Hedge fund giant Citadel has experienced further turnover in its business development ranks, with Laura Sterner resigning as Head of Business Development for the firm’s Global Equities unit after only two months, according to a report by Business Insider.
The report cites unnamed sources familiar with the matter as confirming the departure of Sterner just two months after joining to replace Alex Topkins who left the division in April. The departure follows a brief tenure at a healthcare investment firm earlier this year and a decade at Point72, where she served as chief fundraiser.
The move comes shortly after Citadel’s top quantitative recruiter, Ansh Kalra, left for Balyasny Asset Management, highlighting ongoing churn in the firm’s BD and recruiting teams. The reasons behind Sterner’s rapid exit were not immediately clear.
Citadel, which oversees around $69bn in assets, is amid a broader industry-wide battle for talent, with hedge funds competing aggressively to hire top portfolio managers and research talent.
