Nomura MD who vanished for a year resurfaces at HFT firm
When a high-frequency trading firm hires a portfolio manager who's been out of work for ten months, it's usually because they're filling out a hedge fund non-compete. The most recent hire by DRW Trading, however, vanished from a bank, Nomura, late last year.
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Raymond Betita has joined DRW as a rates portfolio manager, based in New York. He spent a year at Nomura as a managing director in its dollar rates trading team, having previously joined from BNP Paribas, where he was also an MD and head of USD swaps trading.
Prior to that, Betita spent a decade at Deutsche Bank, where he was also latterly head of USD swaps trading.
It's not clear when exactly Betita left Nomura. FINRA's Broker Check suggests he disappeared in mid-August, but his social media states that he left the bank in December. He has not responded to a request for comment, but the bank announced it was cutting 20 staffers in its markets and investment banking businesses in October of that year.
Elsewhere, DRW has been hiring other banking alums. In Hong Kong, it hired Brian Flynn as a senior software engineer; he was previously a VP at JPMorgan, but spent the last nine years as a UI team lead at Hong Kong prop trading firm Eclipse Trading.
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