A trading startup backed by George Soros and Peter Thiel has undergone a big shake-up. TruMid is one of several firms trying to take advantage of increased interest in electronic bond trading at a time when many are complaining about reduced liquidity.
George Soros backed TruMid in a fund-raising round in October. TruMid, a bond-trading startup that has raised money from venture capitalist Peter Thiel and legendary investor George Soros, has undergone a big shake-up. The business has made numerous changes in its senior ranks, with a new leadership team put in place in the early part of this year. The firm has also seen a number of departures, including some of the well-known Wall Street traders who joined the firm in its early days. TruMid is also readying the launch of a new trading platform, necessitating an internal shift away from client-focused salespeople to technology talent.