Citadel as a firm is highly quantitative and opportunistic. Eventually it will – unless it’s offensive or libelous (in which case it won’t). Convertible arbitrage is a trading strategy that consists of shorting overpriced warrants while buying the underlying stock. Having had experience at AQR Capital Management, a rival hedge fund, Kang will be in charge of helping manage Citadel’s convertible arbitrage strategy, a long-short trading strategy with the purpose of enhancing investment gains with minimal risk. When he returned for his senior year, he had $1 million in investors’ money for the same strategy. Navneet Arora is Head of Global Quantitative Strategies at Citadel and is a member of Citadel’s Portfolio Committee. Citadel’s Fixed Income and Macro team works collaboratively, integrating a disciplined investment process within a rigorous analytical framework. Citadel’s equities teams employ their deep expertise to invest in the equity and equity-linked securities of companies across the globe. Our team members share more than a quarter-century commitment to pursuing superior returns, applying their talents to fundamental research and advanced quantitative analysis to bring their insights to market. If you’re looking for a pattern in its recent hires, Citadel has shown a propensity to add recruits with extensive and often eclectic educational backgrounds, including multiple post-graduate degrees. He first joined Citadel as a Senior Quantitative Researcher in 2013. That year, the 1987 stock-market crash hit, and Griffin struck it rich. Beecher Tuttle The new funds will focus on convertible arbitrage, fixed-income and a global-macro strategy. He j oined Citadel in 2013. A key part of this process is our advanced technology platform that allows us to quickly and deeply understand patterns within a market or product, conduct scenario analysis and improve the overall accuracy of our views. Our equities platform supports three different businesses: Established in 2001, Citadel Global Equities (CGE) is Citadel’s founding fundamental equities business. For a while, convertible bond arbitrage was Citadel's primary strategy, though since then it has expanded considerably into other areas and is at this point a well-diversified hedge fund. Greater New York City Area. At the core of the Surveyor investment process, sector-aligned investment teams focus on understanding each company’s strategy, management team, drivers of performance, and cyclical and secular industry trends over the medium and long term. eFinancialCareers is a DHI service With more than two decades of experience, Citadel’s team stands at the forefront of data analysis and modeling. We seek to generate alpha by combining fundamental stock selection with proprietary analytical methodologies, grounded in rigorous risk management. Sebastian Barrack is Head of Commodities at Citadel and is a member of Citadel’s Portfolio Committee. Hema Parmar. Convertible Arbitrage Citadel. Copyright © Citadel Enterprise Americas LLC or one of its affiliates. 333-108398 . Its latest foray has caused something of a stir on Wall Street. Across a range of investment strategies, we deploy capital with the goal of delivering market leading investment results to our capital partners. Our trading and research team constantly originates, analyzes, and evaluates new opportunities, using qualitative and quantitative methods. Areas of focus include rates, currencies, sovereign bonds, and inflation. At the end of 1990 he founded his own hedge fund, Citadel, which now has more than 1,000 employees. Citadel’s quantitative strategies team seeks to generate alpha by combining rigorous fundamental research with mathematical and statistical models to identify and execute on investment opportunities. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. FOR CITADEL TO be referred to today as a hedge fund is something of a misnomer. In his sophomore year…Griffin launched a convertible-bond arbitrage fund. See extra: Billionaire Ken Griffin’s Citadel has a sprawling alumni community of greater than 80 hedge funds. Dr. Johnny Kang started earlier this month as an MD in New York. Pablo Salame is Head of Global Credit at Citadel, responsible for leading the firm’s developed and emerging market credit strategies and convertible arbitrage activities. Please try again. Check out our unique listing. Jul 2019 – Present 11 months. 131 South Dearborn Street, Chicago, IL 60603 USA. There was an error with your request. Pablo Salame is Head of Global Credit at Citadel, responsible for leading the firm’s developed and emerging market credit strategies and convertible arbitrage activities. Citadel LLC (formerly known as Citadel Investment Group, LLC) is an American multinational hedge fund and financial services company. Within a broad range of investment strategies, we deploy our capital with the objective of generating market-leading investment returns. Dr. Johnny Kang started earlier this month as … Have a confidential story, tip, or comment you’d like to share? As one of Citadel’s longest standing strategies, our team’s investment process blends quantitative analysis, fundamental research, and experienced judgment. Citadel’s commodities team seeks to generate alpha through directional and relative value strategies across both physical and financial commodities markets. He first joined Citadel in 2011 as a Senior Portfolio Manager focused on global linear relative value strategies. 