Microsoft’s Chief Operating Officer, B. Kevin Turner, is departing his position at the end of July to join Citadel Securities (Citadel) as Chief Executive Officer and Vice Chairman, signifying a major executive move from IT to the finance industry.
Citadel is a leading global market-maker in fixed-income and equity securities, and the new role for Mr. Turner with the firm will become effective after a short transition period from Microsoft, as per an official statement. Finance Magnates reported in May when the company was in talks to buy an automated trading desk from Citigroup.
It is an incredible honor for me to serve in this important role, and I am grateful to Ken Griffin and the entire Citadel Securities team for the trust they are placing in me.
COO role will end July 31st
Mr. Turner spent just over a decade as COO for the technology giant Microsoft, where he led more than 51,000 employees across 191 countries and built a successful track-record across various functions at the company.
Before joining Microsoft, Mr. Turner worked for Walmart for nearly two decades having first joined as a cashier and then climbing the corporate ladder to eventually become CIO for the retail conglomerate.
Last year, under Mr. Turner’s leadership the company had $90 billion in revenues, as highlighted in an announcement from Citadel regarding the development. His departure from Microsoft will be effective as of July 31st, as he prepares for the new role with Citadel.
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“It is an incredible honor for me to serve in this important role, and I am grateful to Ken Griffin and the entire Citadel Securities team for the trust they are placing in me,” said Mr. Turner, commenting in a statement.
Mr. Turner added: “Citadel is a global technology leader, recognized for its work to level the playing field for investors and make markets more fair, transparent and efficient. I look forward to leading this exemplary team as we grow this global business. I also want to express my sincere personal thanks to Satya Nadella for his leadership and mentorship, and to colleagues at Microsoft for their friendship, hard work and dedication.”
Citadel’s founder and CEO Kenneth Griffin commented regarding the new appointment: “Kevin is a world-class business builder with experience managing large and complex organizations. He will be an outstanding leader for Citadel Securities.”
Mr. Griffin added: “Kevin is a proven innovator who brings expertise in technology and operations with a client-first focus. I’m confident that under Kevin’s leadership we will further distinguish ourselves as the partner of choice for our clients.”
Kevin has made a tremendous impact at Microsoft over the past 11 years.
Microsoft updates staff on news
In an email to staff today at Microsoft, posted on the company’s website shortly afterwards, Satya Nadella explained: “Kevin has made a tremendous impact at Microsoft over the past 11 years. He built the sales force into the strategic asset it is today with incredible talent while at the same time more than doubling our revenue and driving customer satisfaction scores to the highest in company history. I have learned a lot from Kevin over these past few years and wish him all the best as he takes on this broader CEO role.”