Saturday, 26 July 2014
Last updated 14 hours ago
May 4 2010 | 4:16am ET
A former Caxton Associates trader has become the second Citigroup trader to leave the firm in as many weeks for Nomura Holdings.
Jay Glasser, a proprietary trader in New York, joined Nomura last week, Bloomberg News reports. He told his bosses at Citi that his departure was spurred by the proposed Volcker rule, which would bar banks from prop. trading.
At Citi, Glasser focused on Japanese interest rate derivatives and currencies. He joined the firm in 2007 from Caxton.
Glasser will find a familiar face at Nomura, where former Citi portfolio trader Dan Clarke began working about three weeks ago. All told, about 10 prop. traders have left Citi since President Barack Obama announced his support for the prop. trading restrictions.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…