< The 2015 Tech 50: Racers to the Edge

Advanced technology has been crucial to the standout performance of Chicago-based Citadel since its founding in 1990 by CEO Kenneth Griffin. Today the $26 billion hedge fund firm’s technology is a business in itself, led by Joseph Squeri, chief information officer since October 2013. His predecessor, Tom Miglis, retired after 13 years in the job, during which he powered up information technology to meet not only Citadel’s exacting needs but also those of other firms that became customers of its solutions businesses. A three-decade Wall Street veteran with an MBA from Pace University’s Lubin School of Business, Squeri was previously CIO of Barclays’ capital markets and asset management businesses. He has continued to pick up the pace at Citadel. The firm’s analysts and investment professionals “have everything at their fingertips to operate at very high performance levels,” the 51-year-old says. It takes a high-end IT shop to deliver the vast quantities of data and analytical tools that the asset management and quantitative research functions require to produce results for clients. The CIO supervised the build-out of Citadel Securities’ market-making platform; the firm now ranks among the top three interest rate swaps dealers and is mounting a challenge to banks in U.S. government bond trading. “We’re constantly fine-tuning to ensure we adapt to the changing conditions of the marketplace,” says Squeri. That includes developing trade execution pipes with lower latency and faster turnaround times with better pricing. He oversees the trading technology offered to the sell side on a white-label basis, and Citadel continues a sales and operational relationship with Northern Trust Corp. four years after the asset servicer acquired Citadel’s Omnium hedge fund administration business.

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The 2015 Tech 50

1. Jeffrey Sprecher Intercontinental Exchange 2. Catherine Bessant Bank of America Corp. How Endowments and Foundations Can Align Investment Portfolios with Their Missions Sponsored by Fidelity Investments May 22, 2025 3. Phupinder Gill CME Group 4. Lance Uggla Markit 5. Robert Goldstein BlackRock

6. Shawn Edwards & Vlad Kliatchko Bloomberg 7. R. Martin Chavez Goldman Sachs Group 8. Deborah Hopkins Citi Ventures 9. Stephen Neff Fidelity Investments 10. Adena Friedman Nasdaq OMX Group

11. David Craig Thomson Reuters 12. Daniel Coleman KCG Holdings 13. Michael Spencer ICAP 14. Michael Bodson Depository Trust & Clearing Corp. 15. Charles Li Hong Kong Exchanges and Clearing

16. Chris Concannon BATS Global Markets 17. Christopher Perretta State Street Corp. 18. Antoine Shagoury London Stock Exchange Group 19. Kevin Rhein Wells Fargo & Co. 20. Neil Katz D.E. Shaw & Co.

21. Lee Olesky Tradeweb Markets 22. Richard McVey MarketAxess Holdings 23. Seth Merrin Liquidnet Holdings 24. Robert Alexander Capital One Financial Corp. 25. Frank Bisignano First Data Corp.

26. John Marcante Vanguard Group 27. Joseph Squeri Citadel 28. Lou Eccleston TMX Group 29. Claude Honegger Credit Suisse 30. Chris Corrado MSCI

31. David Gledhill DBS Bank 32. John Bates Software AG 33. Michael Cooper BT Radianz 34. Gary Scholten Principal Financial Group 35. Sunil Hirani trueEX Group

36. Hauke Stars Deutsche BÖrse 37. Brian Conlon First Derivatives 38. Jim Minnick eVestment 39. Lars Seier Christensen & Kim Fournais 40. Tyler Kim MaplesFS

41. Jim McGuire Charles Schwab Corp. 42. Steven O'Hanlon Numerix 43. Sebastián Ceria Axioma 44. Yasuki Okai NRI Holdings America 45. Stephane Dubois Xignite

46. Mazy Dar OpenFin 47. Brian Sentance Xenomorph Software 48. Mas Nakachi OpenGamma 49. John Lehner BNY Mellon Technology Solutions Group 50. Jock Percy Perseus