Caxton Vet Leaves Citi For Nomura

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.


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