Citadel’s Equities Co-Chief Weller Said to Leave Hedge Fund
(Updates with when investors were notified in second paragraph.)
Feb. 11 (Bloomberg) -- Steve Weller, co-head of Citadel LLC’s global equities group, left after more than a decade at the hedge fund run by Kenneth Griffin, according to two people familiar with the matter.
Weller departed from the Chicago-based firm last week, said the people, who asked not to be identified because the information is private. Brandon Haley, 38, who ran the group with Weller, was picked as the unit’s sole head, Katie Spring, a spokeswoman for Citadel, confirmed by phone today. Investors were told about the management change on Feb. 6, she said.
Citadel, which oversees $14 billion, chose to have one person running the equity business rather than a shared management role, Spring confirmed. Weller didn’t return messages left on his home phone seeking comment.
Weller, 42, became one of three co-heads of global equities in 2009 along with Haley and Jeff Runnfeldt, who left last year. The $3 billion equity fund, started in 2009, returned 17 percent last year and 0.9 percent in January, according to a person with knowledge of the returns.
The Standard & Poor’s 500 Index returned 16 percent, including reinvested dividends, in 2012 and 5.2 percent in January. Long-short equity hedge funds posted a 5.6 gain last year and 1.3 percent in January, according to data compiled by Bloomberg.
Weller joined Citadel in 2001 and was picked to oversee communications, media and entertainment stocks in 2004, according to a biography provided by the company. Weller was named head of the group that invests in technology stocks two years later.
Before Citadel, he worked at Alliance Capital Management, where he was an equity analyst for four years, and previously he worked at Deutsche Morgan Grenfell and Lehman Brothers Holdings Inc., according to the biography.
Haley joined Citadel in 2005 as sector head for consumer stocks, according to a company biography. He previously worked at North Sound Capital LLC for three years and before that he was a financial analyst at Goldman Sachs Group Inc.
--With assistance from Michael Novatkoski in Princeton. Editors: Sree Vidya Bhaktavatsalam, Josh Friedman