Citadel To Halve Asia Staff, Close Tokyo Office

Dec 8 2008 | 3:22pm ET

Just six months after a major expansion in the region, Citadel Investment Group is roughly halving its headcount in Asia and closing its office in Tokyo.

The Chicago-based hedge fund giant, which has been buffeted by poor performance and investor redemptions, is just the latest Western hedge fund to scale back its Asian operations. The firm will cut a total of 37 positions in Asia: In addition to the dozen jobs to be lost at the Tokyo office, Citadel will also cut almost half of its Hong Kong-based staffed, leaving between 25 and 30 employees in that office.

Among the losses is Citadel’s Asian event-driven team. All other Tokyo-based businesses will now be run from Hong Kong.

In April, Citadel made a pair of big-name hires in the region, adding Nick Taylor from Credit Suisse Group as head of principal investments for Asia and Europe as well as Merrill Lynch’s David Noh as head of merchant banking in the region.

RELATED STORIES

Citadel Funds Down 47%; Firm Sued Over Sentinel Transfers


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR