Citadel Securities CEO Kevin Turner Steps Down
January 27 2017 - 7:15PM
Dow Jones News
By Alexander Osipovich
Kevin Turner, chief executive officer of hedge-fund Citadel
LLC's electronic market-making unit, has stepped down after joining
the firm less than a year ago from Microsoft Corp.
Peng Zhao, who is vice chairman of Citadel LLC, has been named
the new head of the Citadel Securities unit. A spokesman for
Citadel confirmed the changes in an email.
"I want to thank Kevin Turner for his leadership and the lasting
impact he made on our firm," billionaire Kenneth Griffin, founder
and CEO of Citadel, said in the email.
Mr. Turner was previously Microsoft's chief operating officer
before he left to head Citadel Securities in 2016, according to a
Wall Street Journal article in July. Before joining the software
giant, he was information chief at Wal-Mart Stores Inc. and head of
the retailer's Sam's Club warehouse club, according to the
article.
Mr. Zhao has been at Citadel since 2006 and has also worked as
the global head of market making for Citadel Securities, according
to the email.
Write to Alexander Osipovich at
alexander.osipovich@dowjones.com
(END) Dow Jones Newswires
January 27, 2017 19:00 ET (00:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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