[credit provider=”HWS” url=”http://www.hws.edu/dailyupdate/NewsDetails.aspx?aid=13068″]
The co-head of Citadel’s investment bank, Craig Stine, has quit Ken Griffin’s firm, Bloomberg reported.That’s “the 10th high-level exit in less than two years.”
It’s a legitimate exodus. Let’s count the 10 people who left.
A banker who worked for Stine, Tim Devine, also quit. (2)
Todd Kaplan, who used to run the unit, quit in January. (3)
Maier was installed after Patrik Edsparr was fired last May. (4)
And Esparr was installed after Rohit D’Souza, who Ken Griffin recruited specifically to build the new investment bank business within Citadel, left in October of 2009. (5)
The co-head of derivatives trading, Chris Boyle, left in October last year. Brad Kurtzman then took over Boyle’s job. Then he left in January, along with Chris Boas, who ran credit markets, and Carl Mayer, who ran leveraged finance. (6, 7, 8, 9)
Before he signed up with Citadel in 2009, Stine worked for 18 years at Citi (and Salomon Brothers). He earned his MBA from Temple University in Philadelphia.