ALTERNATIVES

Citadel picks permanent head of commodities unit

Sebastian Barrack will join Citadel in July as the Chicago-based head of the commodities investment unit, one of the longest running in the hedge fund industry.

Mr. Barrack will assume responsibility for commodities management from Kenneth C. Griffin, Citadel’s founder and CEO, who has been running the business on an interim basis, confirmed Zia Ahmed, a Citadel spokesman, in an email. Mark Stainton headed commodities until last summer, when he became head of Citadel’s global equities unit business.

Mr. Barrack is executive director and global co-head of mining, metals and agriculture at Macquarie Group. Stephen Yan, a Macquarie spokesman, declined to comment on Mr. Barrack’s replacement.

Citadel manages $26 billion in hedge funds.