CHICAGO - After helping a traumatized bond community decide when to reopen fixed-income markets following Sept. 11, John Tormondsen, head of fixed-income and swaps trading at Goldman, Sachs & Co. and an active member of The Bond Market Association, has retired after 17 years.
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Tormondsen could not be reached for comment yesterday, either at Goldman Sachs or at his home in Greenwich, Conn. However, his assistant confirmed that he had left the company.
Tormondsen was in line to serve as 2002 chair of the TBMA's Primary Dealers Committee of the government and federal agency securities division and also as a member of the Primary Dealers Executive Committee, a senior steering committee of the division. He had been vice-chair of the Primary Dealers Committee.
"We were sad to see him go -- he's obviously a very talented guy," said Eric L. Foster, vice president and assistant general counsel to the TBMA, who acts as staff adviser to the government and federal agency securities division. "He was extremely useful in a number of initiatives the committee had considered in the last year. He was very respected among his colleagues."
Foster noted that Tormondsen had been "indispensable" during and after Sept. 11 as a member of the calendar committee when the association hosted a number of conference calls to determine when to re-open the fixed-income market.
Tormondsen's position as Primary Dealers Committee chair will be filled by Thomas C. Connor, managing director and trading manager of the government trading department at J.P. Morgan Chase, according to Mike Dorfsman, vice president of media relations at TBMA.
Thomas J. Paul, managing director and head of fixed income and trading at the North American branch of Deutsche Bank, will serve as new vice-chair, Dorfsman said.
The government and federal agency securities division makes policy for the association regarding treasury and federal agencies.
Tormondsen had served on the Primary Dealers Committee for The Bond Market Association from 1996 until the end of last year, according to Dorfsman. He joined the calendar committee in 2000.
