Oliver Weisberg has quit his role as a managing director of Citadel to help run a family office for Alibaba Group Holding Ltd executives, Bloomberg reported, citing two people with knowledge of the matter.
Weisberg will leave the hedge fund firm led by Kenneth Griffin at the end of June, Mike Geller, a spokesman for Citadel, said.
Weisberg will join the new family office being set up in Hong Kong by Joseph Tsai, Alibaba’s vice chairman, according to one of the people. The family office will also manage the wealth of some other founders of Alibaba, Bloomberg said.
Tsai plans to create an investment programme to generate long-term steady returns for a few families, Bloomberg said, citing Jim Wilkinson, a spokesman for Tsai.
Weisberg will co-manage the firm with Alexander West, who has been running Blue Pool Capital, the existing Hong Kong-based family office of Tsai, according to the report.
