Another top recruiting exec is out at Citadel. She joined the $69 billion hedge fund only 2 months ago.

"Laura Sterner resigned last week as head of BD in Citadel's Global Equities unit after only two months on the job, according to people familiar with the matter, who asked to remain anonymous to discuss private information. The departure, the latest churn in Citadel's BD ranks, comes just a few weeks after Citadel's top quant recruiter, Ansh Kalra, left for rival multistrategy hedge fund Balyasny Asset Management."

"The talent war among hedge funds in recent years has shifted the power balance toward employees, as top investment firms scramble to hire the best money managers. One knock-on effect has been increased competition for BD executives capable of identifying and hiring elite portfolio managers and researchers. As a result, top recruiters can now fetch multimillion-dollar compensation packages at the multistrategy hedge funds at the center of the talent war."

"The reason for Sterner's quick departure wasn't immediately clear. She previously spent a decade at Steve Cohen's Point72, where she worked as the fund's chief fundraiser before leaving earlier this year, Business Insider previously reported. After a short-lived stint at a healthcare investment firm starting in May, Citadel brought Sterner on in September to replace Alex Topkins. Topkins left in April as head of BD in the Global Equities division, which is run by former Point72 portfolio manager Justin Lubell."

Laura Sterner resigned after two months as head of business development in Citadel's Global Equities unit. The departure followed recent exits including top quant recruiter Ansh Kalra leaving for Balyasny Asset Management. Sterner had spent a decade at Point72 as chief fundraiser, left earlier this year, briefly worked at a healthcare investment firm, and joined Citadel in September to replace Alex Topkins. Topkins left in April; the division is run by former Point72 portfolio manager Justin Lubell. The hedge-fund industry faces a talent war that has shifted bargaining power to employees and increased competition and turnover among BD executives.

Read at Business Insider