- A top lieutenant of billionaire Lee Ainslie is joining Ken Griffin's Citadel in September, sources tell Business Insider.
- Ben Bologna, who was named to Forbes' 30 under 30 finance list in 2018, is joining Citadel's Ashler Capital, one of the firm's three stock-picking units.
- Bologna was at Maverick for eight years, running the team in charge of investing in consumer stocks.
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A rising star at Maverick Capital has been poached by billionaire Ken Griffin.
Ben Bologna, the head of the consumer sector for billionaire Lee Ainslie's Maverick, is joining $34 billion Citadel's Ashler Capital, one of the three stock-picking units at Griffin's Citadel, Griffin's firm confirmed to Business Insider.
Bologna, who was also a managing director for Maverick, will be a consumer-sector portfolio manager at Ashler in September. Maverick declined to comment. Bologna did not respond to a request for comment.
Bologna was a member of Forbes' 30 under 30 finance list in 2018, and the magazine wrote that the then-29-year-old "oversees more than $1 billion" and was on the board of FreshDirect, which Maverick invested in. According to his LinkedIn, Bologna worked at Maverick for eight years, and started his career at investment bank Greenhill & Co.
Citadel's stock-picking units — which include Surveyor Capital and Global Equities along with Ashler — are positive for the year through July, but have had their share of personnel changes. Global Equities cut portfolio managers Chris Connor, Chip Fortson, Tio Charbaghi, and Steve Bergman in April, Bloomberg reported.
Hedge Fund Alert meanwhile reported that Neil Chudgar and Matt Wienkes quit Global Equities in April as well.
There have been more than a dozen portfolio manager additions to the equities units this year including former Third Point researcher Josh Klaczek to Global Equities, former Sculptor financials sector head Oliver Sigalow to Ashler, and former Viking Global analyst Rich Falk-Wallace to Surveyor.
The firm also recently promoted Jonas Diedrich, a longtime Citadel analyst and portfolio manager, to the head of Global Equities Europe — a new role for Griffin's fund.
For the year through July, Citadel's flagship Wellington fund is up more than 16%. The equity unit is one of five strategies that feeds into the Wellington fund. The four other strategies, fixed income and macro, global credit, commodities, and quant are also positive for the year.
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