Patrick Edsparr is out.
Citadel spokeswoman Katie Spring told the Wall Street Journal Edsparr was “let go” from the firm within the last two weeks.
His departure is not surprising.
Citadel has a notoriously high turnover rate. Two big execs left the firm within two months of each other – Peter Santoro and Rohit D’Souza last year. And another top executive, Todd Kaplan, left the firm in January.
But it’s shocking how quickly Edsparr was fired. He left JPMorgan just two years ago in March to take over their European business as CEO. And the hedge fund had been making a comeback after a major crash in 2008. Here’s his cached profile on Citadel’s website.
Maybe it has something to do with the legal drama that ensued after Citadel poached Edsparr from JPMorgan. First Edsparr sued JPMorgan for his bonus, presumably eating up company time. Then JPMorgan sued the recruiting agency that helped Citadel steal him away.
Wonder what he’ll do next!