Citadel To Start Quant Group, Hires Knight Capital Duo

Apr 28 2011 | 12:29pm ET

Citadel Investment Group has hired a pair of former Knight Capital Group executives to launch its new quantitative-trading group.

Jamil Nazarali and Matt Cushman will report directly to Citadel founder Kenneth Griffin. The two are charged with working with Citadel's existing equities, currency and high-frequency trading teams, among others, Bloomberg News reports.

Nazarali was senior managing director in charge of electronic trading at Jersey City, N.J.-based Knight, while Cushman was a managing director in that group. Both resigned in February and will join Citadel in September.

Nazarali formerly worked at Bain & Co. and Ernst & Young. Cushman, a math Ph.D., was at a technology start-up before joining Knight.

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