Schonfeld is making a decisive move to reinforce its senior leadership cadre, further amplifying its strategic capabilities as the firm positions itself for the next phase of expansion within the intensely competitive world of multi-strategy hedge funds. The investment firm, which now manages approximately $15.5 billion in assets, has announced a major leadership addition: Andrew Philipp, currently serving as the Chief Financial Officer of Citadel and its sister company, Citadel Securities, will join Schonfeld as co-president. This development, disclosed through an internal memorandum from CEO Ryan Tolkin and later reviewed by Business Insider, underscores Schonfeld’s ongoing commitment to scaling its operations and deepening executive expertise at the highest level.
According to Tolkin’s message to employees, Philipp’s appointment represents a pivotal step in the firm’s long-term growth plan. The memo elaborates that Andrew Philipp, an accomplished executive known for his financial acumen and strategic insight, will take on a significant leadership role as Schonfeld continues to expand its global footprint. He will collaborate closely with CEO Ryan Tolkin, current president Andrew Fishman, and other senior figures within the organization to shape the company’s evolving direction. In addition to overseeing major initiatives, Philipp is expected to serve as a bridge between Schonfeld and its most important constituencies — including investors, key counterparties, and future talent — effectively acting as an ambassador for the firm’s culture and strategic aspirations.
At 43 years old, Philipp is departing Citadel after a four-year tenure that positioned him at the center of one of the industry’s most complex and high-performing financial organizations. His transition to Schonfeld is scheduled for September 2026, at which time he will assume co-presidential responsibilities alongside Fishman. The internal memo further clarifies that Fishman, who joined the company in 2000 and has served as president since 2004, will remain in his role, providing continuity and institutional knowledge during this transformation. Requests for comment from representatives of both Schonfeld and Citadel were declined, consistent with standard industry discretion during leadership transitions.
In the interim, Philipp’s team at Citadel will directly report to Chief Operating Officer Gerald Beeson, an experienced executive who previously held the CFO position for nearly eighteen years before Philipp’s arrival. Beeson’s deep familiarity with the firm’s financial infrastructure ensures stability until a suitable successor to Philipp is appointed. According to a person close to the matter, this interim structure was designed to minimize disruption while maintaining operational excellence across both Citadel entities.
Schonfeld’s recruitment of one of the hedge fund world’s most prominent young executives represents a notable achievement for Tolkin and his leadership team. The move not only bolsters the firm’s senior oversight but also signals Schonfeld’s determination to compete on equal footing with industry giants such as Millennium Management and Citadel. Over the past several months, Tolkin has methodically strengthened Schonfeld’s executive ranks, complementing Philipp’s appointment with other high-profile hires. For instance, during the summer, the firm brought on Michael Grad—formerly the head of business development at BlueCrest Capital Management—as Chief Investment Initiatives Officer, and Tracy Backofen, a veteran leader from Goldman Sachs, who assumed the newly created role of Global Head of Human Capital Management. These additions collectively form part of Schonfeld’s broader effort to refine both its strategic vision and operational scalability.
Philipp’s professional background reinforces his suitability for this influential position. He began his career at Goldman Sachs, one of the world’s most prestigious investment banks, where over sixteen years he rose steadily through the ranks to become a partner. During that period, he accumulated extensive experience in global financial markets, holding distinguished titles such as Global Chief Market Risk Officer and Chief Risk Officer for the Europe, Middle East, and Africa region. His move to Citadel in 2021 marked a natural continuation of his career trajectory, transitioning from banking into a prominent leadership post within one of the most sophisticated hedge fund organizations worldwide.
Tolkin, in his memo, framed Philipp’s recruitment as part of a carefully orchestrated multi-year strategy to enhance both the depth and the breadth of Schonfeld’s senior leadership. He emphasized that this deliberate effort is intended to mirror the growing complexity of the firm’s operations and the increasing demands of managing capital across multiple investment strategies. By enlarging its executive bench with leaders seasoned in global markets, Schonfeld is positioning itself to better navigate the competitive pressures and structural shifts that define the hedge fund sector today.
However, Schonfeld’s journey has not been without challenges. The firm’s rapid rise earlier in the decade faced a significant pause in 2023 when a succession of performance setbacks and investor redemptions forced it to reassess its trajectory. During that turbulent period, Schonfeld even considered a potential partnership with Millennium, led by Izzy Englander, as a strategic contingency. Nevertheless, CEO Ryan Tolkin continued to articulate a vision of establishing Schonfeld as an independent powerhouse operating at the same elite level as its larger peers, including Millennium and Ken Griffin’s Citadel. By 2024, the firm had regained its rhythm, achieving a robust 19.7% return in its flagship Partners Fund — a performance that notably outpaced many competitors across the same period. As of October, the fund remained up by 8.4%, consolidating Schonfeld’s renewed momentum and reestablishing investor confidence.
In essence, the appointment of Andrew Philipp marks both a symbolic and practical reinforcement of Schonfeld’s renewed growth ambitions. It encapsulates the firm’s broader agenda: to combine seasoned leadership, disciplined strategy, and selective talent acquisition in pursuit of long-term excellence within the fiercely contested landscape of global hedge funds.
Sourse: https://www.businessinsider.com/schonfeld-hires-citadel-cfo-andrew-philipp-president-memo-2025-11
