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Hedge Funds

Citadel hires quant team from Hutchin Hill, taps new leader for Aptigon unit

Citadel hired a 10-person team from Hutchin Hill Capital to manage a quantitative strategy for the $27 billion hedge fund manager.

The team joined Citadel in its New York office this week, said Zia Ahmed, a company spokesman.

Michael Urias heads the new team. He was a portfolio manager at Hutchin Hill.

Mr. Ahmed did not provide Mr. Urias' title at Citadel and did not identify the other nine members of the team, which will manage money for Citadel's multistrategy hedge funds.

"This is yet another example of our platform attracting exceptional talent as Citadel continues to grow," Mr. Ahmed said.

Mr. Urias and his colleagues were part of Hutchin Hill's QuantOne strategy.

Hutchin Hill announced in December that it will return investor money by the end of the first quarter and close.

Citadel also made changes Thursday to the leadership of its Aptigon Capital business, replacing the leader and chief operating officer through internal appointments.

Eric Felder was named head of Aptigon, replacing Richard Schimel, and Reza Shahi was named COO, replacing David Bonfili, Mr. Ahmed confirmed.

Aptigon Capital manages a long/short market-neutral equity strategy used in Citadel's multistrategy hedge funds.

"We have made a series of changes to Aptigon Capital to strengthen the platform and drive investment performance," Mr. Ahmed said, adding Citadel is "committed to the success of Aptigon Capital, and we will continue to recruit leading talent to the team."

Mr. Felder retains his roles as head of Citadel's fundamental strategies and global credit businesses.

Mr. Shahi was most recently COO in the office of Citadel's chief technology officer and previously was director of operations for Citadel's global equities strategy. Information about his successor could not be learned.

Messrs. Schimel and Bonfili left the firm on Thursday. Neither could be reached for information about their plans.