Ken Griffin’s $68bn hedge fund firm Citadel is pushing deeper into Asia-Pacific commodities markets with the launch of an Australian trading desk, anchored by the hire of Keith Handbury, a senior trader from Shell, according to a report by Bloomberg.
The report cites an unnamed person familiar with then matters revealing that Handbury is set to join Citadel in Brisbane next month as a Portfolio Manager focused on electricity-related commercial paper and derivatives. He will be joined by an analyst, with further hiring planned as the team scales. Citadel declined to comment.
The move marks the latest step in Citadel’s expansion of its commodities trading platform, which now numbers more than 260 investment professionals and nearly 100 engineers across 12 offices worldwide. The division is active in natural gas, power, environmental products and weather markets, with a stated focus on providing risk management solutions to energy producers and consumers.
Citadel has been steadily building out its Asian presence. Last year, the firm recruited Hironao Sakata, formerly head of Japan commodities sales at Morgan Stanley MUFG, and acquired Tokyo-based Energy Grid Corp, a power trading and sales business.
