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Knight has adopted a new, less
complicated organization emphasizing simplicity and transparency.
Emphasis on individual subsidiaries is being diminished;
client service is the primary focus. |
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RESTRUCTURED AROUND OUR CLIENTS
Knight always thought of itself as a collection of subsidiaries, each
one offering a different product or service. This viewpoint was the
direct outcome of a history as an equity market maker that acquired
options market-making and asset management businesses along the way.
Today, Knight’s viewpoint has evolved. A company should be built
around the audience that matters most – the clients. In 2002,
Knight began its transformation.
SIMPLICITY
AND TRANSPARENCY
Knight has adopted a new, less complicated organizational structure
emphasizing client service, simplicity and transparency. Emphasis
on individual subsidiaries is being diminished. Ideally, clients shouldn’t
think of Knight Securities, Knight Capital Markets, Knight Financial
Products or Knight Execution Partners. Rather, Knight wants to be
seen as one company. With one approach. And one
brand.
In order for Knight’s new structure to work well, corporate
culture must shift in tandem. Knight employees are embracing client
commitment and service as their priority. Departments have been reorganized
to build teamwork. Compensation has been changed to reward market
makers for focusing on the client.
GREATER
ACCESS TO PRODUCTS AND SERVICES
Knight’s original silo structure made for less-than-efficient
client service. It was possible for the same client to be contacted
by two or more different Knight representatives from different subsidiaries
with different offerings. Today, Knight is building teams around each
client to better coordinate outreach. Ideally, client access to Knight’s
products and services should be seamless. At the same time, Knight
will continue to look for opportunities to cross-sell these products
and services. Many clients who come to Knight for cash equity trade
execution could use option services as well. Broker-dealer clients
could benefit from Knight products typically offered to institutions.
Such coordination should improve as the lines between subsidiaries
fade. |
