Runnfeldt Said To Leave Citadel As Ravelin Unit Is Shuttered

Feb 1 2017 | 11:38pm ET

Well-known Citadel executive Jeffrey Runnfeldt has reportedly left the company as part of a wider consolidation of the hedge fund firm's equity units. 

It is the second time Runnfeldt has departed Ken Griffin’s famed investment company, leaving in 2012 after a ten-year stint as co-head of global equities manager only to return in mid-2015 as head of Ravelin Capital, a long/short equity strategy based out of San Francisco. The unit began trading in the fourth quarter of 2015.

Ravelin was folded into Citadel’s global equities division, according to a statement by the firm on Wednesday. The decision will “further strengthen Global Equities by incorporating the best ideas and strongest talent from Ravelin," the statement said.

The move brings Citadel’s equity teams to three - Citadel Global Equities, Todd Barker’s Surveyor Capital, and Richard Schimel’s Aptigon Capital. The restructuring has not been isolated to the company’s investment operations – last week, Citadel’s securities unit replaced CEO and former Microsoft executive Kevin Turner less than a year after he took the role. 

Chicago-based Citadel was founded by Griffin in 1990 with $4.6 million. He subsequently built it into a global alternative investment powerhouse that manages more than $26 billion in assets. 

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