Maybe 46 is too young for retirement, even if you’re very rich and you have a stunning wife.
Citadel LLC is bringing back Jeff Runnfeldt to run its first standalone stock-picking unit, reports the Wall Street Journal. Who says you can’t go home again?
Runnfeldt “retired” three years ago along; in the interim two other heads of global equities have departed the Chicago-based hedge fund. Judging from his wife’s Instagram account, he’s been having a pretty grand time.
This time round Runnfeldt will be leading a San Francisco office, slated to open this fall. The plan: 10 trading teams managing $1 billion — 10x that if you include leverage.
The new stock-picking group is yet another step in the incredible recovery Citadel has put together after suffering huge losses in 2008. The firm’s Global Equities Fund was up 23.4% last year, and 8.7% in the first five months of 2015.
Runnfeldt says that the unit will operate very independently, and he’s seeking senior portfolio managers to join his new team. Runnfeldt is looking for specialists to cover consumers, financials, energy, healthcare, industrials and technology, media and telecom stocks.