Stephen Bookbinder, managing director and head of sales at eSpeed is to leave the fixed income network after just ten months in the job.
Bookbinder joined eSpeed in June last year after 14 years at Bloomberg where he directed sales for the Tradebook division, a global institutional electronic brokerage that he co-founded with eSpeed's newly-appointed president Kevin Foley.
In a brief statement, eSpeed says Bookbinder's departure was a "mutual decision". The company says it intends to search for a replacement. In the interim eSpeed sales will be overseen by Paul Saltzman, chief operating officer.
Bookbinder's departure comes barely a month after the loss of James Stedman, the firm's global head of futures and options who reported to Bookbinder.
The shake-up follows a torrid period for the firm, which has seen its market share eroded by competitive networks such as BrokerTec and lost a number of important patent arguments in the law courts.