Citadel promotes Salame to co-CIO as Yeh plans to retire

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BOSTON (Businesshala) – Citadel is promoting Pablo Salam, one of Wall Street’s foremost traders, to become co-chief investment officer of the $43 billion hedge fund next year when James Ye retires.

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Salem, who joined Citadel in 2019, will share the position with firm founder Ken Griffin and retain his role as head of global credit, Citadel said in a statement.

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He joined Goldman Sachs where he started as an emerging markets trader and rose to co-head of global markets and vice president of the firm.

Yeh, who is currently chairman and co-chief investment officer with Griffin since 2019, joined in 1993. He retired from the citadel in 2013 and returned in 2017.

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Yes, who has a Ph.D. in physics, the firm said on its website, helped build Citadel’s statistical arbitrage business and pushed the firm’s expansion into new strategies.

“James is responsible for much of Citadel’s success. His commitment to recruiting and mentoring so many members of our exceptional team is undoubtedly his greatest legacy,” Griffin said in the statement.

Reporting by Svea Herbst-Bellis; Editing by Cynthia Osterman

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