Edsparr to join Citadel

Chicago-based hedge fund Citadel has hired JP Morgan's head of rates, Patrik Edsparr. He will join Citadel as the chief executive of Europe and also lead the firm’s global fixed income business, including securitised products.

At JP Morgan, Edsparr was appointed head of rates and securitisation products in January 2006 after the US bank shook up the structure of its senior management. When JP Morgan separated its currencies and commodities business in July 2007 in an attempt to improve client coverage and execution, Edsparr was given the responsibilities of overseeing the bank’s G10 currencies business.

He will divide his time at Citadel between London and New York.

It is as yet unclear who will succeed Edsparr. Chris Willcox in London and Matt Zames in New York, co-heads of global rates and currency trading excluding Asia, including Japan, are thought to be strong contenders. Troy Rohrbaugh, London-based head of global FX options and head of FX trading, and Ray Eyles, co-head of global energy sales and trading in London, are also thought to be in the running.

JP Morgan confirmed the departure but declined to comment on Edsparr's successor.

See also: JP Morgan breaks up currencies and commodities group
JP Morgan reorganises US operations after trading losses