Is citadel just a quant shop?

Sorry if this is an extraordinarily retarded question, but given that most of my friends getting offers from citadel are cs/math/stats majors getting quant trader or researchers roles, I was wondering whether MM HF's like citadel (and to a lesser extent bridgewater) only hire people with a quant background or whether there exist roles at those firms for people from more traditional background from pe/ib or b school?

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Comments (8)

Sep 11, 2021 - 5:11am

nutmegger189

Your friends are probably getting offers from Citadel Securities which is the market maker arm of Citadel Group.

Citadel is the hedge fund arm which is multi-manager and multi-strat (so there is some quant here too).

Ok awesome, I know they are at citadel the hedge fund not the market maker. Does citadel (the hedge fund) engage in traditional L/S equity dtartegies and if so is there recruiting similar to other funds despite the fact they hire quants out of undergrad?

Sep 11, 2021 - 7:21am

Yes Citadel also employs traditional equity L/S strategies, not to mention surveyor capital which is a subsidiary fundamental L/S shop.

Other pod shops will similarly have quant and fundamental pods.

I'm not sure I understand your last question. What do you mean is the recruiting similar?

  • Analyst 1 in IB - Gen
Sep 11, 2021 - 8:47am

They do everything mate - takes 2 secs to find this info: https://www.citadel.com/investment-strategies/

Traditionally Citadel's other groups only recruited experienced professionals with relevant backgrounds. Now they have the Citadel Associate Program which does recruit on-campus.

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Sep 12, 2021 - 2:48pm

Having a look on LinkedIn at some of Citadel's employees, there are quite a few of analysts and some PMs with non-quantitative degrees such as English or Journalism. The bulk of degrees are Economics/Finance or Maths/Engineering. Fewer CS and Maths degrees than expected. Maths and Finance combined was quite common as well as Econometrics. I think like the whole industry, it is less your degree and more your university.

That being said looking on their careers site, for Traders it looks for quantitative degrees and economics and finance aren't listed as options.

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Sep 15, 2021 - 1:44pm

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