The 2014 Tech 50: Joseph Squeri

July 08, 2014

< The 2014 Tech 50: Moving Out of the Lab and Into the Cloud

Joseph Squeri

Chief Information Officer

Citadel

(PNR)

Chicago-based hedge fund firm Citadel evolved into a technology powerhouse during Tom Miglis’s 13-year run as CIO. Miglis (No. 19 last year) retired in March and handpicked his successor, Joseph Squeri, who came on board last October. A 29-year Wall Street veteran, Squeri was most recently CIO of Barclays’ capital markets and asset management businesses. Citadel, which has $20.1 billion under management, offered “a tremendous opportunity to come to the buy side,” says Squeri, who earned a BS in computer science from City University of New York and an MBA from Pace University’s Lubin School of Business. “Marrying technology as a competitive advantage with finance” is how the 50-year-old describes his role. “It’s somewhat of a cliché, but in finance, technology is a key driver of the business.” Squeri oversees technology in the asset management, Citadel Securities and Citadel Technology business units. The last, a five-year-old provider of investment management systems to other firms, entered into a partnership last fall with Goldman Sachs Group spin-off REDI Global Technologies to create what was billed as an “unparalleled end-to-end solution” combining order, execution and position management. Citadel also offers technology to the sell side on a “white label” basis and continues a sales and operational relationship with Northern Trust Corp., which acquired Citadel’s hedge fund administration business in 2011.

The 2014 Tech 50