Citadel I-Bank CEO Out Amid Differences With Griffin

May 4 2010 | 1:32pm ET

The revolving door at Citadel Investment Group’s investment-banking unit continues to spin with the exit of the unit’s global CEO.

Patrick Edsparr was “let go” from the firm last week, The Wall Street Journal reports. In an increasingly familiar tale told about now former executives at Citadel’s banking unit, Edsparr and Citadel chief Kenneth Griffin reportedly didn’t “see eye to eye,” so Griffin asked him to leave.

Edsparr, who joined Citadel in 2008 from JPMorgan Chase as CEO of Citadel Europe and head of its global fixed-income business, has told associates that he was leaving the firm in recent days. He took over as global CEO of Citadel Securities in October after the group’s president, Rohit D’Souza, resigned. Disagreements between D’Souza and Griffin were blamed for his exit.

In recent months, as executive after executive has left Citadel, Edsparr has seen his responsibilities grow. In January, he took over from investment banking chief Todd Kaplan, who resigned after less than nine months on the job.

Citadel has also bid farewell to institutional trading head Peter Santoro and convertible bond chief Brad Begle in recent months.


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