Photo: Courtesy of Bloomberg
Ken Griffin just added five new managing directors to his securities business.The additions will “bolster trading of high-yield bonds, aviation and infrastructure-related debt,” according to the Bloomberg wire service.
John Covello, Kevin Malone and Scott Sodokoff came from Piper Jaffray. The trio will trade and research bonds from
transportation, utilities and energy companies.
Todd Bondy of Goldman Sachs and Michael Smith, a former Wachovia man, will trade high-yield bonds.
Citadel’s securities unit, which Griffin launched in 2008, has suffered from a series of high-profile departures in the last few months.
The heads of credit markets and leveraged finance Chris Boas and Carl Mayer respectively, quit at the beginning of the year.
As for the new hires, Scott Sodokoff and John Covello were hired by Piper Jaffray in 2008 as part of an expansion of the aircraft finance team. Sodokoff was previously a managing director and senior trader at Bear Stearns, as was Covello.
Kevin Malone has kept his online profile pretty low, as has Goldman’s Todd Bondy and Wachovia’s Michael Smith.
Let’s see if they stick around. Citadel is famous for its high turnover rate.
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