Citadel said goodbye to some big-name portfolio managers

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Hedge fund Citadel is understood to be parting company with some of its fixed income portfolio managers.

The fund has let go of Colin Lancaster, who ran its macro strategies unit after joining from Balyasny Europe Asset Management in 2017. Macro strategies is being combined with Citadel's global fixed income business, led by Edwin Lin, and Lancaster plus two members of his team (a portfolio manager and one other) are understood to be leaving while Lin will run the combined business.

Citadel declined to comment on the exits. Sources suggested Lancaster and his colleagues aren't the only PMs to have left the fund in recent weeks: David Levary, a portfolio manager who spent five years with the fund after graduating from Harvard is also undertood to have gone. Oliver Townsend, a portfolio manager who joined from Morgan Stanley in 2013, is understood to have left a few months ago.

Sources said Citadel's global fixed income fund was down 1.75% in August. However, the fund is still in positive territory for the year. 

Citadel has over 20 teams in its global fixed income business in total, so the exit of three portfolio managers, one head of business, and one other member of staff may not be consequential. 

Photo by Daniel Jensen on Unsplash

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