Mortgage-related departures are underway at major banks. Brett Ackerman left his post as an Alt-A ARM trader at Barclays Capital last Tuesday. Ackerman, 28, was part of a six-member group that specialized in those mortgages. He was recently featured in a round up of "30 Under 30" in Trader Monthly magazine. Ackerman was recruited from Bear Stearns in August 2006, where he reported to Michael Nierenberg, a senior managing director and head of ARM trading.
Also, Brad Harris, who worked in the CMO group at UBS, left the bank recently, where he worked as a structurer and trader. While the bank confirmed Harris' departure, it did not confirm word that about three others in the same group left around the same time. Previously, Harris worked at JPMorgan Securities and Credit Suisse.