Two Sigma product head resurfaces at Citadel
Two Sigma may have previously been divided between its quants and engineers, but it employed more than just those two factions. Thársis Souza was an SVP of product at the fund; he departed at the peak of its founders' squabbles and has resurfaced after a year-long gardening leave period at another hedge fund: Citadel.
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Souza has joined Citadel as its head of product for equities, based in New York. He previously spent four years in Two Sigma's product team, serving as VP then SVP of product for modelling engineering. Before that, Souza worked at an AI startup, Yewno, co-founding its financial services vertical and serving as a VP of product development.
On the r/quant subreddit, people who claim to be Two Sigma product managers say the work there is "super interesting," and that a "surprising number of the PMs ha[ve] fairly quant-like backgrounds," which suggests the product team might have aligned more with John Overdeck and Two Sigma's quants. They also say pay can vary and is team dependent; on Levels.fyi, product manager total compensation figures since 2023 range from $265k to $600k.
Product people are also well-loved at both Citadel and its sister company, Citadel Securities. At Citadel Securities, the product team consists of 15 product managers and function-specific COOs and is thought to have a significant impact across the firm. It's not clear how large Citadel's product team is.
Citadel declined to comment.
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