Kenneth Griffin’s Citadel has cut six of its Hong Kong-based employees.
Bloomberg reported that Chicago-based Citadel is returning to its previous practice of managing its Asian equity investments from Europe and the U.S. after a review found that it was more efficient.
The article also said that the firm will retain its Hong Kong office, which will house a team that seeks to profit from macroeconomic themes and a securities business.
Citadel closed its Tokyo office and eliminated more than half of its Asia-based employees back in 2008.
One of the largest hedge funds globally, Citadel manages approximately $15 billion in assets.