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Citadel Hires 10-Person Quant Team From Defunct Hutchin Hill

Updated on

Ken Griffin hired a quant team from Hutchin Hill Capital less than three months after founder Neil Chriss said he was closing his hedge fund.

The 10-person group joined $27 billion Citadel this week in New York and is led by Michael Urias, according to Citadel spokesman Zia Ahmed. Previously part of Hutchin Hill’s QuantOne team, the group now trades for Citadel’s main funds, he said.

Chriss announced in November that he would shutter his $2.2 billion firm Hutchin Hill after failed credit and equity bets led to three years of lagging performance. He started Hutchin Hill in 2007 with $300 million from James Simons, founder of Renaissance Technologies. The firm peaked at about $5 billion in assets under management.

Read more on Hutchin Hill shutting down here

(Updates with details on Hutchin Hill in third paragraph.)
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