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As part of Ken Griffin’s move to shut down most of his dream investment bank, Citadel Securities, he recently axed Jaine Mehring’s entire research team.Mehring, the former head of human capital management and development at Citadel Securities, isn’t alone in her jobless-ness.
More layoffs are expected at Citadel, which is in talks to sell its investment banking unit.
“[Citadel Securities is] also firing employees elsewhere in the investment bank, the people said.”
Mehring’s lay-off from Citadel probably isn’t as much an indication of her work as it is of the notoriously high turnover at Citadel Securities.
While it is unclear what her next career move will be, she does have quite a long list of accomplishments under her belt:
- She holds a degree in English from Yale.
- She got her MBA from Cornell, according to her LinkedIn.
- She was the global head of human capital management for the equities division at Lehman Brothers/Barclays Capital.
- Her career began in 1988 as a research associate for Sanford Bernstein covering the beverage and tobacco sector.
- At Prudential Securities in the early 90s she worked as a specialty chemicals analyst
- At Salomon Smith Barney she was a specialty chemical analyst, then she got promoted to managing director and became a U.S. food analyst.
- She believes food stocks could withstand an economic downturn: “Food stocks are viewed as ‘classically defensive,’ meaning that the earnings hold up well across a dip in the economy, across a recession,” Mehring said.
What’s more is Mehring was consistently named a top-tier analyst by Institutional Investor and Greenwich Associates.
Beginning in 2002, she was working for Citigroup. In 2005, when Citigroup’s head of research, Johnathan Joseph, left the firm Mehring was considered a likely successor, according to a Wall Street Letter (PDF). However, she did not receive the position, but she did work at as associate director of research.