Month: November 2025

• Schonfeld has hired Citadel CFO Andrew Philipp as co-president, per an internal memo.
• Philipp, a former Goldman Sachs partner, will share the title with current president Andrew Fishman.
• Schonfeld has bolstered its senior ranks this year to better compete with the industry’s top funds.

Schonfeld is adding more firepower to its senior ranks as the firm eyes further expansion in the highly competitive multi-strategy hedge fund space.

The $15.5 billion hedge fund has hired Andrew Philipp, the chief financial officer of hedge fund giant Citadel and its sister trading firm Citadel Securities, as co-president, according to an internal memo from CEO Ryan Tolkin that was seen by Business Insider.

“Andrew, currently the Chief Financial Officer of Citadel and Citadel Securities, will play a crucial leadership role at the firm as we continue to scale strategically, partnering closely with me, our current President Andrew Fishman and other senior leaders, while also acting as an ambassador to clients, major counterparties and talent,” the memo reads.

Philipp, 43, is leaving Citadel after four years and will start the new role in September 2026. He will share responsibilities with Fishman, 66, who is staying on as co-president, according to the memo. Fishman joined Schonfeld in 2000 and has been president since 2004.

Representatives for Schonfeld and Citadel declined to comment.

Philipp’s team at Citadel will report to COO Gerald Beeson in the interim until the firm hires a replacement, according to a person familiar with the matter. Beeson previously served as CFO for 18 years, prior to Philipp’s arrival.

Landing one of the hedge fund industry’s top young executives is a win for Schonfeld and marks the latest major C-suite hire as Tolkin aims to fortify the firm’s position and better compete with industry heavyweights such as Millennium and Citadel.

This summer, Schonfeld hired Michael Grad, former head of business development at BlueCrest, as its chief investment initiatives officer, and Tracy Backofen, a longtime leader at Goldman Sachs, as global head of human capital management.

Philipp began his career as a trader at Goldman Sachs, where he spent 16 years, rising to the position of partner and holding titles such as global chief market risk officer and chief risk officer for EMEA. He joined Citadel in 2021.

“His hire is a continuation of our multi-year efforts to enhance the depth and breadth of our senior leadership team, to support the growth and increasing complexity of our business,” Tolkin said in the memo.

Schonfeld’s rapid ascent earlier in the decade stalled in 2023, when a string of losses and investor outflows pushed the firm to scale back and briefly weigh a potential tie-up with Izzy Englander’s Millennium. Tolkin has long envisioned Schonfeld operating in the same league as Millennium and Ken Griffin’s Citadel.

The firm regained its footing in 2024, delivering a 19.7% gain in its flagship Partners fund — outpacing many competitors. The fund was up 8.4% as of October.