Citadel Securities ex-US systematic equities trading head reappeared at Jump Trading
It's not just hedge fund traders that have to deal with long non-competes. A head of trading from the hedge fund Citadel's sister firm, Citadel Securities, has recently resurfaced at a Rival after sitting out of the market for two years.
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Marcin Siwicki joined Jump Trading last week as a quantitative trader, based in Chicago. He previously spent seven years at Citadel Securities, which he joined as a systematic trader in 2016 and became head of systematic equities trading in the US just two and a half years later. According to FINRA's BrokerCheck tool, Siwicki left the firm in May 2023.
Before Citadel Securities, Siwicki spent six years at Chicago-based prop trading firm Spot Trading. The firm seemingly shuttered its operation a few years after he left.
Although Jane Street famously doesn't give its staff non-competes, it seems to be the outlier as other electronic trading firms follow Citadel Securities' example. Jump Trading itself has multiple staff on garden leave at the moment, including Sebastien Cortez, who it hired from SocGen in 2020. He went on gardening leave in February.
As well as hiring traders in more traditional asset classes, Jump is also moving back into crypto. Jump Crypto currently has four open listings, including production engineers for crypto trading infrastructure. The maximum available salary for roles in that division is $200k.
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