Citadel's Surveyor Capital PM Jack Woodruff to start his own firm

Excelling's picture
Excelling - Certified Professional
Rank: Gorilla | banana points 673

Link: https://nypost.com/2019/01/11/ken-griffins-citadel...
It would be interesting if anyone knew a little bit more about the size of the book, type of strategy he ran (any industry preference for example), etc. inside of Citadel, but as the article says, he has been doing extremely well.

First big name spinning out on his own in 2019 as far as I've seen and looks like Ken Griffin will be putting some money into the firm as well. Will be interesting to see the size of his new fund and how many (if any) people he'll be able to take with him. I'll try to update this with additional information as I see it.

UPDATE - 1/18/2019
Citadel axed L/S portfolio manager Adam Wolfman and his team from Surveyor, which is also losing Jack Woodruff
Link [BI Prime]: https://www.businessinsider.com/citadel-cuts-stock...
Haven't read the full article (don't have BI Prime), but assuming this is related to performance given Citadel is letting him go. Will continue to update as I see anything.

Comments (8)

Jan 13, 2019

I interviewed with the team and know quite a bit about them, but ultimately didn't finish the process as I didn't think culturally it was what I was looking for at that time.

He runs a consumer long/short book, the biggest equity book at Citadel. He has 3 PMs under him that will likely continue to run the fund (unless they go with him). Huge team (Jack, his sub-PMs, analysts, associates), I think maybe $3-4bn gross AUM. Really smart people working with him and his process is intense, so if they continue to carry that forward the team should be fine.

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Jan 13, 2019

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Jan 13, 2019

Appreciate all of the context - also agree will be interesting to see if any of his juniors (didn't realize he had so many) will be able to leave with him or what kind of non competes they signed

Jan 13, 2019

Legendary in pod world. Biggest consumer PM at Citadel. I know some of his juniors and seniors are leaving with him, but not sure if its all of them. There's no way standard Citadel non-competes would allow that but it seems he has Ken's blessing.

Standard Citadel style: very short-termish, with the juniors ultra sector-focused. Would guess he tries to do something like what Holocene has done

Jan 15, 2019

Edited

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Jan 16, 2019

Thanks for the additional context!

Jan 16, 2019

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Jan 16, 2019