One of the Few Outspoken Speed Traders Says He’s Leaving IMCJohn Detrixhe and Tracy Alloway
Automated trader IMC Financial Markets is losing an outspoken executive.
Remco Lenterman, a managing director, said he’s leaving the Amsterdam-based company and moving to London. He didn’t mention what his future job plans are beyond saying he anticipates staying in the industry. Lenterman spent five years at IMC.
“The decision was mine and was entirely amicable,” he wrote in a Twitter direct message. “In the end I decided with my family that I really want to return to London. I spent much of my professional career there before joining IMC. My wife is British.”
In a business known for secrecy, he’s been one of the few executives willing to speak publicly. He’s vocal on Twitter, engaging in debates with critics of automated trading, and has been a regular at industry conferences.
“Should I go out with friends tonight or spend the evening tweeting obsessively about #HFT and BATS?” he wrote on Twitter last week, referring to high-frequency trading and exchange operator Bats Global Markets Inc. “This is a tough choice.”
Scott Knudsen, a Chicago-based managing director at IMC, confirmed Lenterman’s departure and said his responsibilities would be taken on by senior officials at IMC. Lenterman’s focus at the firm was global corporate development, and he played a significant role in IMC’s acquisition of Goldman Sachs Group Inc.’s trading post at the New York Stock Exchange, Knudsen said.
IMC, founded in 1989, trades on more than 100 markets around the world and is among the few firms with rights to call itself a designated market maker at the NYSE. It earned 169 million euros ($184 million) in 2013, according to the Dutch Chamber of Commerce’s website.
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