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

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...