Three More Leave Citadel I-Bank

Jan 4 2011 | 1:59pm ET

Citadel Investment Group's investment-banking unit continues to hemorrhage top executives at an alarming rate, with three more exits to close out 2010.

Chris Boas, Brad Kurtzman and Carl Mayer have all left Citadel Securities, Bloomberg News reports. The exits bring the number of top executives who have left to nine in the last 15 months, and more than a dozen in the last few years, and follow a dozen layoffs of sales and trading staff in October.

It was also in October that Boas, head of credit markets, and Kurtzman, head of equity derivatives, took over for institutional sales chief Brennan Warble. Kurtzman, who began his Citadel career at the firm's hedge fund unit in 2006 before joining the bank in 2009, took over its derivatives operation just over two months ago as well.

Citadel is conducting searches to fill Boas and Kurtzman's posts. John Kilgallon will replace his old boss, Carl Mayer, as head of leveraged finance.

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