Citadel denies report linking Hong Kong staff moves to data security

Citadel has disputed a Financial Times study that linked unit moves from Hong Kong to imaginable information information concerns, saying the changes were portion of its broader “global colocation strategy to bring teams person together”.

In a effect fixed to Private Banker International, the US hedge money said the nonfiction was based connected “incomplete facts from sources with constricted knowledge”.

The FT reported that immoderate members of Citadel’s Hong Kong-based planetary quantitative strategies squad were told successful caller months they would request to relocate oregon permission the firm.

Citing radical acquainted with the matter, the paper said immoderate researchers moved to Singapore oregon Miami, portion others departed.

The study said Citadel’s planetary quantitative strategies portion is cardinal to its trading operations, and that immoderate radical acquainted with the moves believed information information concerns whitethorn person contributed to the relocation of unit handling delicate intelligence property.

Citadel rejected that explanation.

The steadfast said its planetary quantitative strategies concern successful Asia has teams successful some Hong Kong and Singapore and that it continues to enlistee quantitative researchers successful some cities.

“In Asia, Citadel’s Global Quantitative Strategy concern has teams successful HK and Singapore. We proceed to prosecute QRs successful some locations – if we had information information concerns, we wouldn’t beryllium adding much radical to the existing squad successful HK,” the connection added.

Citadel besides said it had explained to the FT that the moves were linked to its wider co-location approach.

“We explained to the Financial Times astatine magnitude that the rationale for these moves is portion of our wide planetary colocation strategy to bring teams person together,” the connection read.

It added that the relocation requests were not constricted to Hong Kong. According to the company, a tiny fig of employees crossed the US, Europe and Asia had been asked to determination truthful they could enactment successful the aforesaid bureau arsenic their teams.

“As portion of a planetary effort GQS had asked a tiny fig of radical not conscionable successful HK but crossed the US, Europe and Asia to determination to a antithetic bureau truthful that they could beryllium successful the aforesaid determination arsenic their teams. It’s earthy that immoderate radical whitethorn not beryllium capable to determination instantly for assorted reasons, and we ever bash what we tin to accommodate their needs,” Citadel said.

"Citadel denies study linking Hong Kong unit moves to information security" was primitively created and published by Private Banker International, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.