When managing directors leave trading firms, it isn’t headline news. However, when Remco Lenterman announced to leave IMC, it’s even a news item on Bloomberg.
The big difference is of course the social media activity on twitter, and as a spokesman for the FIA EPTA he caught a lot of airtime. Lenterman has also taken a shot at google plus, secretly under the name of Wilbur Ozzy. But forgot that using his true mail address wasn’t giving a lot of cover.
Why he left IMC?
There are two stories. The first one is his family wanted to move back to London. He promised his Brittish wife to settle in the Netherlands for just a very few years. Maybe four years. As a true HFT trader, always on the edge with the rules and regulation, he managed to make it ten years. Now it’s time to move back to London with his wife and six (6!) kids. Kids who are British, according to him. Divided tasks in the household..
Position at IMC under pressure
To spend more time with the family, usually means something else. Leaving IMC Financial Markets all of a sudden and leaving FIA EPTA is strange. And rumor has it his position within IMC was under pressure. Unsure how he handled his job as managing director in Amsterdam (and one day per month in Chicago).
Lenterman hired by his father at IMC
Remco wasn’t the only Lenterman within IMC Financial Markets. His father Rob Lenterman is a long time friend of Rob Defares, the founder of IMC. As such Lenterman senior held a position at the Advisory Board of IMC as an industry outsider. And Lenterman senior has been involved a lot longer at the firm than his famous twitter son. During his active career Lenterman senior has been member of the board of Royal Nedlloyd.
Taking aim at Hunsader
Of course Remco Lenterman made his own career at Goldman Sachs (16 years) and Kempen & Co (5 years). He doesn’t need his father to land him a job at IMC – which he held for only five years. For sure he’ll continue sharing his tweets with the world. His sense of humor combined with taking aim at folks such as Hunsader and other Zerohedge followers are definitely worth following.