Investment banking: Citadel builds cash equities and mortgages

Rivals question strategy; Institutional trading gains traction

 

Patrik Edsparr, former European chief executive for Citadel, now head of investment banking and the securities business, says the firm will continue to hire over 2010 as these businesses expand

“Clients are concerned that the big banks are in too many conflicting chairs at once”

Patrik Edsparr, Citadel

Having built out its high-yield sales and trading business last year, Citadel is now targeting the mortgage, rates and cash equities markets. Patrik Edsparr, former European chief executive for Citadel, now head of investment banking and the securities business, says the firm will continue to hire over 2010 as these businesses expand.

The firm has already hired staff for its mortgages business and will begin trading over the next month.

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