Electronic trading firm IMC hired a Credit Suisse veteran
Electronic market maker IMC Trading has been hiring. Its latest senior arrival spent 18 years at Credit Suisse.
David Cohen has joined IMC Trading to work in derivatives sales. He previously worked on equity derivatives sales at Credit Suisse, latterly serving as co-head of EMEA flow derivatives sales.
Cohen achieved promotion to MD back in 2018. At the time, he was alleged to be part of a group of freshly promoted MDs to whom most equity derivatives staff in London reported to, in spite of a few big external hires.
He appeared to have survived the acquisition of Credit Suisse by UBS, alongside many others, after the bank missed its job cutting targets as part of the takeover. It seems to have worked out well in Cohen's case; derivatives revenues at UBS were up 38% year-on-year for the first quarter of 2025, with success partially attributed to increased client activity in equity and FX derivatives.
It's not just salespeople IMC is hiring. In Chicago, it hired Yining Lu, a quant researcher from rival high frequency trading (HFT) firm The Chicago Trading Company. He's a PhD mathematician, a somewhat rare site for prop trading firms; at IMC, for example, there are over 1600 employees and we can see less than 50 with PhDs. His thesis involved mathematically modelling the circadian rhythms of different species, ranging from bacteria to mammals.
IMC did not respond to a request for comment.
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