Citadel Securities expands Asia operations with 100 hires and Hong Kong office growth

Citadel Securities is significantly expanding its operations in Asia, adding nearly 100 employees and growing its presence in Hong Kong, according to a Bloomberg report. The electronic market maker has increased its Asian workforce to around 400, with half of the new hires based in Hong Kong and the rest spread across Singapore, Sydney, and Tokyo.

The expansion also includes a 40% increase in office space in Hong Kong to accommodate this growth. Citadel Securities aims to strengthen its trading activities across Asian markets, including Hong Kong, Japan, South Korea, and Taiwan, by forming partnerships with local and international banks. The firm's strategy is built on its established US equities and fixed income operations, as well as its newly launched Hong Kong-based structured products business.

Recent senior appointments, such as Prakash Subramanian KV as country head for India and Singapore and Richard Smerin as global head of structured products, further support this growth. Citadel Securities is also increasing its recruitment of sales and trading professionals and launching a high-touch equities trading service for institutional investors to handle large US stock orders with greater human involvement.

The firm is considering introducing similar block trading capabilities in Asia, potentially through partnerships with banks. This expansion comes as Citadel Securities faces growing competition from quantitative trading firms like Jane Street, which is also increasing its presence in Hong Kong.

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