CEO Douglas Cifu of Virtu Financial Steps Down from His Post
In a significant move, Virtu Financial, one of the leading global market making and execution services providers, has appointed Aaron Simons as its new Chief Executive Officer and a member of the Board. The announcement was made in July 2025, signalling a new chapter for the company.
Aaron Simons, who previously served as Executive Vice President and Chief Technology Officer (CTO) at Virtu, will succeed Douglas Cifu, who will retire as CEO but remain an advisor to Virtu. Simons's appointment comes after a distinguished career at Virtu, which he joined in 2008 following the completion of his postdoctoral research in theoretical physics.
Douglas Cifu, a co-founder of Virtu and a key figure in its growth and acquisitions, played a significant role in positioning the company for long-term success. His leadership over the past 18 years, along with that of Co-Founder and Chairman Emeritus, Vincent Viola, has seen Virtu grow through acquisitions, including Madison Tyler, KCG, and ITG.
In his statement, Cifu expressed his privilege to have led Virtu Financial and gratitude towards Viola for the opportunity. He also expressed confidence in Virtu's future growth, based on the talent, integrity, and passion of the team.
Simons, for his part, considers it an honor to follow Cifu as CEO of Virtu Financial. He highlighted the clear strategic direction for Virtu and expressed excitement about the future and what can be accomplished together. In his statement, he also expressed gratitude for the trust placed in him by the Board and acknowledged Cifu's role in creating a strong foundation for Virtu.
The transition reflects the strength of Virtu Financial's internal talent and long-term planning. Simons's background spans trading and technology within the firm, highlighting a strong technical and scientific foundation applied to financial services. As CTO, he oversaw all technology and infrastructure, including the technology integrations of the acquisitions of KCG and ITG, which expanded Virtu's market presence.
Virtu's Board of Directors has expressed confidence in Simons's leadership, judgement, and vision. Michael Viola, Chairman of Virtu Financial, thanked Cifu for his leadership and contributions to the firm. Viola praised Cifu's contributions, stating that under his leadership, Virtu has become one of the leading global market making and execution services providers.
In summary, Aaron Simons combines a scientific research background with extensive experience in technology leadership at Virtu Financial. As he steps into the role of CEO, he brings a clear strategic vision and a strong technical foundation to lead Virtu into its next phase. Meanwhile, Douglas Cifu, though retiring as CEO, will remain an advisor to the company, ensuring a smooth transition and continuity of the strategic direction set during his tenure.
Technology will play a significant role in Virtu Financial's future under the leadership of Aaron Simons, with his background in trading and technology within the firm. This background, combined with his scientific research background, will provide a strong technical foundation for the financial services company.
In the financial and business world, liquidity will be maintained with the guidance of Douglas Cifu as an advisor to Virtu Financial, ensuring a smooth transition and continuity of the strategic direction set during his tenure as CEO.
