Citadel Securities, the market-making firm owned by Citadel boss Ken Griffin has bolstered its institutional derivatives business with the hire of equity market’s forecasting veteran Scott Rubner from Goldman Sachs, according to a report by Bloomberg.
Rubner, who joins Citadel Securities as part of its expansion to compete directly with top-tier banks, will leverage the firm’s data resources to provide actionable insights and commentary to clients, according to Dave Silber, Head of Institutional Options at Citadel.
Rubner, who spent nearly a decade at Goldman Sachs as Managing Director for Global Markets and Tactical Specialist, and two decades studying the flow of funds, has gained a reputation for predicting key market inflection points.
In February, he correctly anticipated a slowdown in demand for US equities just before the S&P 500 hit its most recent record high. Since his forecast, the index has dropped 8.6%, and the Nasdaq 100 has fallen 12%, entering correction territory.
Alongside Rubner, Citadel has also made two key sales hires in its ongoing push to expand its footprint with larger institutional clients.
Kate Gandolfo, an Executive Director at JPMorgan Chase, will join in April, while Brian Connors, formerly of RBC Capital Markets, will come onboard later this month. Both will report to Jason Roelke, Head of Institutional Derivatives Sales at Citadel.
Last year, Citadel tapped Jim Esposito, former co-head of Goldman’s banking and markets division, to strengthen its institutional efforts and refine client offerings under the “One Citadel” initiative.
