Questions about Trading roles at Macro HF (e.g. Citadel Global Fixed Income)

Hi,

I am looking to learn more about (non-execution) trading roles in macro hedge funds such as Citadel Global Fixed Income. There have been pieces of information inadvertently scattered around different threads, but am curious to learn more (and centralize that knowledge) after reading some job descriptions for investment & trading roles.

I know the general advice is to 'ask people who work there', but unfortunately I don't know anyone on the HF side; I only know people who have gone to other HFs or Citadel Securities (the market making & prop trading firm). Would greatly appreciate any insight to the below questions:

Questions:

1) How are the asset classes split up (if at all) amongst the teams? I know it is multi-manager, so I assume there are a number of portfolio managers, each of which is allocated capital to invest. Are certain PMs assigned to individual asset classes/certain mandates (e.g. FX, rates, mortgages, etc.), or is it entirely up to them?

2) What does a team structure look like? How many non-execution traders (don't know if that is what their title is) would an average team have?

3) What does an actual day look like (for a junior)?

4) What types of quantitative skills would one use? The job posting lists educational background along the lines of 'Advanced training in Applied Math, Engineering, Statistical Modeling, Calculus, Computer Science, Physics or related disciplines'. Are these backgrounds actually required/useful, or is an economics grad with basic math understanding better suited to the role? That is, I am trying to understand whether the ideal candidate is someone who:

(a) enjoys quantitative problem solving, and wants to apply it to financial markets, but doesn't go to sleep dreaming about macroeconomics; OR

(b) someone who loves macroeconomics, but can run a linear regression when required 

I have a few other questions, but I'll start with the ones above.

Comments (4)

Nov 25, 2022 - 2:24am
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