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Article: Executive Leaves Hedge Fund Citadel
- Article from:
- Daily News
- Article date:
- September 5, 2008
- Author:
CopyrightCopyright 2008 Daily News. Provided by ProQuest LLC. (Hide copyright information)
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BOSTON (Reuters) - A Citadel Investment Group LLC executive who
ran an unprofitable credit investment group for the large hedge fund
company has resigned, a person familiar with the matter said on
Friday [Sept. 5].
Joe Russell, who was instrumental in making Citadel's investments
in E*Trade Financial this yearand in failed hedge fund Sowood
Capital last year, left the Chicago-based firm this week, said the
source, who requested anonymity in order to speak freely about the
matter.
Mr. Russell ran the smallest of Citadel's three credit groups,
and it was the only one that was not profitable. He resigned amid
disagreements over how to manage the group, which like all of
Citadel's credit groups ...