AQR Capital Management’s head of trading, Hitesh Mittal, is taking a temporary paid leave of absence amid an ongoing SEC investigation of his former employer, Investment Technology Group Inc.
During Mittal’s absence, AQR principal Brian Hurst will assume the management of the firm’s trading operations.
ITG under SEC radar
ITG announced late Wednesday that the U.S. Securities and Exchange Commission was investigating the lack of disclosure by the firm to its clients that a subsidiary of the agency broker was trading against client orders within ITG’s private stock trading venue or “dark pool”.
ITG disclosed that a market-making unit run by the subsidiary in 2010 and...
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