Yes, Citadel Securities hired the Goldman Sachs partner that vanished
When Nikhil Choraria disappeared from Goldman Sachs last month, the rumour was that he was joining Citadel Securities. We were given to understand that this was not so, but now we understand that it is. Surprise!
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Choraria is joining many former Goldman friends and colleagues at the electronic market firm, where we understand that he will be co-head of fixed income alongside Shyam Rajan, the global head of fixed income who once worked for Bank of America.
Choraria will be based in London and will report directly to Citadel Securities CEO Peng Zhao.
He will find many familiar faces about the place. Citadel Securities also employs Nohshad Shah, who was Goldman's former co-head of rates sales. It employs Frank Flight, a fresh faced strategist who writes densely worded opinions on the market. Further afield is Jim Esposito, the cheerful ex-wrestler who is now Citadel Securities' president after decades at Goldman Sachs.
Choraria was said to have been one of Goldman's top earning traders. Goldman Sachs is likely to miss him. Hopefully Goldman will not engage in tactics similar to JPMorgan, which is curtailing some of its interactions with Citadel Securities after its head of high touch equity sales trading was poached.
Citadel Securities has made various hires for its rates team. In February, it hired Andrew Buonauro from Squarepoint. Last March, Citadel Securities hired Keith Cynar from Goldman to run rates sales in the US.
It's not clear how Rajan feels about his new co-head. Rajan joined Citadel Securities in 2022 after a year at hedge fund LMR Partners and three years as an MD in rates trading at Bank of America. Choraria is the more experienced of the two.
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