Citi’s Equity Head Departs For Citadel

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Citadel

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Citadel has hired Dan Baranovsky, who previously led North American equity derivatives and cash trading at Citigroup, as a Portfolio Manager in its equity volatility operation, according to a report by Insider.

The move, confirmed by Citidel, makes Baranovsky the second portfolio manager that the $35 billion hedge fund has hired in April for the fast-growing unit. Bloomberg previously reported that David Kim joined Citadel earlier this month, leaving behind his position as the Head of Equity Client Solutions at Bank of America.

As Insider noted in August 2020, Citadel's credit unit building out an equity derivatives strategy under Pablo Salame, who joined Citadel from Goldman Sachs in October 2019.

Baranovsky’s exit from Citi also markes a continued exodus of high profile talent from its derivatives unit. The bank’s Managing Director in flow volatility trading, Seok Yoon Jeong, and an equity derivatives trading Director, Benjamin Texier, have also recently departed the company.

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