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.