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Citadel Names Jacob Walthour as Head of U.S. Distribution
Citadel hires Jacob Walthour to boost its institutional investor clients.
Casual observers might have forgotten that, in addition to its new investment banking and securities businesses, Chicago-based Citadel Investment Group still has a $12 billion hedge fund. Citadel CEO Kenneth Griffin clearly hasnt lost sight of that fact, and his decision to bring on Jacob (Jake) Walthour, 42, as head of U.S. distribution this month proves it.
Hiring the co-founder of respected New Yorkbased institutional consulting firm Aksia signals that Citadel wants to boost its institutional investor client base, particularly among pensions, foundations and endowments a group the firm has not historically courted. Citadel is now more than just Kensington and Wellington, Walthour says, referring to its flagship hedge funds.
Even so, wooing institutional investors is a slow process. Ive helped build three institutional businesses, he notes. Gaining the trust of these investors can take years not typically the short time frame that results-driven Griffin likes, but it will have to do.