Chicago-based hedge fund Citadel Investment Group has hired Anand Parekh, managing director and head of Deutsche Bank's North America structuring group, which spans credit and interest-rate derivatives in New York. Officials familiar with the move are interpreting it as a signal that the USD8.5 billion fund is beefing up its structured credit presence, especially as it comes hot on the heels of Vladimir Finkelstein, derivatives researcher at Goldman Sachs, joining in a senior credit analytics position. Institutional Investor magazine's 2003 hedge fund ranking puts Citadel as the third largest hedge fund in the world.
Parekh has a strong reputation in the structured credit market and is known for working with exotic structures, said one official. Finkelstein is similarly well regarded as a credit analyst. Parekh, Finkelstein and Steve Bruce, spokesman at Citadel's public relations firm Abernathy MacGregor in New York, did not return calls.
Harriet Benson, spokeswoman at Deutsche Bank in New York, declined comment. Bruce Corwin, spokesman at Goldman Sachs in New York, said Finkelstein has not yet been replaced.
