Hedge fund Citadel's new EU gas portfolio manager has one of its $21m jobs
As Citadel pushes further into European natural gas trading, its newest portfolio manager in the business has joined as a partner.
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Tom Nutt arrived at Citadel this month in London and has immediately been made a member (partner) according to a filing with Companies House.
Nutt previously spent nearly nine years trading European gas at Shell. He arrives after Eike Schick, a 37-year-old former Citadel gas trading partner, left to study psychology in June.
Benjamin Hillyard, an analyst from CCI is joining to work with Nutt. Hillyard is already known to Citadel: he won the fund's datathon while he was studying at Oxford in 2019.
Citadel is also parting company with Adam Frame, a portfolio manager in its energy team. Frame, too, is retiring at the end of the year.
Nutt is a partner at Citadel Hedge Fund Management Europe LLP. The average partner at this entity earned $21m in 2024, which explains why people there keep retiring.
Power trading is popular among hedge funds. Citadel has just acquired FlexPower, a Hamburg power trading company. Jain Global, Balyasny, Qube, and Millennium have also been building teams in the area. Jane Street announced its intention of moving into physical gas market trading last week.
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