Microsoft COO Kevin Turner named new head of market-making unit by Citadel

Financial firm Citadel will hire Kevin Turner, Microsoft Corp's chief operating officer, as chief executive of Citadel Securities and vice chairman of Citadel, the two companies said in statements on Thursday. Turner, who has been COO of the technology giant for 11 years, will leave on July 31 to join Citadel, according to Microsoft."Kevin is a world-class business builder with experience managing large and complex organizations," Citadel founder and CEO Kenneth Griffin said in a statement. "Kevin has made a tremendous impact at Microsoft over the past 11 years," Microsoft Chief Executive Officer Satya Nadella added in a separate statement. "I have learnt a lot from Kevin over these past few years and wish him all the best as he takes on this broader CEO role."Citadel, based in Chicago, is best known for its hedge funds and managed $24 billion in investments as of June 1. But it is also a major market maker for fixed income and equity securities through its Citadel Securities division. The unit's leaders, Jamil Nazarali and Paul Hamill, will now report to Turner, according to spokesman Katie Spring.Reuters