What's up at Citadel?

There's been a lot of talk about how private equity firms aim to push deeper into investment banking, but it's been hedge fund Citadel that seems to be farthest down this road. Citadel Securities now offers advice on deals, financing and reorganizations as well as sales and trading services to institutional investors in many asset classes. 

So what to make of the news that Rohit D'Souza has left Citadel after just over a year? After running equities and alternative investments at Merrill, he joined Citadel to lead the push. He designed Citadel's investment banking business and hired more than 80, according to media reports. Six senior executives are known to have left since the beginning of 2008, including Mikhail Malyshev, the firm's former global head of high-frequency trading. Is the firm facing growing pains? Todd Kaplan, another former Merrill banker, is staying as head of investment banking. Peter Santoro remains head of institutional markets. 

For more:
- here's the MarketWatch article
- here's a Chicago Tribune article

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