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The Canadian arm of Investment Technology Group Inc. has lost another one of its traders.
Jeff Gamble left the firm this week, according to people familiar with the move. His departure follows that of Mark Armstrong, another trader. Mr. Gamble had been with ITG since 2009, and he started working at the Toronto Stock Exchange in 1980.
While traders at big, bank-owned dealers earn bonuses each December, ITG's staff was paid theirs in the past few weeks. People who are considering making a move often wait until they have been paid their bonuses.
The company, which has operations across the world, reported its first quarter earnings this week. The Canadian division's revenues jumped 11 per cent from the year prior, beating the 9 per cent growth in global volumes. However, the unit's performance didn't look as impressive when consolidated with its other arms because of the loonie's slide relative to the greenback.
Still, ITG Canada's profit margins are rather large, often hovering between 18 and 22 per cent, while the U.S. division's are roughly half that.
Tim Kiladze