James Yeh was promoted to president and co-chief investment officer of hedge fund manager Citadel, effective Jan. 1.
Both positions are new, confirmed company spokeswoman Megan Ingersoll. Mr. Yeh will share the CIO duties with Kenneth C. Griffin, Citadel's founder, CEO and CIO. The firm's global quantitative, global fixed-income and macro investment units and the advanced analytics that support Citadel's fundamental equities businesses will report to Mr. Yeh.
Mr. Yeh joined Citadel in 1993, three years after the firm was launched, and has held senior leadership positions including head of the firm's global equities team.
He retired in 2013 and returned in 2017 to head Citadel's global quantitative strategies team and serve as senior adviser to Mr. Griffin.
In May, Navneet Arora assumed leadership of the global quant unit, and Mr. Yeh continued to work closely with Mr. Griffin in his advisory role, Ms. Ingersoll said.
"James has been a phenomenal contributor to Citadel's success for nearly three decades," Mr. Griffin said in a company news release. "He is recognized across the industry as a brilliant entrepreneur who has successfully woven together the art of investing and the science of quantitative research and system engineering. Much of Citadel's success can be attributed to James' efforts."
Citadel manages $32 billion in hedge funds for an institutional clientele.