Hedge Funds

Citadel loses Youdarian

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Citadel recently named Mike Pascuti to the role of head convertible bond trader after the convertible trading chief, Ethan Youdarian, resigned. Julio DePietro, another senior Citadel convertible trader, has also decided not to return to the group after taking a sabbatical last year. The convertible group is part of the global credit team run by Dave Bunning.

Like Citadel partner Alec Litowitz, who left the firm last year, Youdarian and DePietro are thought to be considering their own hedge funds, but their non-competes mean that no new fund should be expected imminently.