Three former executives at Chicago-based hedge fund Citadel are launching a computer-driven fund, the Wall Street Journal reported on Tuesday.
The executives are Matthew Andresen, former co-head of a Citadel equity market-making group; Jason Lehman, head of the global options business; and Neil Fitzpatrick, responsible for operations at a Citadel equities and options trading unit, according to the Journal.
The fund, called Headlands Technologies, may include trading in stocks, options and futures markets, the newspaper reported.
A handful of high-level executives have left Citadel in the last year as founder Ken Griffin expanded into investment banking and tried to recoup hedge fund losses, but the three executives founding Headlands were from a different area of the fund, according to the Wall Street Journal.
(Reporting by Elinor Comlay; Editing by Gary Hill)