Citadel Investment Group's institutional markets head Peter Santoro recently stepped down from his duties, a source familiar with the situation told Investment Management Weekly yesterday.

Reasons for Santoro's departure were undisclosed by sources. Santoro first joined the firm in 2008, news outlets reported yesterday.

Furthermore, Chris Boas, head of relative credit for Citadel's asset management arm and former head of structured credit at Morgan Stanley, will be the new global credit markets head in the securities department, the source said.

The transition comes off a recommendation from Patrik Edsparr, Citadel's securities head. The appointment change reportedly came about because Boas has extensive experience in "building out credit platforms," the person said.

In October, Edsparr assumed the lead securities role following the departure of Rohit D'Souza. D'Souza held the position for roughly a year before leaving the firm, numerous media outlets reported previously.

Separately, Ravi Mattu, previously appointed to Citadel's management division, will transition to expand research as the securities division's global head of research and strategy, the source said.

Becket Wolf and David Hensle will fill Boas' asset management position. Both candidates will run Citadel's fundamental credit and quantitative credit models, the person added.

Currently, the nearly 20-year old firm offers financial services through a "diverse business platform," its Web site said.

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