As Citadel Securities expands, people keep migrating from Goldman Sachs

efinancialcareers.com:

Citadel Securities has got some big aspirations.Bloomberg reported earlier this month that the electronic trading firm would like to offer a white labelled trading service to banks that presumably would no longer run trading operations of their own. In return for a fee, the vision seems to be that Citadel Securities would manage technology, order analytics and execution. Banks would just need to plug in the clients.

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Citadel Securities isn't commenting on whether this is the case, but if it is, the firm will have no problems understanding what banks need for their trading operations. — Many of its employees have banking backgrounds. Quite a few have previously worked for Goldman Sachs.

Citadel Securities' biggest Goldman Sachs hire this year isJim Esposito, the former co-head of global banking and markets at Goldman Sachs. Esposito is joining Citadel Securities as president, to help expand into new markets with new clients in September. However, Citadel Securities is also stocking up on other more junior ex-Goldman Sachs staff in the meantime.

In London, it has just hired Kristina Kravchenko, a former executive director at Goldman who joins as a senior trader on the delta one team. Kravchenko had been at Goldman for nearly six years. In New York, Citadel Securities recently added Jeff Eason, a former Goldman VP in investment research. Eason joined as head of investment grade research as the firm builds out its fixed income trading business. 

Citadel Securities itself isn't immune to losing staff, though. Francois Jeulin its Hong Kong-based head of index arbitrage left for Qube in March. A former senior quant trader went to Jane Street in May — but only have a two year