Executive Profiles

Thomas Peterffy: Chairman of the Board of Directors and Chief Executive Officer

  • Emigrated to the U.S. from Hungary in 1965.
  • Became a member of the American Stock Exchange in 1977 as an individual floor trader after working for 10 years as a computer programmer.
  • Pioneer in the advancement of options markets and electronic trading. Influential in the formation and structuring of the Boston Option Exchange (BOX) and the International Securities Exchange (ISE).

Earl H. Nemser: Vice Chairman and Director

  • Special Counsel to the law firm Dechert LLP.
  • Specializes in commercial counseling and litigation with an emphasis on securities and commodities law.
  • J.D., magna cum laude, from Boston University School of Law.
  • B.A. in Economics from New York University.

Milan Galik: President and Director

  • Joined Timber Hill in 1990 as a software developer.
  • Head of software development for the market making system and several areas of the brokerage system.
  • Member of the Board of Directors of the Boston Options Exchange.
  • M.S. in Electrical Engineering, Technical University of Budapest.

Paul J. Brody: Chief Financial Officer, Treasurer, Secretary and Director

  • Spent five years as an Asst. VP and Credit Manager for Mocatta Metals Corp. prior to joining Timber Hill in 1987.
  • Responsible for internal admin., finance, accounting, clearing, and banking relationships.
  • Oversees certain aspects of new product development.
  • B.A. in Economics, Cornell University 1982.

Thomas A. Frank: Executive Vice President and Chief Information Officer

  • Joined Timber Hill in 1985.
  • Responsible for the development and maintenance of the Company's trading, processing, and communications systems. Presently, he concentrates on development of brokerage systems.
  • Ph.D. in Physics from MIT 1985.

Lawrence E. Harris: Director

  • Professor of Finance and Business Economics, and director of the Center of Investment Studies at the University of Southern California, where he holds the Fred V. Keenan Chair in Finance at the Marshall School of Business.
  • Serves as a director of the Clipper Fund and as the research coordinator of the Institute for Quantitative Research in Finance.
  • From 2002 – 2004, served as the Chief Economist of the U.S. Securities and Exchange Commission.
  • Ph.D. in Economics, University of Chicago 1982.

Hans R. Stoll: Director

  • Professor of Finance and Director of the Financial Markets Research Center at the Owen Graduate School of Management, Vanderbilt University since 1980.
  • Member of the Board of Directors of the Option Clearing Corporation, 2005 - 2008.
  • A.B. degree from Swarthmore College in 1961.
  • M.B.A. and Ph.D. degrees from the Graduate School of Business of the University of Chicago in 1963 and 1966, respectively.
  • Fellow of the American Finance Association.

Richard Gates: Director

  • Co-founded TFS Capital in 1997, an independent advisory firm dedicated to the construction of quantitative models designed to identify market inefficiencies.
  • As a portfolio manager at TFS, his focus is on trade execution, factor research, and business development.
  • Graduated from the University of Virginia in 1994 with a bachelor's degree in Chemical Engineering.

Wayne Wagner: Director

  • Wayne Wagner is a consultant on issues related to investment management and securities trading.
  • He co-founded Plexus Group, now part of ITG, Inc., in 1986. Plexus provided trading evaluation and advisory services to money managers, brokerage firms and pension plan sponsors.
  • He was also a founding partner of Wilshire Associates and served as the Chief Investment Officer of Wilshire Asset Management.
  • He participated in the design of the operating, balancing and evaluation algorithms for the world's first operational index fund at Wells Fargo Bank.
  • He is recognized as instrumental in pioneering processes to reduce the costs of trading.
  • Mr. Wagner has authored several books on the topic of trading and investment management and is a frequent speaker on these topics.