Citadel expands quant team, recruits from AI labs
US hedge fund Citadel is expanding its quantitative investment unit, Global Quantitative Strategies. The firm is recruiting researchers from AI labs including Google DeepMind amid increasing competition for talent.
Citadel, a US-based hedge fund, is expanding its Global Quantitative Strategies unit, which focuses on quantitative investing. The roughly 180-person team plans to increase its headcount by a double-digit percentage over the next year.
The firm has also launched a new systematic global equities trading team led by Alexey Poyarkov. Poyarkov joined Citadel from TGS Management, where he served as a quantitative researcher. This expansion highlights the growing competition for top research talent between financial firms and technology companies.
Citadel, which manages approximately $76 billion in assets, is actively recruiting from leading AI labs, including Google DeepMind. Navneet Arora, head of Global Quantitative Strategies, stated that artificial intelligence is transforming researchers' work methods rather than replacing them.
The move reflects a broader hiring trend in the financial industry, with other hedge funds also seeking talent from DeepMind. Citadel also requires some investment staff to sign non-compete agreements lasting up to two years.