By Nell Mackenzie
LONDON (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 .
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.