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Citadel Hires Balyasny's Lancaster for New Macro Trading Unit

Citadel Taps Balyasny's Lancaster for New Macro Trading Unit

(Bloomberg) -- Colin Lancaster, who is leaving Balyasny Asset Management, is joining Citadel to build a new macro trading unit in London as the $27 billion hedge-fund firm expands.

Lancaster, who was the head of global macro strategies and co-head of Balyasny’s London operations, will start at billionaire Ken Griffin’s firm later this year, according to Gerald Beeson, Citadel’s chief operating officer.

“He will recruit and bring portfolio managers and analysts on the platform and manage them, which is a similar model we use in other businesses at Citadel,” Beeson said Wednesday in a telephone interview. “Colin will be launching a second effort for us based in London.”

Citadel’s current global fixed-income and macro-trading investment unit, led by Edwin Lin, will continue to run money from the U.S. The firm has been boosting staff at a time when large industry peers such as Tudor Investment Corp. and Brevan Howard Asset Management have reduced their workforces after outflows. Last year, the firm added more than 30 people to its Surveyor division and hired 17 money managers from Visium Asset Management’s multistrategy fund.

“I am excited about the opportunity to join Citadel’s tremendous platform,” Lancaster said in an emailed statement provided by Citadel. “I look forward to building a highly successful business for the firm over the years to come.”

--With assistance from Saijel Kishan

To contact the reporter on this story: Nishant Kumar in London at nkumar173@bloomberg.net.

To contact the editors responsible for this story: Neil Callanan at ncallanan@bloomberg.net, Josh Friedman, Margaret Collins