As regulatory reforms rein in banks risk taking, Citadel Securities is moving aggressively to fill the breach. Paul Hamill, who joined the institutional trading arm of Chicago-based hedge fund firm Citadel in January 2015, is building a market-making business that includes interest rate swaps, government and corporate bonds and credit default swaps. Weve been able to identify opportunities for the business to grow and develop in the face of ongoing structural changes in the market, says Hamill, who was global head of forex, rates and credit execution services at UBS before joining Citadel Securities as global head of fixed income, currencies and commodities (FICC). Weve been able to look at market changes as an opportunity rather than take a sky is falling approach, the 40-year-old adds. Its been eye-opening to realize how much appetite there is among the client base to do things differently and to find new ways to get better liquidity. Citadel is the first-ever nonbank liquidity provider for interest rate swaps and, according to Bloomberg, is the No. 1 provider of dollar swap liquidity a huge feat, Hamill says. Citadel provides fully executable prices for swaps and U.S. Treasuries; Hamill is looking ahead to rolling out swaps in the major currencies in Europe and credit indexes in the U.S. and Europe. With an MA in political science from the University of Glasgow and a masters of science in finance from the University of London, Hamill held FICC positions at UBS from 2000 to 08 and 2008 to 10, with a stint at Barclays Capital in between.
2016 Trading Technology 40 Click below to view profiles