Citadel executive Ed O'Reilly, who helped the hedge fund's assets balloon to $67 billion through his role managing relationships with the firm's global investors, is retiring, according to a memo seen by Reuters.
O'Reilly, 57, oversaw the firm's association with investors including pension funds, universities and hospitals. He will leave Citadel later this year and be replaced by firm veterans Andy Adams and Steve Valan who have been promoted to become co-heads of the Client and Partner Group.
"Ed's leadership of the Client and Partner Group has been critical in growing and enhancing our relationships with our capital partners around the world," Citadel chief operating officer Gerald Beeson wrote in the memo, thanking O'Reilly for "his many contributions and unwavering dedication to Citadel over the past decade."
A Citadel spokesman declined to comment and O'Reilly could not be reached for comment.
O'Reilly joined Citadel in 2015 from hedge fund Capula Investment Management and helped assets grow to $67 billion from $26 billion as Citadel investors, happy with the firm's track record of strong returns, added new capital.
Investor visits were critically important and O'Reilly routinely traveled millions of miles annually, visiting some 25 countries every year, investors said.
In 2022, Citadel made headlines when it earned a $16 billion profit, the most of any hedge fund ever.
Founded 35 years ago by billionaire investor and philanthropist Ken Griffin, Citadel employs many teams of traders and portfolio managers to pursue an array of investment strategies. Last year it gained 15.1% and in the first seven months of 2025 it returned 4%.
