CRT Capital’s Former Interest-Rates Head Bowens Leaves Firm

CRT Capital Group LLC, the Stamford, Connecticut-based institutional broker-dealer, said rates trader Marx Bowens III has left the firm.

Bowens served as CRT’s head of interest rates until June 2013, when he was succeeded by Bart Sokol. Bowens joined CRT in June 2009 from Royal Bank of Scotland Group’s RBS Securities along with David Ader and Ian Lyngen, Institutional Investor’s top-ranked team of U.S. government-securities strategists for the past eight years, in an effort to build CRT into one of the Federal Reserve’s primary dealers.

“I can confirm that Marx Bowens has left,” said John Nielsen, the firm’s general counsel. “He hasn’t told us where he’s going.”

Bowens, who continued as a rates trader after Sokol’s appointment, declined to comment. He began in 1996 with RBS, a primary dealer, according to the Financial Industry Regulatory Authority database.

Primary dealers underwrite the Treasury’s debt and trade as counterparties with the Fed. Since June 2009, the Fed Bank of New York, which runs the central bank’s trading operations and manages the network of primary dealers, has expanded the roster to 22 firms from 16.

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