Citadel isn't the only fund struggling to keep its COO

Fri Oct 1, 2004

Many top funds are finding it difficult to hold on to a business executive

The transition from adolescent entrepreneurial business to adult institution is proving more difficult for many hedge fund managers than they expected. Nowhere is this more in evidence than in the difficulty that many of the independent-minded hedge fund founders are having at hiring or holding onto the right senior business executives. At some funds, turnover in these jobs has been high, and at others, the founders have given up and eliminated the executive posts entirely.

The most obvious example of this is $10.7 billion Citadel Investment, which is still without a chief operating officer after losing its fourth in four years this July. John Simpson, a former vice chairman at Dresdner Kleinwort's investment banking division, and a personal friend of Griffin's, left Citadel after less than a month in the job. His departure followed soon after that...

ISSN: 2151-1845 / CDC10004H

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