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The Wall Street Journal reports:
Citadel Investment Group became the latest major hedge fund to pull back from Asia, as a sharp market slump diminishes the appeal of a region once seen as a promising source of growth.
Chicago-based Citadel said it was closing its Tokyo office, laying off 12 employees there. It will also cut 25 jobs in its Hong Kong office, representing nearly half of its employees there.
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For Citadel, the move comes amid stinging losses for the once high-flier. According to investors, Citadel lost 13% globally in November, contributing to a 47% decline so far this year.
