January 23, 2019 / 6:20 PM / 4 months ago

Citadel hires Goldman's Marcheggiano to beef up macro unit: sources

LONDON (Reuters) - Hedge fund Citadel has hired Gilberto Marcheggiano from Goldman Sachs Asset Management to join its global macro strategy team to help build a unit that takes financial positions based on forecasts about major macro events, sources told Reuters.

Marcheggiano, 32, will join in February as a London-based portfolio manager focusing primarily on Citadel’s discretionary macro investments in G10 markets, the sources said.

Macro strategies portfolio managers use anything from forecasts of interest rates to government policies or political changes to make decisions on whether to take long or short positions in financial markets.

Marcheggiano worked for six years at Goldman Sachs Asset Management where he was a managing director and was named head of cross macro investments in 2017.

Marcheggiano, who has also worked at the Bank of England as an economist, would report to Citadel’s macro strategies head Colin Lancaster who is leading the push into the business.

Lancaster has been on a hiring spree since joining Citadel at the end of 2017 and launching the macro strategies unit in 2018.

Other recent senior hires include New York-based senior portfolio managers Marco Birch and Eric Dannheim and London-based head of quantitative research for macro strategies Jerome Lebuchoux.

Macro strategies is one of two fixed income and macro businesses that manage capital for Citadel’s multi-strategy hedge funds.

Reporting by Pamela Barbaglia; Editing by Edmund Blair

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