Citadel, a hedge fund in the US, is expanding its quantitative investing unit, Global Quantitative Strategies, and recruiting from AI labs including Google DeepMind as hedge funds compete with Silicon Valley for research talent.

The roughly 180-person group plans to increase staff at a double-digit rate over the next year.

It has also launched a systematic global equities trading team led by Alexey Poyarkov, who joined from TGS Management, where he was a quantitative researcher.

Citadel manages about US$76 billion. Navneet Arora, head of global quantitative strategies, said AI is changing how researchers work rather than replacing them.

The move reflects a broader hiring race as other hedge funds have sought DeepMind researchers. Citadel also requires some investing staff to sign non-compete agreements lasting as long as two years.

🔗 Source: Bloomberg

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