Citadel Did Some Hiring And Firing This Week

Good news for some, less good news for others.

As you've likely already heard by now, former Fed chair Ben Bernanke picked up a new job today-- advising hedge fund Citadel and its founder Ken Griffin (presumably on "global economic and financial issues" and not on matters of the heart, though one never knows, and Bernanke has been married for over thirty years, so perhaps something to think about). In other personnel news at the firm, apparently 10-figure losses are considered a big deal.

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.

Citadel Trader Who Lost $1 Billion in 2014 Resigns [Bloomberg]
Ben Bernanke Will Work With Citadel, a Hedge Fund, as an Adviser [Dealbook]


By Mr. Granger (Own work) [CC0], via Wikimedia Commons

Ken Griffin Ensures Ample Supply Of People To Hire And Fire Going Forward

The University of Chicago will be churning out little Ken Griffins—and those training the little Ken Griffins—for the foreseeable future.