Citi Equity Derivatives Head Yates Said to Join Two Sigma

Citigroup Inc.’s head of equity derivatives, Simon Yates, has left to join hedge-fund firm Two Sigma Investments LLC, a person with direct knowledge of the matter said.

Yates, 43, will become chief executive officer at Two Sigma’s securities subsidiary, the person said, asking not to be identified because the move hasn’t been announced. The unit runs an electronic platform that trades more than 200 million shares each day, according to its website. Yates will join Two Sigma in September, the person said.