Christine Munson, former CEO of Tri-State Bank Isaac Singleton Photography The CEO of Tri-State Bank of Memphis[1] stepped down after four months with the company. Christine Munson[2] left Tri-State Bank in July as a result of unexpected family matters that required her attention. Both Munson and Lucy Shaw[3], chairwoman of the board of directors for Tri-State, said the departure was amicable. Christine Munson, former CEO of Tri-State Bank Isaac Singleton Photography “The job took up a lot more time than I was expecting, and I had a lot more family things come up after I took the job,” Munson said. “In the short time I was there I felt like I accomplished some things.” Upcoming Events Featured Jobs Munson officially came out of retirement March 1 after a 31-year career with First Tennessee Bank[4] to assume the role of CEO[5] for Tri-State Bank. Munson was the first female and first white CEO for the minority-owned bank. Shaw said during Munson’s time with the bank she never once failed to meet her commitments, and she got the company looking at areas that needed attention. “She was such a blessing to us, and I miss her personally,” Shaw said. “She is an awesome banker, a person of tremendous integrity, but she had some personal and family things come up that she really needed to handle.” Tri-State Bank is now in the process of finding Munson’s replacement, which Shaw said she would like to see filled within the next 60 days. The hire will likely come from outside Tri-State. “We are working on resolving that in this very moment,” Shaw said. “We are excited; we are going forward.” Prior to Munson’s hire, Jesse Turner[6] Jr., president of Tri-State Bank, held both the title of president and CEO. Upcoming Events References^ Tri-State Bank of…

The Investors Exchange is the brainchild of Brad Katsuyama[1], who gained national fame in a best-selling book called "Flash Boys" by Michael Lewis[2] for pointing out how high-frequency traders were abusing current stock exchange systems.Katsuyama was formerly the global head of electronic sales and trading at Royal Bank of Canada. He noticed that high-frequency traders were watching for very large trades to be put into the system, knowing that the order would need to be filled on multiple exchanges. The traders then would use software and super-fast internet connections to insert themselves at the front of the line, buying at the lowest prices and then selling a fraction of a second later at the higher prices. The practice raises the price for the institution or individual making a large stock buy. It works the same way on the sell side.To combat the situation, Katsuyama began developing the new stock exchange, which features a "speed bump" that winds orders through a large coil of fiber-optic cable to create a 350-microsecond delay. It's a mere blink of an eye but just long enough to create problems for the high-frequency trading strategy.After IEX filed for approval from the Securities and Exchange Commission[3], Bats issued a comment letter [PDF][4] asking IEX to change the routing of unfilled orders sent through the Bats exchange so they bypass the speed bump. IEX agreed to the change, and Bats was the only major stock exchange to support the application to be registered as a national securities exchange, saying IEX will serve only to enhance competition among exchanges."Bats congratulates IEX and appreciates the significant changes they made to their application to address industry concerns," Bats said in an email statement. Unlike the New York Stock Exchange[5] or the Nasdaq, both of which are in New York, Bats is…

Minnesota startups had a busy spring, raising more than $90 million in funding since the… more[1] DeshaCAM Minnesota startups raised more than $90 million in funding since the end of March. It was easier than usual to hit that mark thanks to one big deal in April: Startup insurer Bright Health closed on an $80 million an $80 million round[2] led by Bessemer Venture Partners and New Enterprise Associates. Minnesota startups had a busy spring, raising more than $90 million in funding since the… more[3] DeshaCAM Other multimillion-dollar deals included real estate tech company Total Exert Inc.'s $3 million round of funding and the almost $2.6 million raised by biotech company Gila Therapeutics Inc., which is developing a weight-loss product.[4][5] Find more new deals, including some updates to first-quarter numbers, in our interactive database below. Katharine Grayson covers med tech, clean tech, technology, health care and venture capital. References^ more (www.bizjournals.com)^ an $80 million round (www.bizjournals.com)^ more (www.bizjournals.com)^ $3 million round of funding (bizj.us)^ the almost $2.6 million raised by biotech company (bizj.us)...