Citadel Securities Said to Be Firing 24 in Sales, Trading Group
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Ken Griffin, founder of the $11 billion hedge fund Citadel LLC, is firing the last of the sales people and traders in his securities business as it focuses on electronic trading, according to two people briefed on the dismissals.
The firings today of about two dozen employees come two weeks after Griffin’s New York-based Citadel Securities said it was shutting its equity-research group and its investment bank, ending a three-year effort to build a business that the hedge-fund manager said would rival Goldman Sachs Group Inc.