Citadel Adds RBS Loan Sales Exec. To I-Banking Unit

Jan 5 2010 | 12:59pm ET

Citadel Investment Group’s nascent investment banking venture has snagged Royal Bank of Scotland Group’s Art de Pena for its credit business.

De Pena will serve as a managing director in loan sales at Citadel Securities, based in New York, Bloomberg News reports. He was most recently head of loan sales at RBS.

Citadel Securities debuted in October, with the credit desk its first business line. The Chicago-based hedge fund giant has sought to expand its new investment bank as it seeks to become a full-fledged financial services firm.

The firm has been aggressively hiring in recent months, despite the departure in October of Citadel Securities chief Rohit D’Souza. Media reports indicate that Citadel founder Kenneth Griffin found D’Souza too “methodical” and wanted a stronger operator as it went into business. Citadel Europe president Patrick Edsparr now heads Citadel Securities.

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