20 August 2019. Citadel’s credit team seeks to generate alpha by focusing on the relationships that connect corporate bonds, convertible bonds, bank debt, credit derivatives, credit indices, and equities. The tsunami that threatened to capsize Citadel was the massive global credit freeze. He also has his bachelor’s in finance and engineering from the University of Pennsylvania. Operating primarily across the U.S. and European corporate universe, the group’s core strategies integrate structural, statistical, and fundamental approaches to investing across the corporate capital structure. Casner can also be in command of the agency’s convertible arbitrage technique. Kang filled the gap by earning his PhD in business economics and his M.S. Get the latest career advice and insight from eFinancialCareers straight to your inbox, Please click the verification link in your email to activate your newsletter subscription. We focus on the equity, fixed income, commodities and currency markets globally, concentrating on the United States and European equity markets. We evaluate opportunities in natural gas, power, crude, and refined products, and agriculture, primarily in North America and Europe. Griffin's first focus was on convertible bond arbitrage… Mr. Barrack leads the investment teams trading natural gas, power, crude and refined products, agriculture and other commodity products. Ideas are not enough in the pursuit of successful investments. Goldman Sachs loses top quant trader to Citadel after just six months, Citadel hires former BAML strat with eye-opening educational background, The most hated office clichés among engineers and developers, Do you need a PhD for a quant job in finance? Convertible arbitrage is a type of equity long-short investing strategy often used by hedge funds.. An equity long-short strategy is an investing strategy which involves taking long positions in stocks that are expected to increase in value and short positions in stocks that are expected to decrease in value. It involves the simultaneous purchase of convertible securities and … This involves going long the Convertible Bond and shorting the underlying stock according to the calculated delta-hedge. Institutional Hedge Fund Manager of the Year. Contact: btuttle@efinancialcareers.com Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by actual human beings. by Beecher Tuttle 20 August 2019. Prior to assuming his current role, he served as a Portfolio Manager in the Global Credit group focused on convertible bonds and capital structure arbitrage. Mr. Lin received a bachelor’s degree from Harvard College. The strategy is successful because as the equity declines, the convertible bond begins to and . Citadel adds quant research head for convertible arbitrage team. Operating in a culture of excellence, and leveraging long-term relationships with thousands of companies and institutions, we move swiftly and deliberately to capitalize on opportunities having the greatest potential. by Navneet Arora Associate Trader Morgan Stanley. He also serves on Citadel’s Portfolio Committee. Citadel’s flagship funds gained 13.6% during the first six months of 2019, well above the average for similar multi-strategy hedge funds, according to Bloomberg. 2 years 3 months. Kang spent the last four years working on BlackRock’s systematic fixed income team as the global head of research and innovation. We join these techniques with an intense focus on understanding each market we trade, reflected in our ability to generate supply and demand balances for each commodity or product. Established in 2018, Ashler Capital is a value-oriented market-neutral equity business that combines a fundamental investment approach and strong relationships with management teams in an effort to achieve consistently high risk-adjusted returns through investments in undervalued public companies. Prior to joining Citadel, he was at Credit Suisse for 10 years where he most recently served as Head of USD Short-end and Basis Trading and as Head of Canadian Rates. Within CGE, our Primary Strategies team supports corporate capital formation by investing in initial and follow-on issuances of stock. Founded in 1990 by 21-year old Harvard University student, Ken Griffin, and initially based on a convertible bond arbitrage strategy, Citadel has consistently evolved in a manner that solidifies its reputation as one of the most legendary trading and asset management powerhouses of the modern era. 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