Hedge fund Citadel hires portfolio manager Nabeel Bhanji from Elliott

Reuters
2024-11-11
UPDATE 1-Hedge fund Citadel hires portfolio manager Nabeel Bhanji from Elliott

Adds details on Bhanji, Citadel, Elliott

Nov 11 (Reuters) - Hedge fund Citadel hired Nabeel Bhanji, a senior portfolio manager at Elliott Investment Management who worked on the firm's activist campaigns in Europe and Japan, two people familiar with the move said on Monday.

Bhanji, who works in London and was named a partner at Elliott last year, joined the firm in 2012 and worked on the campaign at mining company Anglo American AAL.L and held a board seat at Toshiba.

Representatives for Elliott and Citadel declined to comment.

The Financial Times first reported the move.

Ken Griffin's Citadel, which oversees roughly $64 billion, ranks among the world's most profitable hedge funds. It employs dozens of trading teams that pursue a variety of strategies in various asset classes. It however has not played a big role in activist investing where firms like Elliott, Trian Fund Management, Starboard Value, Jana Partners, ValueAct and Carl Icahn regularly pursue campaigns targeting underperforming companies.

Citadel is also well known for recruiting talent from rival firms.

Elliott, which oversees roughly $70 billion, is well known in the activist investment world for campaigns at companies including most recently Southwest Airlines LUV.N and Starbucks SBUX.O.

(Reporting by Svea Herbst-Bayliss in New York and Shivansh Tiwary in Bengaluru; Editing by Anil D'Silva and Franklin Paul)

((svea.herbst@thomsonreuters.com; +617 233 2138; Reuters Messaging: svea.herbst.thomsonreuters.com@reuters.net/))

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