Citadel Trader Who Built CDS Business Exiting After a Year

Tian Zeng is leaving Citadel Securities LLC a year after leading the company’s foray into the credit-default swaps trading business, people familiar with the matter said. The hiring of Zeng from Citigroup Inc. in December 2015 was a key step in Citadel Securities’ push to make markets in credit derivatives after an eight-year campaign to loosen Wall Street dealers’ stranglehold.