Key Takeaways
- • Brevan Howard appointed Marouen Ben Othman as senior portfolio manager effective July 2026, recruiting him from Citigroup where he served as head of index flow trading in New York.
- • Ben Othman brings elite quantitative credentials, holding degrees from École Polytechnique and a DEA El Karoui in mathematics, alongside four years of recent experience at Citi managing equity index derivatives trading.
- • The hire reflects Brevan Howard's continued talent acquisition from major investment banks; Ben Othman previously worked at JPMorgan (before joining Citi in 2022) and Credit Suisse earlier in his career.
- • Citi's New York equity derivatives desk has experienced recurring talent outflows to hedge funds, including Seok Yoon Jong (departed 2021 for Brevan Howard, later moved to Millennium) and Etienne Lussiez (departed 2022 for Citadel Securities, currently on non-compete until December 2025).
- • Neither Brevan Howard nor Citigroup provided comment on the appointment or departure, limiting public disclosure of strategic rationale or compensation details.
Summary
Brevan Howard, the London-based alternative investment manager, has recruited Marouen Ben Othman from Citigroup as a senior portfolio manager based in New York, effective July 2026. Ben Othman held the position of head of index flow trading at Citi, a desk responsible for trading derivatives based on equity indices. His appointment marks another significant talent migration from major investment banking platforms to the hedge fund sector.
Ben Othman's professional profile underscores the caliber of talent Brevan Howard targets. He is a mathematics graduate from France's École Polytechnique and holds a DEA El Karoui degree, credentials that position him among France's most advanced quantitative practitioners. At Citi, he completed four years in the New York office leading index flow trading operations. His career trajectory spans multiple systemically important institutions: he joined Citi from JPMorgan in 2022 and previously held positions at Credit Suisse, demonstrating deep experience across global financial markets infrastructure.
Citi's New York equity derivatives franchise has experienced notable personnel attrition directed toward hedge funds in recent years. Seok Yoon Jong, a former head of Americas flow volatility trading at Citi, departed for Brevan Howard in 2021 but subsequently relocated to Millennium. Etienne Lussiez, former head of index flow derivatives trading at Citi, joined Citadel Securities in 2022 and remained subject to non-compete restrictions through December 2025. These departures illustrate systemic competitive pressure between investment banking equity derivatives desks and the alternative asset management sector for specialized trading talent.
Both Brevan Howard and Citigroup declined to comment on Ben Othman's transition, limiting public visibility into the strategic rationale or compensation structure underlying the appointment. The recruitment aligns with Brevan Howard's established strategy of recruiting senior traders and portfolio managers from systemically important banks and competing hedge funds to strengthen its investment capabilities.
Ben Othman's professional profile underscores the caliber of talent Brevan Howard targets. He is a mathematics graduate from France's École Polytechnique and holds a DEA El Karoui degree, credentials that position him among France's most advanced quantitative practitioners. At Citi, he completed four years in the New York office leading index flow trading operations. His career trajectory spans multiple systemically important institutions: he joined Citi from JPMorgan in 2022 and previously held positions at Credit Suisse, demonstrating deep experience across global financial markets infrastructure.
Citi's New York equity derivatives franchise has experienced notable personnel attrition directed toward hedge funds in recent years. Seok Yoon Jong, a former head of Americas flow volatility trading at Citi, departed for Brevan Howard in 2021 but subsequently relocated to Millennium. Etienne Lussiez, former head of index flow derivatives trading at Citi, joined Citadel Securities in 2022 and remained subject to non-compete restrictions through December 2025. These departures illustrate systemic competitive pressure between investment banking equity derivatives desks and the alternative asset management sector for specialized trading talent.
Both Brevan Howard and Citigroup declined to comment on Ben Othman's transition, limiting public visibility into the strategic rationale or compensation structure underlying the appointment. The recruitment aligns with Brevan Howard's established strategy of recruiting senior traders and portfolio managers from systemically important banks and competing hedge funds to strengthen its investment capabilities.
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