Citadel Securities has poached two new executives from competitors BlackRock and Goldman Sachs, a spokesman for the market maker confirmed Thursday.
Xiaodong "Tony" Tang, formerly BlackRock's head of China, will join Citadel Securities in September to head up the Miami-based firm's expansion into China. Mr. Tang will primarily be based in Hong Kong and will report to Citadel Securities' CEO, Peng Zhao.
"China remains a critical destination for investors around the world, and we see significant opportunities to make a positive impact as its markets continue to open up to a greater number of participants. Tony's proven track record of building successful businesses in the region, combined with his unique perspective on policy and regulation, will help drive our next phase of global growth," Mr. Zhao said in an emailed statement.
Mr. Tang left BlackRock in June to explore other opportunities after nearly four years in his role. Susan Chan, a managing director and deputy head of Asia-Pacific and head of Greater China, has overseen BlackRock's China business in his absence, but no announcement has been made about directly replacing Mr. Tang. BlackRock did not respond to a request for comment.
Mr. Rusoff, who most recently served as Goldman's chief counsel for global banking and markets, will join Citadel Securities next year as the firms' chief legal officer. He will also report to Mr. Zhao.
"David is among the most accomplished legal professionals in global capital markets, and we are thrilled to welcome him as our new Chief Legal Officer. We look forward to David's counsel and the leadership he will provide to our global Legal and Compliance team during this exciting period of growth for Citadel Securities," Mr. Zhao said.
Goldman Sachs did not respond to an inquiry about who would replace Mr. Rusoff in his previous role.