John Bajus, global head of electronic trading solutions for US investment bank Jefferies’ equities division, has stepped down, theTRADEnews.com has learned.
Bajus has helped the firm build the Jefferies Electronic Trading Solutions (JETS) business since joining from UBS in 2010. Under his tenure, the JETS team expanded from its New York headquarters with hires in London and Hong Kong. JETS provides algorithmic strategies, program trading and direct market access for buy-side clients globally.
People familiar with the situation said the firm would look to both internal and external candidates as part of the recruitment process to replace Bajus.
In January last year, Daniel Charney, then global head of electronic trading services, left Jefferies to take the role of co-head of equities for US broker-dealer Cowen and Company.
Jefferies' global equities group consists of more than 700 sales, trading and research professionals globally.
The firm offers sales and trading services in a range of equity products, including cash equities, electronic trading, equity derivatives, exchange traded funds, convertibles, prime brokerage and securities finance.
Jefferies was approach but declined to comment on Bajus’ departure or whether the recruitment process had formally begun.