CRT Capital Group LLC, the broker-dealer led by former Lehman Brothers Holdings Inc. executive Theodore Janulis, lost two Treasuries traders.
Woody Jay and Bart Sokol confirmed their departures. Sokol had been with Stamford, Connecticut-based CRT since June 2009, when it announced a plan to join the Federal Reserve’s network of primary dealer counterparties. Jay, who was head of Treasury trading at Lehman until 2005, said he left CRT June 30.
Bloomberg News reported in June that the firm had decided not to commit capital to Treasuries trading or bid at debt auctions, and to abandon efforts to join the ranks of primary dealers, while still providing customers access to government securities.
“I’ve left CRT because of a change in strategy,” Jay said in a telephone interview. “It was a mutual agreement.”
John Nielsen, general counsel for CRT, didn’t return telephone messages and an e-mail seeking comment. The company employs more than 250 people, according to its website.
The company, formerly known as Credit Research & Trading LLC, expanded its debt business after getting a $225 million investment in 2010 from private-equity firm Aquiline Capital Partners LLC.