•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

Komfie Manalo, Opalesque Asia:

Ken Griffin’s $26bn hedge fund has terminated 15 investment executives from one of its stock-trading units as Citadel’s main fund dropped 6.5% at the start of 2016, Bloomberg reported quoting a source privy to the details.

The report said that the hedge fund has decided to trim the staff from its Surveyor arm that was established in 2009. Those cut were portfolio managers, analysts and junior analysts. Surveyor employs an estimated 200 staff across 25 teams.

In January, Jon Venetos left Surveyoy as its head. He was with the group for 10 years and was replaced by Todd Barker, a 12-year Citadel veteran who used to co-head the fund’s equities in San Francisco. Citadel has three trade equities units, each feeding into the company’s main Kensington and Wellington funds.

Citadel’s poor start this year was in contrast to its strong finish in 2015 after returning 14.3% from its main multi-strategy hedge funds. 2015 was a great year for Citadel which has not returned less than 11% a year since the financial crisis, when it lost 54%. Its teams manage money across credit, stocks, fixed income, macro, commodities and quantitative strategies.

......................

To view our full article Click here