Citadel Investment Group, the Chicago-based alternative investments firm, has hired a chief executive for its European business from JP Morgan, as the group continues to expand its management team and the London operations.

Patrik Edsparr, global head of rates, FX, securitised products, fixed income, exotics and hybrids, at JP Morgan Chase in London, will join Citadel as chief executive of the European business, said Citadel in a statement this morning.