Citadel LLC, the $11 billion firm run by Ken Griffin, plans to fire 12 people in sales and trading within its securities unit, Citadel Securities, said a person briefed on the plans.
The layoffs represent about 5 percent of the sales and trading group, said the person, asking not to be named because the information is private. Devon Spurgeon, a spokeswoman for Chicago-based Citadel, declined to comment.
Separately, Citadel’s co-head of equity derivatives, James Boyle, left the firm today, Spurgeon said. Boyle joined Citadel last year from Bank of America Corp., which bought Merrill Lynch & Co., where Boyle worked for 13 years.
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