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Investment Technology Group's head of US research, sales and trading to leave after ITG Investment Research sale

Michael Marrale will cease serving as managing director and headof U.S. research, sales and trading for InvestmentTechnology Group Inc.

According to a Form 8-K filed May 10, Marrale's departure comesin connection with Investment Technology Group's agreement to sell ITG Investment Research to for $12 million incash.

Marrale will no longer be an employee of Investment TechnologyGroup or any of its units effective as of the closing of the deal.