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Bloomberg News reports that Rochdale Securities’ co-heads of trading, Kristen Talgo and Hal Tunick, have left 37-year-old Stamford-based brokerage firm, which is seeking a lifeline after a bad Apple trade back in October.The two traders have both joined Rafferty Capital Markets based in Garden City, New York, Bloomberg reports citing FINRA records.
Earlier this month, it was revealed that a Rochdale trader, identified in media reports as David Miller, made unauthorised stock purchases of $1 billion in Apple shares on October 25.
Now, Rochdale, which employs noted bank analyst Dick Bove, has been searching for either a merger deal or a capital injection to stay afloat.
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