As Citi cuts, one of its MDs arrived at Jane Street in New York
Citi might be in the midst of a substantial re-shuffle, involving both job cuts and senior leadership “optimization”, but that doesn’t mean some of its managing directors aren't leaving of their own accords and joining Jane Street, in the promised land of electronic trading.
Christopher Suozzo spent nearly 20 years at Citi, most recently as head of North American cash prime brokerage. He moved to Jane Street last week and is based in New York for the firm. Suozzo has a side job as a board member of NYNY Baykeeper, an organization that advocates for the NY-NJ Harbor Estuary.
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It's not clear what Jane Street is doing hiring a head of prime broking (unless it's trying to pitch for hedge fund business) but it probably didn't take much to convince Suozzo to join. The firm pays a lot – averaging £667k ($810k) per head at its London office, including support staff. Starting salaries alone are between $250k and $300k at the firm. It’s also hiring substantially, albeit quietly, with headcount increasing by 25% since it last updated its own website.
Jane Street isn’t the only electronic trading house adding to its headcount. DRW, the Chicago-based firm, added Thameem Abdul Haq and Mark Hillinger from Morgan Stanley and LS Power, the energy investor, respectively.
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