B. Kevin Turner was named CEO of Citadel Securities and vice chairman of its parent company, hedge fund manager Citadel.
Mr. Turner is chief operating officer of Microsoft and will assume his new roles at Citadel after a short transition period, said Katie Spring, a Citadel spokeswoman, in an e-mail.
Mr. Turner replaces Peng Zhao as CEO of the firm’s securities division. Mr. Zhao will be named vice chairman and Citadel’s first chief scientist, overseeing all quantitative initiatives for the firm for both the market-making and hedge fund businesses, Ms. Spring said. Messrs. Zhao and Mr. Turner will be Citadel’s first vice chairmen, she added.
“Kevin is a proven innovator who brings expertise in technology and operations with a client-first focus,” said Kenneth C. Griffin, citadel’s founder and CEO, in a news release.