In an effort to improve automated marketing and trade functionality, Citadel Securities has hired former Microsoft executive B. Kevin Turner. As the chief executive officer of Microsoft for 11 years, Turner has extensive experience in working with technology firms to set innovative goals and exceed client expectations. To that end, his new position at Citadel Securities is that of CEO, and he also a new vice chairman position at Citadel.
Of course, Turner has more experience than just Microsoft, as he also worked for many years at Walmart. Starting from cashier position, Turner was able to slowly work his way up until he became the chief information officer.
While Citadel Securities is already one of the largest ranked firms for trading volume, this talent acquisition is interesting for what it means for future hedge fund management firms. Specifically, firms are increasingly conducting all of their trades through automated programs, making them more reliant on technology for financial decisions than ever before. It’s easy to see how firms are thus more concerned with finding talent that is comfortable in this field and able to adapt accordingly.
In fact, many other firms are seeking out technology experts to join their teams in high-level positions. As recently as March, Bridgewater hired Jon Rubinstein, who had previously worked with Steve Jobs at Apple.
For his part, Turner has said that he is excited to transition into a new field and bring his unique mix of competitiveness and innovation to Citadel Securities.