Hedge Funds

Citadel adds macro strategies head for new business unit

Colin Lancaster will join Citadel later this year as head of macro strategies to run a second global macro management unit for the hedge fund manager, a statement on the firm's website said.

Mr. Lancaster will be based in Citadel's London office where he will build out an investment team.

Citadel has been hiring senior hedge fund investment managers like Mr. Lancaster to build new businesses on its investment platform for several years. Each business manages money exclusively for Citadel's multistrategy hedge funds.

"We continue to focus on attracting exceptional senior talent to our firm across all of our strategies and look forward to Colin's leadership in driving growth of investing activities in the macro space," said Gerald A. Beeson, Citadel's chief operating officer, in a statement.

Mr. Lancaster was head of macro strategies and co-head of the London office of hedge fund manager Balyasny Asset Management. Officials at Balyasny did not respond to an email seeking information about Mr. Lancaster's replacement.

Citadel manages $27 billion in hedge fund strategies. Balyasny manages $12.7 billion in hedge funds.