Ken Griffin

The Poached Becomes The Poacher

A couple of years ago, Ken Griffin had a little bit of friendly advice for his buddy Steve Cohen, who—potentially on account of the unfortunateness—was having a little trouble finding non-idiots to yell at and humiliate. That advice was, “take it from somebody else,” with the unspoken addendum of “especially if they’re having some reputational problems… oh, wait, you can’t. Sorry.” History has not recorded Cohen’s undoubtedly understated and not-at-all roaring spit-geyser reaction to that bit of Windy City shade-throwing. Suffice it to say he was only too happy to take Griffin’s advice in staffing up his burgeoning quantitative efforts with one of Ken’s own. And now that KG is having his own staffing issues, the Big Guy would like to note that he’s having to beat the top-notch talent flock...

Bored SEC Employees Going On Rumspringa At Citadel

All the milkshakes you can drink! By Paul Elledge [CC BY-SA 4.0], via Wikimedia Commons There’s not much going on at the Securities and Exchange Commission these days, a quiet period that is likely to last until at least January 20, 2021. Indeed, if you do not work in  the regulator’s low-hanging fruit division or in its figuring out what cryptocurrencies are unit (or both!)—or on its IT team—you’re probably not doing very much at all. This is fine if you’re simply biding your time for a federal pension and really like playing cell-phone games. But not everyone is so selflessly dedicated to public service. Some people like to keep busy. Some people would like to make a lot more money. Some people like living dangerously. If two or more of these things describe you (especially the latter, a...

Ken Griffin Cans Steve Cohen’s Brother-In-Law

A couple of years ago, Ken Griffin and Steve Cohen had a bit of a disagreement over the relative prevalence and availability of talented traders with which one could stock a hedge fund. Steve was bemoaning the bottom-of-the-barrel resumes he was seeing; Ken suggested there might be a reason for that. As if to demonstrate, at around the same time, Griffin hired Cohen’s brother-in-law to run a new stock-picking unit, because he could. And then he had Richie Schimel fill that unit, Aptigon Capital, with refugees from Visium Asset Management, because that’s what he does, and also because he could—and Cohen couldn’t. And now, Griffin has fired Schimel, because, again, that’s what he does, and, again, also because he can. Maybe it’s time for that family reunion after all. Richard Schimel, who ha...

Goldman, Morgan Stanley Veteran Signs Up For Eventual Firing By Ken Griffin

By Paul Elledge [CC BY-SA 4.0], via Wikimedia Commons Sooner or later, everyone on Wall Street will work for Ken Griffin (after the waterboarding, of course). Sooner or later, they’ll shudder when his stare turns their blood to ice. And sooner rather than later, they will stop working for him. In fact, there are probably not enough people on Wall Street to satisfy the Citadel chief’s appetite for hiring and firing. Ken Griffin knows this and is working on the problem. In the meantime, he’s continuing to work through the current supply, which means its John Neary’s turn to spend a couple of days/weeks/months/maybe years waiting for that final summons to Ken’s office. John Neary, a trader who has held various senior roles at Morgan Stanley and Goldman Sachs, has been hired by $27bn hedge fun...