Seaport Trading Co-Head Drew Doscher Said to Leave After Dispute

Drew Doscher, co-head of sales and trading at Seaport Group, left the New York-based securities firm, according to a person with direct knowledge of the matter.

Doscher, 43, the former head of distressed debt at UBS AG (UBSN) and Barclays Plc (BARC), resigned yesterday after a dispute with Seaport co-founders Michael Meagher and Stephen Smith, said the person, who asked not to be identified because the departure hadn’t been announced. Doscher and Meagher declined to comment.

Doscher and Michael Meyer, who also ran sales and trading, joined Seaport in 2009, according to Financial Industry Regulatory Authority records. Since then, the firm more than doubled revenue to $80.1 million in 2011 from $29.8 million in 2008, regulatory filings show.

The firm, founded in 2001 as a distressed-debt broker, now has about 200 employees who trade bonds, private placements and structured products, according to its website. Smith and Meyer didn’t respond to messages seeking comment.

Doscher is also an owner of the Sloppy Tuna, a bar and restaurant in Montauk, New York, according to a report in East Hampton Patch, a news website.

To contact the reporter on this story: Zeke Faux in New York at zfaux@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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