After kicking ass and taking names last year (+24%) and so far this year (+9%), Citadel is looking to expand its Global Equities strategy and is bringing back a former co-head of Equities Jeff Runnfeldt to lead the effort. He will run the group out of the SF office but I'd imagine they're hiring in all 3 US offices (SF, NYC, Chi). A little birdy told me the main reason for doing this is that a lot of senior analysts have left because there wasn't enough PM turnover - many left for other HFs where they could take a PM role and increase upside.
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Been wondering about this - how does another fund go about verifying the track record of these senior analysts at Citadel when vetting them for PM. As an analyst looking to make the jump how do you prove you didn't just make up your track record?
It's a good question. Performance of the firm or individuals is proprietary and no firm will release that information. One thing the hiring firm CAN verify is salary + bonus numbers, which hopefully serve as a proxy for performance. Also could check the previous firm's 13-F to see long holdings, talk to the Street to see what their opinion of the guy/gal is, etc.
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