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

FINalternatives Survey: We Asked Investment Pros...

Apr 2 2016 | 9:42pm ET

The data from our annual reader survey continues to roll in and provide interesting...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...