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Citadel Trader Who Lost $1 Billion in 2014 Resigns

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Derek Kaufman, global head of fixed income at Citadel LLC, is leaving the hedge fund firm after losing $1 billion last year in a variety of trades, according to a person familiar with the matter.

Kaufman, 40, resigned two weeks ago and his portion of the portfolio has been liquidated, said Katie Spring, a spokeswoman for the Chicago-based firm founded by Ken Griffin. Calls to Kaufman weren’t answered. The rest of Kaufman’s team is remaining and the senior members will now report to Griffin, Spring said.