Mark Gorton Steps Down From Helm of HFT Firm Tower Research
- Albert An, who joined in 2016, succeeds him as chief executive
- Tower is one of the oldest high-frequency firms in the U.S.
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Mark Gorton is stepping down from the helm of Tower Research Capital, the high-frequency trading giant he founded two decades ago.
Technology head Albert An, 44, is replacing him as chief executive officer, and Gorton will be chairman, the two said in an interview. Tower is one of the oldest firms that use computers to buy and sell securities at speeds faster than the blink of an eye.