Hedge fund Citadel picks up top salesguy from Morgan Stanley
Citadel started this year by betting big on its energy trading business, and CEO of Citadel Energy Marketing.– former Morgan Stanley alum Jay Rubenstein – seems to be bringing in people with the same pedigree as him to bolster the business.
Patrick Reichert, for instance. Reichert was at Morgan Stanley for 7 years before leaving as an executive director. He joined the bank from Mercuria, the oil & gas trader, where he worked the power trading desk – fortuitously, as he’s now head of Structuring and Portfolio Optimization for Citadel Energy Marketing. He moved to Houston for Morgan Stanley, and is based there for Citadel, too.
As we’ve noted multiple times, everyone in banking seems to be itching to join a hedge fund (seriously – is there anyone even left in bank sales & trading divisions at the point?), but Citadel is on more of a war path than others.
It’s aggressively added people from Goldman Sachs (in Hong Kong and New York), as well as UBS and even Shell (the oil supermajor). Hell, it even brought in a former nature guide – canoeing and backpacking and all that stuff – as an analyst.
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