CRT Capital Reaches Agreement with Citadel Securities to Acquire IMBS Team

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Transaction Supports Continued Expansion of CRT’s Securitized Products Business

STAMFORD, Conn.--(BUSINESS WIRE)-- CRT Capital Group LLC (“CRT”), an independent institutional broker-dealer based in Stamford, Connecticut, today announced that it will acquire a team of sales and trading professionals from Citadel Securities’ Institutional Mortgage Backed Securities Group.

The team, led by Patrick Russell and Igor Vidrevich, will join CRT’s established Securitized Products Business, focusing on agency and non-agency residential and commercial mortgage-backed securities, asset-backed CDOs, and mortgage-backed pass-through securities. Prior to joining Citadel Securities, Messrs. Russell and Vidrevich were part of Morgan Stanley’s Agency CMO Trading Desk, where Mr. Russell served as Co-Head.

Another addition to CRT’s team is Anthony “Rob” Roberto, who will join the Firm’s U.S. Treasuries and Agency Group as a Managing Director. Before his time at Citadel Securities, Mr. Roberto served in various capacities at Bear Stearns, RBS Greenwich Capital and Salomon Brothers.

“We are pleased to welcome such an experienced and talented team of sales and trading professionals to our existing Securitized Products group,” said Jeffry Mullins, CRT’s Co-Head of Securitized Products. “Their strong client relationships and superior execution experience will be valuable as we continue to grow our business.”

“Our Securitized Products Business is an important part CRT’s long-term growth plan, and this impressive team of sales and trading professionals is a great fit for our organization,” added Ron Kripalani, Chief Executive Officer of CRT. “This transaction furthers our goal of strategically growing our business through the addition of seasoned talent that can help expand the services and products we offer to our institutional clients.”

CRT, with over 20 years experience as an institutionally-focused broker-dealer, continues to build a world class organization that delivers unsurpassed research and trade execution services to its clients by attracting best-in-class talent for its research, sales, trading, technology and support functions.

About CRT Capital Group LLC

CRT provides security brokerage and research services to over 1,200 institutional accounts with established counterparty relationships around the world. The firm caters to asset managers, insurance companies, pension funds, hedge funds and investment firms. CRT, formerly known as Credit Research and Trading LLC, was founded in 1989 and is headquartered in Stamford, Connecticut.