Cushman Out At Citadel Securities

Mar 8 2013 | 10:08am ET

Matt Cushman, who joined Citadel Securities from Knight Capital in 2011, has reportedly been let go as the firm restructures its automatic trading operations.

A person familiar with the situation told Reuters that Cushman is leaving as Citadel Securities cuts up to 30 jobs, or 10% of its workforce.

The cuts, which will affect the firm's New York, Chicago and Palo Alto offices, are part of a plan to consolidate the technology and support teams linked to the firm's automated trading operations, said the Reuters source, adding that the restructure does not mean Citadel chief executive Ken Griffin is moving out of the trading business: 

"If anything Ken wants us push more into that space."

Citadel Securities is a unit of Citadel, which also runs one of the world's largest hedge funds.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...