Moves: Hedge fund Citadel taps Finkelstein for senior portfolio manager role
05/02/2024 21:08
(Adds context, details in paragraphs 4-13)
By Nell Mackenzie
LONDON, Feb 5 (Reuters) - Citadel has hired Sam
Finkelstein, who previously worked at Goldman Sachs Asset
Management, as a senior portfolio manager to lead a new
development program for its fixed income and macro business, the
hedge fund told Reuters on Monday GS.N .
Finkelstein will manage risk and trade in the hedge fund's
global fixed income and macro business in the newly created
role. He will also oversee and advise a talent development
program at the $56 billion hedge fund for aspiring portfolio
managers, Citadel added.
More than half of Citadel's portfolio managers taking
long and short bets on stocks were promoted through similar
internal development programs, the hedge fund said.
Finkelstein, who will be based in London, declined to
comment.
He worked at Goldman Sachs Asset Management as its chief
investment officer of fixed income and liquidity solutions. He
started his career at Goldman Sachs in 1997, according to a
staff biography.
Citadel, unlike some multi-strategy hedge funds, does not
work in so-called "pods" which are not allowed to communicate,
but rather in teams collaboratively.
Jonathan Bayliss, also a senior portfolio manager at
Citadel's Global Fixed Income (GFI) fund, will step back from
actively managing risk and trading in order to support the new
global fixed income program in an advisory role, Citadel added.
Bayliss will also take on responsibilities to strategically
grow the team, help manage its risk policies, regulatory
affairs, stakeholder relations and aid with talent development
projects, the hedge fund added.
The hedge fund hired Bayliss in 2019 after he led a
macroeconomic rates desk at Goldman Sachs Asset Management. He
also previously worked at another hedge fund, Tudor Capital, his
LinkedIn page says.
Bayliss also declined to comment.
Citadel's Global Fixed Income fund returned 1.7% in January.
Citadel's flagship Wellington fund posted a 1.9% return during
the same period, said a source familiar with the matter said.
Last year, Citadel's Global Fixed Income fund posted a 10.9%
return for 2023, they said.
Hedge funds do not reveal their performance numbers for
regulatory reasons.
(Reporting by Nell Mackenzie; Edited by Dhara Ranasinghe and
Paul Simao)
((Nell.Mackenzie@thomsonreuters.com; https://twitter.com/nellmooney;))