Vincent Viola

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Vincent Viola
Born February 1956 (age 68)
Brooklyn, New York, U.S.
Residence New York City, New York, U.S.
Alma mater United States Military Academy
New York Law School
Occupation Founder, Virtu Financial
Owner of the Florida Panthers NHL ice hockey franchise
Net worth $2.2 billion (September 2015)[1]
Spouse(s) Teresa Viola
Children 3

Vincent "Vinnie" J. Viola (born February 1956)[2][3] is an American billionaire businessman, the founder of Virtu Financial. Viola is also the owner of the Florida Panthers, a National Hockey League (NHL) ice hockey franchise based in Sunrise, Florida.[4] On December 19, 2016, President-elect Trump nominated Viola for Secretary of the Army.[5]

Early life

Viola was born in Brooklyn, New York.[2] He has a bachelor's degree from the United States Military Academy, and a JD from New York Law School.[1]

Career

In 1982, Viola secured $10,000 from savings, family, and friends to purchase a seat on the New York Mercantile Exchange (NYMEX).[6] He leveraged this initial investment into a career at the NYMEX serving on multiple committees including chairman of the Technology Committee. Viola held elected positions on the Board of the NYMEX as an at-large member from 1987 to 1990, vice chairman from 1993 to 1996, and chairman from March 2001 to March 2004.[7][8][9]

During his tenure as chairman, the NYMEX briefly closed due to the September 11 attacks. Some 32 members of the exchange community were killed, including several current and former members of the NYMEX.[10] A colleague recounts working “around the clock for six straight days with Chairman Viola” to reopen the NYMEX.[11] The Board and members later recognized Viola through a citation as “the only business west of Ground Zero to open on September 17...preserving the livelihoods of tens of thousands of individuals and families.”[12]

Viola acted as entrepreneur or major investor in founding numerous businesses. In 1985, he started Pioneer Futures, a clearing member for exchanges.[13] In 1988, he founded The First Bank Group, now The Independent Bank Group, operating banks in Dallas and vicinity. In 2008, he co-founded International Derivatives Clearing Group (IDCG), a clearinghouse for OTC Interest Rate Swaps.[14][15] In 2008, he founded Virtu Financial, a high-frequency trading company, taking the company public in April 2015.[16] In 2013, he acquired the Florida Panthers in a reported $230M deal.[17] In 2014, he became the major shareholder of Eastern Air Lines to re-launch the former airline carrier.[18]

As of September 2015, Viola had a net worth of $2.2 billion.[1]

Philanthropy

Viola has funded a range of philanthropic concerns, with emphasis in the New York City area. In 2002 after the September 11 attacks, he founded, endowed, and later continued ongoing support of the Combating Terrorism Center at West Point.[19][14] He founded Rowan Technology Solutions, a military history company utilizing modern technology, and gave West Point a kick-start donation.[20]

Viola has supported both Catholic and Jewish charities. With his family he founded the Pope John Paul II Family Academy, a private Catholic school in Brooklyn.[14] In 2009 with an endowment of $2M to Fordham University, he created the Avery Cardinal Dulles, S.J., Chair in Catholic Theology.[21] He also fundraised for Chai Lifeline, a support services non-profit for Jewish children with major illness.[22]

Other philanthropy includes Columbia University medical school[14] and the National Italian American Foundation (NIAF) Public Policy Lecture Series.[23]

Personal life

Viola and his wife Teresa have three adult sons: John M., Michael T., and Travis, each with a professional connection to their father.[24][25][26] The Violas have residences in Manhattan[2] and Florida. Vincent and Teresa operate St. Elias Stables, a horseracing business.[3]

References

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