Laura Sterner Resigns, Adding to Citadel’s Executive Departures
The hedge fund giant Citadel has witnessed another high-profile resignation with Laura Sterner stepping down from her role as head of business development in the Global Equities unit. Sterner’s departure, which occurred just two months after she joined, adds to the ongoing trend of executive turnover within the organization.
Background on Laura Sterner
Laura Sterner had an extensive career prior to her brief tenure at Citadel. She spent ten years at Point72, led by Steve Cohen, where she was the chief fundraiser. Earlier this year, she left that position and took a short stint at a healthcare investment firm before joining Citadel in September.
Recent Changes at Citadel
Sterner’s resignation follows the exit of Ansh Kalra, Citadel’s top quant recruiter, who left the firm for Balyasny Asset Management. This increases concerns about stability within Citadel’s business development team.
Reasons for Departure
The specific reasons behind Sterner’s rapid departure remain unclear. Citadel has not commented on her exit, and Sterner has also not responded to media inquiries.
Executive Turnover in the Industry
The hedge fund landscape has become highly competitive, particularly for business development roles. Firms are eager to secure top talent for portfolio management and research, leading to elevated compensation packages for skilled recruiters.
- Recent turnover in Citadel’s business development department:
- Laura Sterner resigned after two months.
- Ansh Kalra left for Balyasny Asset Management shortly before Sterner.
This trend of increased turnover has affected many hedge funds, especially at firms competing at the highest level. Citadel, valued at $69 billion and led by Ken Griffin, has had notable reshuffles in its executive ranks over the past year, as the company adapts to the evolving market dynamics.
