CRT Capital Group LLC, an institutional broker-dealer based in Stamford, Connecticut, said it will offer foreign-exchange trading to complement its range of client services.
Seth Garrett, Klaus Said and Alan Stuart were hired to run the business, which will be based in New York and clear transactions through a prime-brokerage agreement with Citigroup Inc., according to a CRT statement today. Said worked as head of markets at Standard Bank Group Ltd. prior to joining CRT, while Garrett ran the foreign-exchange group at Standard Americas and Stuart served as co-headed institutional currency sales at Societe Generale SA.
CRT provides brokerage and research service to over 1,350 institutional accounts worldwide, primarily to asset managers, insurance companies, pension funds, hedge funds and investment firms. Formally known as Credit Research and Trading LLC, the company was founded in 1989.