Stainton quits Deutsche Bank for Citadel

Mark Stainton is to move from Deutsche Bank in London to the Chicago office of Citadel Investment Group to head Citadel's energy trading group, the hedge fund said.

He was previously global head of credit correlation trading at Deutsche Bank, and was head of collateralised debt obligations (CDOs) and credit correlation trading when the bank won the 2004 Risk award for Credit Derivatives House of the Year.

He and Brian Zeitlin were named as heads of the CDO and credit hybrid group at Deutsche in April 2004 as part of a reorganisation - Zeitlin left later that year to join JP Morgan.

Citadel refused to say whether Stainton will take up a newly created post, or whether he is replacing a previous head of energy trading.