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He left Goldman after 20 years.

Citadel hired a heavy-hitter from Goldman Sachs in Hong Kong

Citadel has poached another senior banker from Goldman Sachs in Hong Kong as it looks to build out its presence in Asia.

The firm has hired Peter Colven as its chief operating officer for the APAC region. Colven has joined after 20 years at Goldman Sachs where he was most recently COO and chief risk officer for Asia-Pacific (APAC) securities at the US bank.

Colven is replacing John Buckley, who joined Hong Kong Exchanges and Clearing as head of exchange operations and transformation last December.

Colven’s appointment also comes as Citadel is building out its operations in the APAC region as part of a big global expansion drive and Goldman is proving to be a fruitful recruiting ground. In March 2021, Wendy Kwong joined Citadel from Goldman as chief financial officer for APAC.   In April 2022, Citadel hired Catherine Chan as a corporate attorney covering the market making and hedge fund businesses of Citadel and Citadel Securities.

The links to Goldman also extend to recruitment. Leena Chulani, a member of Citadel’s global recruiting team, arrived from Goldman in 2019.

Citadel was founded by Ken Griffin. Griffin has big growth plans for his separate Citadel Securities electronic market making business after selling a $1.15bn stake in January 2022 to Sequoia Capital and crypto investor Paradigm in a deal that values it at $22bn.  The investment is intended to fund a global expansion plan and could also be a precursor to a stock market flotation.

Citadel Securities, whose CEO is the 39-year old Beijing-born Peng Zhao, has big growth plans in Asia in terms of market making and in its institutional business and is looking to hire across the region. It is also looking to become a market maker in crypto and is looking to hire globally to support this initiative.

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AUTHORDavid Rothnie Insider Comment

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