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The top Citigroup stock trader just landed a huge role at a $5.7 billion hedge fund
(Arnd Wiegmann/Reuters)
The headquarters of the Swiss bank UBS in Zurich.
UBS O'Connor, the $5.7 billion hedge fund unit housed by UBS, has hired former Citigroup trader Kevin Russell to be chief investment officer, according to people familiar with the matter.
He will join the firm in January and report to Dawn Fitzpatrick, head of O'Connor, the people said.
Business Insider reported Monday that Russell had left his role as global head of equity trading at Citigroup.
He was promoted to that role at Citigroup last year, replacing Mike Pringle, who also left the bank to take a role at a hedge fund.
Russell had been responsible for Citigroup's proprietary trading business in the US from 2007 to 2011.
O'Connor started out in the 1970s as a derivatives and market-making specialist. It subsequently became a part of Swiss Bank Corp. and UBS, and it is now housed in UBS' investment bank.
It runs global long/short equities, long/short credit, merger arbitrage, and convertible securities strategies.
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