Citadel is consolidating its international equities operations under Nabeel Bhanji as the $77bn-plus hedge fund looks to increase the amount of capital it can deploy across European and Asian markets, according to a repot by the Financial Times.
Bhanji, who joined Ken Griffin’s firm from activist investor Elliott Management in 2024, will take responsibility for the combined international equities operation following the departure of current head Drew Gillanders.
The restructuring brings together Citadel International Equities, the firm’s established long-short stock-picking division, and Strategic Equity Investments, a newer business launched last year under Bhanji’s leadership.
Citadel said the combined operation would allow it to build on its expansion outside the US and benefit from Bhanji’s investment experience and focus on developing portfolio management talent.
The changes come as Citadel seeks to put more capital to work in Europe and Asia, where the firm has been expanding its investment activity from bases including London, Hong Kong and Singapore.
Strategic Equity Investments has given portfolio managers greater flexibility to establish larger positions and hold them for longer periods. Managers have also been encouraged to engage directly with the management teams and boards of companies in which they invest.
The approach has been described as “constructivist” and falls short of the more aggressive activist campaigns associated with Bhanji’s former employer.
Bhanji spent more than a decade at Elliott, becoming a portfolio manager and equity partner and working on several of the firm’s major international investments. His experience included campaigns involving London-listed mining group Anglo American and Japanese technology company SoftBank.
