Another member of GMP’s old guard departs

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Another member of the old guard has left GMP Capital's trading desk, as vice chairman of institutional trading Mark Hawkins is gone.

Mr. Hawkins was also a member of the executive committee.

He took over as head of institutional trading when long-time head trader Mike Wekerle left the firm. Mr. Hawkins joined GMP in 1999.

There's no word yet on where Mr. Hawkins is going. His exit was announced internally at GMP on Tuesday evening, and his name is already gone from the GMP web site.

His leaving follows that of Mark Christensen, who had been running sales and trading. Mr. Christensen, who had been with GMP a dozen years, left in April to start a merchant banking firm.

Trading has become much less lucrative in the past couple of years as volumes have plunged, especially for the kinds of energy and mining stocks that were GMP's bread and butter.

(Boyd Erman is a Globe and Mail Reporter & Streetwise Columnist.)

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