JPMorgan quant research MD joins Citadel's energy team
One of the best areas to work as a trader in the past year has been commodities. With hedge funds, commodities trading houses and banks all competing for talent, headhunters say extravagant pay packages have been waved around to lure new hires.
Ken Griffin's hedge fund, Citadel has been leading the commodities charge. Its CEM (Citadel Energy Marketing) business still looks a top destination in 2023, having just attracted Simon Hurst, one of JPMorgan's commodities MDs.
Hurst has joined Citadel as head of engineering for CEM's physical gas trading team.
Hurst joined JPMorgan in 2008 from Morgan Stanley, where he was an executive director. His early career featured quant roles at Bankers Trust Australia and Macquarie, and he was one of the earliest graduates of an MFE style course, obtaining a PhD in financial mathematics from the Australian National University in 1997.
He's not the only member of CEM team to come from an investment bank, ex-Citi director Jie Zhou works on portfolio construction and risk management there, having joined the hedge fund early last year. Both men are based in Connecticut.
Citadel's natural gas investments were one of the things credited with generated huge profits for the fund last year. Having hired a team of meteorologists to predict changes in the weather, the fund is able to accurately predict demand for heating fuels.
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