Citadel Securities has announced that three senior investment bankers have joined the firm marking the launch of its Investment Banking division.
Todd Kaplan, who joined Citadel in March, will assume the role of Head of Investment Banking for Citadel Securities, reporting to Rohit DSouza, CEO of Citadel Securities. Brian Maier joins as Head of Industry Groups and Carl Mayer joins as Head of Leveraged Finance. Both will report to Mr. Kaplan.
The investment banking offering is the most recent addition to the Citadel Securities platform, which also includes multi-asset class market making, order execution services, and Citadel Solutions, a hedge fund administration business.
The move into investment banking comes at a tough time for the sector with the collapse of Bear Stearns and Lehman Brothers, and Bank of America’s buy-out of Merrill Lynch.
Citadels move may spark competition in the industry, with Goldman Sachs and Morgan Stanley the only independent investment banks on Wall Street.