Multi-strategy hedge fund major Citadel has appointed Tom Nutt as a partner and portfolio manager in its European natural gas business, underscoring the hedge fund’s push into energy trading, according to a report by eFinancial Careers.
Nutt joined the firm this month from Shell, where he spent nearly nine years trading European gas. His elevation to Partner was confirmed via a Companies House filing, with the average partner at Citadel Hedge Fund Management Europe LLP having earned $21m in 2024.
Nutt replaces former gas trading partner Eike Schick, who departed in June to study psychology, while Adam Frame, another energy portfolio manager, will retire at the end of the year. Nutt will be supported by Benjamin Hillyard, an Oxford alumnus who previously won Citadel’s datathon in 2019.
Citadel recently acquired FlexPower, a Hamburg-based power trading company, while competitors including Balyasny, Qube, Millennium, and Jain Global have also been expanding physical energy trading teams. Jane Street announced plans to enter the physical gas market last week.
