Jeffrey T. Runnfeldt will rejoin Citadel in July as senior managing director to run a new global long/short equity business for the hedge fund manager in its San Francisco office.
Citadel manages a total of $26 billion and will allocate $1 billion of that to Mr. Runnfeldt’s unit. He will build 10 tactical trading teams — made up of both current employees and new hires — to manage the strategy, which is expected to start trading in the fourth quarter, said a Citadel spokesman, who asked not to be named.
The spokesman could not provide Mr. Runnfeldt’s previous title at Citadel.
Mr. Runnfeldt retired from Citadel in 2012 after a 10-year tenure managing global equities, the spokesman said. He has not taken another investment management position in the interim.