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Citadel Securities poached UBS's top credit trading technologist

As we reported today, Mike Juma is leaving UBS in New York. He's joining Citadel Securities as it builds out its credit business. 

A spokesperson for Citadel Securities confirmed that Juma is joining in January 2024 as head of credit technology.

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Juma only spent a year at UBS, having joined as head of principal flow trading technology in November 2022. However, he previously spent two entire decades at Credit Suisse, where he was latterly head of global credit technology. Juma is understood to have been a popular figure at both Swiss banks, and his latest departure is thought to be a source of consternation.

Citadel Securities, meanwhile, is busy building its credit team. Bloomberg reported last week that it began making markets electronically in June 2023 under Bob Cariste, Morgan Stanley's ex-head of credit portfolio trading and systematic market making, whom it hired in 2022. In recent months, it's also hired Sam Berberian from Citi, Av Bhavsar from Goldman Sachs, and Matt Micheli and Jimmy Stewart (two of the highest revenue earners at Morgan Stanley).

Additional hires are in the pipeline. Vishnu Murthy, the former head of investment grade credit trading at HSBC is starting at Citadel Securities next month. And Jack McKillip, a managing director at Bank of America and David Moe, a sales director from Morgan Stanley, are starting with Juma in January. 

Citadel Securities places a big emphasis on the technology that's key to its electronic trading systems. Speaking last month, founder Ken Griffin said the firm is increasingly looking for problem solvers as AI is used to code. Further tech hires are expected as Citadel Securities continues to build its credit trading business.

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AUTHORSarah Butcher Global Editor

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