Citadel Follows Big Banks With Cuts as Ken Griffin Supports Art Bubble

[kreslik.news]

Ken Griffin’s hedge fund Citadel has become the latest big financial institution to undertake drastic steps and reduce the number of its employees following a number of big banks. The hedge fund’s long-short strategy Surveyor Capital has suffered significant losses since the start of the year, prompting the move.

Last month the company already started a management reshuffling after sacking Jon Venetos and replacing him with Todd Barker. The move surprised a number of industry insiders after Venetos spent 9 years at the company. Citadel returned 14 per cent to its investors in 2015.
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Citadel returned 14 per cent to ... (read more)