Citadel Hires BlackRock’s Former Securities Lending Head Weaverby
Michael Weaver joins stock-trading unit Surveyor as COO
Kensington, Wellington hedge funds flat this year, person says
Michael Weaver, former global head of securities lending at BlackRock Inc., has joined Citadel as a chief operating officer in one of its stock-trading units.
Weaver, who left BlackRock in December, started at Citadel’s Surveyor Capital equity group on Monday, said Zia Ahmed, a spokesman for Citadel. Surveyor is one of four units that trades equities at the firm, with each feeding into its main Kensington and Wellington hedge funds.
The Surveyor unit has made more than 30 hires this year, mostly investment professionals, after cutting about 15 jobs in February amid losses in the Kensington and Wellington funds. They have recovered from the declines and are about flat this year through Friday, according to a person familiar with the matter who asked not to be named because the information is private.
The unit’s former head, Jon Venetos, left Citadel in January after 10 years. He was replaced by Todd Barker, who was co-head of equities in San Francisco.
Weaver, who had led global securities lending at BlackRock since February 2013, was replaced by Roland Villacorta. Villacorta had been head of portfolio management in the firm’s financial markets advisory group.