Following last year's exits, Citadel has parted company with another portfolio manager: Frederico Massote is understood to have left the hedge fund.
Neither Citadel nor Massote commented on the departure, which is understood to have happened in recent weeks.
Massote joined Citadel from Deutsche Bank (where he worked in the São Paulo office) in October 2014. He spent nearly two years at Citadel in London before moving to the hedge fund's New York office. It's not clear where he's going next. Industry sources suggest Massote was let go.
Massote's exit comes after Antonio Fortes left Citadel for Exoduspoint in November, and after Diego Megia left for Millennium. Uberto Palomba, another ex-Citadel portfolio manager, is expected to join Millennium in 2019.
Citadel has also been hiring. The fund is understood to have quietly recruited Harvinder Sian, Citi's global head of G10 rates research. Citadel's flagship Wellington fund returned over 9% last year.
Changes at Citadel come as quant fund AQR is reportedly cutting staff. They also come as BlueCove, a new fixed income quant fund, is doing some big hiring.
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