Monday, 22 December 2014
Last updated 27 min ago
Jul 3 2013 | 2:35am ET
Citadel Investment Group is again cutting back in Asia, eliminating half-a-dozen jobs in Hong Kong and moving oversight of the region back west.
The Chicago-based hedge fund giant will return to its previous practice of overseeing its Asian trading from the U.S. and Europe. The firm will retain its Hong Kong office, but has again cut back on its size, a year-and-a-half after boosting its presence in the city.
Citadel told Bloomberg News that overseeing its Asian stock investments from outside the region was found to be more efficient by a review.
Six members of Citadel’s Hong Kong team have left the firm, including fund managers Raymond Shu and Agu Tandiono. The former rejoined Citadel in 2012, having previously worked at the firm, and the latter moved to the firm from TPG-Axon Capital Management in 2011.
The cutbacks are the third for Citadel in Asia in the last five years. The firm closed its Tokyo office and reduced its operations in the region in 2008, and in 2010 laid off four members of its Asian merchant-banking unit.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.