here's the link. http://www.bloomberg.com/apps/news?pid=20601080&sid=ajDRSBCmjGpk&refer=asia Citadel Shuts Asian Principal Investments, Tokyo Office Email | Print | A A A By Bei Hu Dec. 8 (Bloomberg) -- Citadel Investment Group LLC, the hedge fund manager founded by Kenneth Griffin, will close down its Tokyo office and Asian principal investments operations by the end of the year, cutting 37 jobs in the region. Katie Spring, a spokeswoman in Citadelâs Chicago head office, confirmed the decision today. Citadelâs Asian investments will be run from Hong Kong in the future. âWe continue to evolve the business to focus on the greatest potential opportunities and to scale back where the opportunity set is no longer as attractive,â Spring said. Twelve people will lose their jobs as a result of the Tokyo office closure. Another 25 will be laid off in Hong Kong. Nick Taylor, who heads the principal investments division in Asia and Europe, will be leaving the firm. After the job cuts, Citadel will retain 25 to 30 employees in Hong Kong. Citadelâs principal investments business invests in companies undergoing or about to go through events such as mergers and acquisitions, spinoffs, asset sales and legal challenges. The changes were previously reported by Nikkei English News. To contact the reporter on this story: Bei Hu in Hong Kong at bhu5@bloomberg.net.
Ah damn, now it looks like I was spreading panic with my exaggerated title. Oh well, that's hearsay for you. I told ya what I heard.