Another Senior Management Departure at Citadel Investment Group
|May 5th, 2010||
|Patrik Edsparr, the head of Citadel Investment Group’s securities division, has departed from the firm after differences of opinion with Citadel’s founder Kenneth Griffin regarding corporate strategy and firm culture. Mr. Edsparr was hired 2 years ago as part of Citadel’s plan to transition into a full-service financial firm that provides investment banking services among others offerings. Edsparr was promoted to global chief executive of Citadel Securities in 2009 before beginning to butt heads with senior managers in Citadel’s asset management and securities divisions. Mr. Griffin notified Citadel executives through an internal memo that he had asked Mr. Edsparr to leave the firm.|
Prior to joining Citadel, Mr. Edsparr ran foreign exchange, securitized products and principal investments at JP Morgan Chase & Co, where he worked for 12 years.
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