Mike Cudzil, mortgage-backed securities trader at Lehman Brothers in New York, has left for Banc of America Securities, also in New York. Cudzil, who traded agency pass-throughs at Lehman, will take on a like role at BofA, according to industry professionals.
According to a message on his Bloomberg account, Cudzil is "not yet up and running" in his new role at BofA and it could not be determined when he will actively begin to trade. Cudzil declined all comment on his move.