Key Takeaways
- • Ken Griffin's Citadel hired two senior portfolio managers, Marco Birch and Eric Dannheim, from Louis Bacon's Moore Capital hedge fund to strengthen its macro strategies business launched in early 2018.
- • The hires underscore Griffin's strategic pivot to build a "rival macro business," targeting experienced talent from one of the industry's most respected macro-focused funds to compete in global macroeconomic trading.
- • Birch and Dannheim will report to Colin Lancaster, group head of Citadel's macro strategies division, and join the $30 billion hedge fund later in 2018 as senior portfolio managers.
- • The recruitment reflects intensifying competition among mega-funds to attract specialized macro talent, with Citadel leveraging its scale and resources to poach veteran managers from established competitors.
Summary
Billionaire Ken Griffin made two significant senior hires to accelerate Citadel's expansion into global macro strategies, according to Bloomberg. Marco Birch and Eric Dannheim, both veteran portfolio managers from Louis Bacon's Moore Capital hedge fund, joined Griffin's $30 billion Chicago-based hedge fund in late 2018 as senior portfolio managers. The pair were brought in to strengthen Citadel's macro strategies business, a division launched in early 2018 that Griffin identified as a growth area for the firm.
The appointments represent a deliberate strategy by Griffin to establish Citadel as a formidable competitor in macro investing, a specialty traditionally dominated by established players like Moore Capital. By recruiting experienced macro managers from a respected peer, Citadel signaled its commitment to building internal expertise rather than relying on external allocations or partnerships. Birch and Dannheim report directly to Colin Lancaster, who heads the macro strategies group, positioning them as key contributors to the division's investment decisions and portfolio construction.
The hiring also reflects broader competition dynamics in the alternative investment industry, where established mega-funds compete aggressively for specialized talent to diversify revenue streams and strengthen performance across asset classes. Citadel's $30 billion in assets under management provides substantial resources to attract senior talent, and the macro strategies division represents a differentiated growth vector for the firm. The timing of these hires, during a period of elevated market volatility and geopolitical uncertainty in 2018, underscored renewed institutional demand for sophisticated macro strategies and experienced portfolio managers capable of navigating complex global macroeconomic environments.
The appointments represent a deliberate strategy by Griffin to establish Citadel as a formidable competitor in macro investing, a specialty traditionally dominated by established players like Moore Capital. By recruiting experienced macro managers from a respected peer, Citadel signaled its commitment to building internal expertise rather than relying on external allocations or partnerships. Birch and Dannheim report directly to Colin Lancaster, who heads the macro strategies group, positioning them as key contributors to the division's investment decisions and portfolio construction.
The hiring also reflects broader competition dynamics in the alternative investment industry, where established mega-funds compete aggressively for specialized talent to diversify revenue streams and strengthen performance across asset classes. Citadel's $30 billion in assets under management provides substantial resources to attract senior talent, and the macro strategies division represents a differentiated growth vector for the firm. The timing of these hires, during a period of elevated market volatility and geopolitical uncertainty in 2018, underscored renewed institutional demand for sophisticated macro strategies and experienced portfolio managers capable of navigating complex global macroeconomic environments.
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