Citadel U.S. Distribution Chief Out Over Communication Snafu

Apr 4 2011 | 12:34pm ET

The head of U.S. distribution at Citadel Investment Group has left the firm, reportedly after failing to inform a key investor about the departure last month of mortgage hedge fund manager Bill King.

Jake Walthour left Citadel Asset Management last week—he joined the firm from hedge fund consultant Aksia in January 2010. According to Pensions & Investments, Walthour did not tell an institutional investor about King's March 7 resignation, which led Citadel to shutter his $200 million fund.

P&I reports that King's fund had a "fair" number of large institutional investors.

Citadel said it is looking for Walthour's replacement.

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