Citadel Wins Access to Marshall Wace Records on Credit Head Hire

UK hedge fund Marshall Wace must turn over to Citadel documents related to its recruitment of a former portfolio manager at Ken Griffin’s firm, a New York judge ruled.

Citadel subpoenaed the documents as part of an arbitration with the former portfolio manager, Daniel Shatz, who joined Marshall Wace as global credit head in 2024. According to Citadel, Shatz stole confidential information in preparation for his move to the rival firm.

In February Marshall Wace asked a New York state judge to quash the subpoenas, calling them an attempt to “harass, burden and inconvenience” a competitor. But Justice ...