Citadel Investment Group LLC will close down its Tokyo office and Asian principal investment operations, cutting more than half of the jobs in the region.Citadel will in the future run its remaining Asian operations from Hong Kong after shutting the regional principal team that invests in companies undergoing or about to go through mergers and acquisitions, spinoffs, asset sales or legal challenges. Katie Spring, a spokeswoman in Citadelâ??s Chicago head office, confirmed the decision today.
The operations to be run out of Hong Kong include stocks, options and foreign-exchange trading, as well as China investments and merchant banking, which holds securities not traded on exchanges for the longer term.
Nick Taylor, who heads Citadelâ??s principal investments division in Asia and Europe, will be leaving the firm. Tim Throsby, Citadelâ??s former Asia head, left last month.
