John At The Center

Mr. D’Souza has hired 70 bankers, sales representatives and traders to create a securities firm as Citadel aims to fill a void left by last year’s collapse of Bear Stearns and Lehman Brothers, Bloomberg reports. Citadel is the first hedge fund company to expand into advisory and brokerage services to institutional investors, vying to take market share from such firms as Goldman Sachs and Morgan Stanley.

via Citadel’s Brokerage Head Is Leaving – DealBook Blog – NYTimes.com.