Ruslan Margolin, who runs Knight Capital Group Inc. (KCG)’s business of trading U.S. home-loan securities without government backing, is leaving the firm.
Margolin, 40, will depart the Jersey City, New Jersey-based firm at the end of the week with plans to spend time traveling, he said in a note to clients. He confirmed the contents of the message when reached by telephone, declining to comment further.
“There are roughly 260 countries in the world full of natural/cultural/social attractions, and I’ve only been to 83 so far,” he wrote. “Life is too short to miss out on all this.”
He joined Knight in 2012 with two others who had worked at MF Global Holdings Ltd., which hired him as head of non-agency mortgage trading two months before that brokerage collapsed. Margolin, who came to the U.S. from Belarus in 1992, previously had the same position at CRT Capital Group LLC, and earlier worked for Braver Stern Securities LLC, JPMorgan Chase & Co. and UBS AG.
Knight, a market-maker being acquired by Getco LLC after a computer error last year brought it to the brink of bankruptcy, agreed in March to sell its institutional fixed-income sales and trading business to brokerage Stifel Financial Corp. for an undisclosed amount.
Jonathan Mairs, a spokesman for Knight, declined to comment.
To contact the editor responsible for this story: Alan Goldstein at firstname.lastname@example.org