Citadel Securities has hired Mayank Narang, a former senior business manager at Millennium Management, to join its Asia chief operating officer (COO) team as the market-making giant continues to scale its regional presence, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as revealing that Narang, who helped lead Millennium’s expansion across Asia over the past four years, is expected to start his new role with Citadel Securities in Hong Kong in early 2026. The move marks another strategic addition to Citadel’s Asia leadership bench, following a string of senior hires in recent quarters.
The appointment underscores Citadel Securities’ long-term commitment to Asia as it builds operational depth to support its rapidly growing business across equities, fixed income, and derivatives markets. The firm has more than doubled its headcount in the region over the past five years to over 270 professionals, with teams now spanning six offices and active in more than 10 markets.
Narang’s hire follows the recruitment of several other Millennium alumni, including Vikesh Kotecha, the hedge fund’s former Asia equities chief, who joined Citadel Securities last year as Asia-Pacific head. In April, the firm also brought on Redha Achour from RBC Capital Markets to head regional credit trading.
Founded by Ken Griffin in 2002, Citadel Securities is a dominant force in global market-making, executing more than $560bn in trades daily. It now accounts for roughly 23% of US equity trading volume and makes markets in over 1.3 million options across 20+ exchanges globally.
In Q1 2025, the firm reported record trading revenue and profits, with net trading revenue jumping 45% year-on-year to $3.4bn, and profit surging 70% to $1.7bn.
