P&M: Citadel FI COO Mazzella to depart

Quick read
Americas
mike kentz

Richard Mazzella, chief operating officer of global fixed income at Citadel Investment Group, is set to leave the firm.

Mazzella had been with the firm for seven and a half years. He led the build-out of the fixed income asset management businesses within the firm’s two main hedge funds – Kensington and Wellington– according to his LinkedIn profile. He also led the development and launch of the Citadel Mortgage Opportunities Fund.

The split is amicable, a source close to the situation told IFR. Mazella plans to stay on at the firm until the end of February to help with the transition, the source said.

John Naud, a portfolio manager in the US fixed income group, will take over COO responsibilities.

Prior to his position at Citadel, Mazzella was chief technology officer in the global fixed income team at JP Morgan for just over three years, according to LinkedIn. Prior to that, he was COO of ‘global proprietary positioning and principal investing’ at the bank for six years.

The group held US$26bn assets under management in mid-2015, according to public reports that cited data from Absolute Return magazine.