Citadel hires MD from JPMorgan's fintech to run complex global team
JPMorgan might be struggling to turn a profit with its investment management fintech, Nutmeg, but its employees seem to be appreciated on the street. A managing director within the team has recently been poached by hedge fund Citadel for a rather complex role.
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Gary Chan has joined Citadel in New York as its global head of operations, reporting to chief operations officer Gerald Beeson. His role is thought to encompass the entire post-trade process, all the way through to the posting of accounting records. He will be managing a global team as part of this. At Nutmeg, Chan was COO of the fintech's brokerage business.
Chan spent 11 and a half years across JPMorgan and Nutmeg. He previously served as a blockchain advisor, focused on central bank digital currencies, security underwriting, and intraday repo. He also previously worked in the bank's strategy and growth office. Earlier in his career, Chan was a VP at Goldman Sachs and an ED at UBS.
Chan also has a background in market utilities. Prior to joining JPMorgan, he spent four years as an MD and head of product management for fixed income clearing at the Depository Trust and Clearing Corporation. Late last year, Citadel hired another clearing specialist, Gerald Walker, from HFT firm Tower Research Capital.
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