Griffin’s Citadel Hires Tudor Alum Welsh as Risk Chief

  • She will replace Alex Lurye after 15 years at Jones’s firm
  • Citadel’s flagship Wellington fund jumped 7.3% last quarter

Citadel is hiring Paul Tudor Jones’s former risk-management chief Joanna Welsh in a similar role.

Welsh starts at Ken Griffin’s $26 billion investment firm in January and will replace chief risk officer Alex Lurye, who shifted to a new position as chief data officer last month, Citadel spokesman Zia Ahmed said in an interview. Welsh spent 15 years at Tudor Investment Corp. and was also a partner at Jones’s firm, which is pivoting toward more quantitative capabilities in an effort to revamp following losses and redemptions.

After slumping early this year, Citadel’s flagship Wellington hedge fund is back in the black for 2016, returning 7.3 percent last quarter and 2 percent in September as it made money from bets on equities and government bonds. The multimanager fund had fallen as much as 9 percent in early March when its Surveyor unit struggled with losses.

Citadel, which is based in Chicago, recently hired Microsoft’s chief operating officer Kevin Turner to run its securities unit. In June, the firm brought on Morgan Stanley technology veteran Steve Lieblich as chief technology officer of the hedge fund business.

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