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Citadel Cuts Hong Kong Staff

Jul 07, 2013
Jing Chen

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.

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