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Citadel resolves spat with JP Morgan

JP Morgan Chase & Co and Citadel Investment Group resumed trading with each other on Friday, one day after the bank had cut off the hedge fund over a hiring dispute, a person familiar with the matter said.

"The dispute has been resolved," a person familiar with the hedge fund said on Friday.

Citadel’s officials could not be reached for comment at the office.

Citadel, one of the world’s largest hedge fund firms with roughly $20 billion in assets, clashed with JP Morgan because it had hired a string of executives from America’s second largest bank this year, people familiar with the matter said.

They said JP Morgan told employees to stop trading stocks, bonds and currencies with Citadel on Thursday morning, essentially prohibiting anyone from buying or selling with the hedge fund.

By Friday, the differences had been resolved and business was back to normal, the person said.

 

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