The $67bn US hedge fund told members of its Hong Kong-based global quantitative strategies team in recent months that they had to either relocate or leave the company.
Some affected researchers took the offer to relocate to Singapore or Miami, where Citadel is headquartered, while some left the fund. Citadel’s global quant strategies team is crucial to the development of the hedge fund’s trading tactics.
Three people familiar with the moves said they believed concerns over data security were part of the reason for relocating staff who are key to the fund’s intellectual property, but Citadel said the relocations were not related to data security concerns, and the fund continued to hire quantitative researchers in both Hong Kong and Singapore.
‘This is Citadel’s global co-location strategy and has nothing to do with data security,’ the hedge fund said, adding that it always tried to accommodate employees’ needs if they could not relocate.
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The $67bn US hedge fund told members of its Hong Kong-based global quantitative strategies team in recent months that they had to either relocate or leave the company.
Some affected researchers took the offer to relocate to Singapore or Miami, where Citadel is headquartered, while some left the fund. Citadel’s global quant strategies team is crucial to the development of the hedge fund’s trading tactics.
Three people familiar with the moves said they believed concerns over data security were part of the reason for relocating staff who are key to the fund’s intellectual property, but Citadel said the relocations were not related to data security concerns, and the fund continued to hire quantitative researchers in both Hong Kong and Singapore.
‘This is Citadel’s global co-location strategy and has nothing to do with data security,’ the hedge fund said, adding that it always tried to accommodate employees’ needs if they could not relocate.
**Read the full story,** [**here**](https://www.ft.com/content/70ab1705-8c9c-4dce-b9cb-1e517cdd8349?segmentid=c50c86e4-586b-23ea-1ac1-7601c9c2476f)**.**
Victoria – FT social team
$67bn you say ……….