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jerryking : market_makers   2

Kevin Turner, Microsoft Executive, to Join Citadel Securities
JULY 7, 2016 |- The New York Times| by NICK WINGFIELD and ALEXANDRA STEVENSON.

A top Microsoft executive, Kevin Turner, is leaving the company to join Citadel Securities as its new chief executive, continuing a wave of executive departures of technology industry leaders to financial firms.

Mr. Turner, Microsoft’s chief operating officer, oversaw Microsoft’s large sales organization, but Microsoft said he would not be replaced. .....Several prominent Silicon Valley executives have been hired by hedge funds in recent years. Bridgewater Associates, the world’s biggest hedge fund, hired a former senior Apple executive, Jonathan J. Rubinstein, this year. Mr. Rubenstein, who earned the nickname “the Podfather” for his work leading Apple’s iPod team, joined Bridgewater as co-chief executive in May.

And Two Sigma Investments, a quantitative hedge fund based in New York, hired Alfred Spector, a senior executive at Google, to be chief technology officer last year.

Citadel Securities is owned by the billionaire Kenneth C. Griffin, who also founded a $25 billion hedge fund called Citadel. Mr. Griffin founded the hedge fund 25 years ago as a young graduate after successfully trading bonds out of his Harvard dorm.

In recent years, Mr. Griffin has made a big push into market, making and electronic trading with Citadel Securities, disrupting a business that was once the domain of banks. It also claims to have 35 percent share of daily retail stock trading in the United States.
Microsoft  Citadel  hedge_funds  CEOs  departures  resignations  appointments  brokerage_houses  Ken_Griffin  market_makers 
july 2016 by jerryking
Ping - We Rent Movies, So Why Not College Textbooks?
July 4, 2009 | - NYTimes.com | By MIGUEL HELFT. Chegg.com, a
company that rents textbooks to college students. The textbook business
is wildly inefficient. With demand for good deals on textbooks running
high, Chegg’s success comes in large part from being able to address
those inefficiencies. While Chegg primarily rents books, it is also
essentially acting as a kind of “market maker,” gathering books from
sellers at the end of a semester and renting — or sometimes selling —
them to other students at the start of a new one. That provides
liquidity to the market.
business_models  Netflix  textbooks  second_hand  Colleges_&_Universities  e-commerce  rentals  Chegg  inefficiencies  market_liquidity  market_makers 
july 2009 by jerryking

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