,? said Raymond L. Killian, Jr., chairman, president and chief executive officer of ITG.

At USC, Madhavan's research interests have included security market microstructure, international finance and corporate finance. His most recent research concerns the economics of institutional trading wherein he has examined the process of large-block trading in upstairs markets and also analyzed the trading strategies and associated execution costs of institutional traders.

Madhavan is also an editor of several academic journals on business and finance, most notably the Journal of Banking and Finance and Journal of Financial Markets. He has also been a consultant on various issues of security market structure and serves on advisory boards to ITG Inc. and Codexa Corporation, in addition to being a past member of the NASD (National Association of Securities Dealers) Economic Advisory

Board. In 1993-1994, he was the visiting economist to the New York Stock Exchange.

Madhavan received a B.A. degree from the University of Delhi and M.A. degree from Boston University. He received his Ph.D. in Economics from Cornell University in 1988, and was W. P. Carey Term Assistant Professor at the Wharton School of the University of Pennsylvania from 1988-1994.

- siliconindia News Bureau