Citadel hires Morgan Stanley's former head of commodities

NEW YORK (Reuters) - Citadel, the Chicago-based hedge fund giant, has hired former Morgan Stanley commodities trading chief Jay Rubenstein, a Citadel spokeswoman said on Monday.

Rubenstein is expected to join the firm next year and will report to Sebastian Barrack, Citadel's head of commodities, who leads the investment teams trading energy, agriculture and other commodity products, spokeswoman Megan Ingersoll said.

Citadel, which had about $35 billion in assets under management as of Oct. 1, practices a so-called multi-strategy array of bets on stocks, bonds, commodities and other securities using teams of traders.

Its flagship Wellington fund is up 21.2% this year through Nov. 30, according to a person familiar with the matter.

Ingersoll declined to comment on performance.

Rubenstein joined Morgan Stanley in 2007 as a power trader and was named global head of commodities trading in June last year, according to his LinkedIn profile.

Rubenstein and another top executive Nancy King, global head of commodities, left Morgan Stanley earlier this year over what sources said was a breach of compliance policy on communication tools.

While the bank did not find any wrongdoing, the use of those communication channels went against policy, sources have said.

(Reporting by Devika Krishna Kumar in New York, Editing by Chizu Nomiyama)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Death toll from migrant rush into Ceuta rises to 72
• Australia's home price retreat gathers pace in July, Cotality data shows
• Fires on more than 250,000 acres of Washington state prompt evacuations