Mark Burgess has joined commodities specialist Marex as equities trader following a 14-year stint at Winterflood Securities.
Burgess joined market maker Winterflood back in 2009 and has served as European equities trader, head of European market making, and most recently UK equities trader.
In recent times, Winterflood – whose parent company is Close Brothers – saw its annual profits collapse by 75% to £3.5 million in 2023, as investors shunned mid and small-cap stocks. Following this, Winterflood cut twenty positions across its London office, including six traders, as revealed by The TRADE.
Just prior to this news, two other traders, Ben Ralph-Davies and Joel Russell also left Winterflood’s London business to join rival market maker Shore Capital, according to sources.
Last December, Marex completed the acquisition of TD Cowen’s outsourced trading and prime brokerage business, first announced in September 2023.
The business was rebranded as Marex Prime Services and Market Outsourced Trading, with both becoming part of the Marex Capital Markets business – formed last year following the acquisition of ED&F Man Capital Markets.