Citadel Securities, the market-making business launched by Citadel founder Ken Griffin, has hired a former compliance executive with as robust an educational background as you’ll see to help manage supervisory responsibilities for equity trading. Stan Yakoff started this week in New York.
Yakoff’s eclectic educational and professional background appear to fit what sounds like an equally eclectic role. He holds a J.D. in law from Fordham University along with three separate master’s degrees from Stevens Institute of Technology – one in engineering management, one in pharmaceutical manufacturing engineering and one in technology, policy and ethics.
Yakoff spent the last five years as a compliance officer at hedge fund Marshall Wace, previous to which he worked at Knight Capital Group in a similar role focusing on algorithmic trading, market structure and surveillance. He is certified in risk and information systems control (CRISC) and is a certified fraud examiner. Yakoff is also an adjunct professor at his alma mater, Fordham University School of Law, where he teaches quant trading and U.S. market structure regulation. But he himself is not a quant trader – and his new position doesn’t fall under compliance, either, according to a source. Rather, he’ll be involved in the supervision of equity trading desks at Citadel Securities.
Griffin's hedge fund business has a bit of a history of bringing on highly-educated people and finding a role for them. In February, Citadel hired former State Street managing director Denis Vaskov, who was previously an attorney managing litigation and M&A transactions at Gazprom Media before getting his MBA and taking a job at McKinsey & Co. He now works within Citadel’s technology department. And up until late last year, Citadel employed Juliette Han, who has a PhD in neuroscience from Harvard to go along with master’s in physiology from UCLA. She was the chief of staff to the hedge fund's chief people officer until she departed in October. She now holds a similar role at Two Sigma.
Citadel Securities declined to comment on the hire. Yakoff didn't respond to a request for comment.
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