Hedge fund giant Citadel has told some of its quantitative research staff in Hong Kong to either relocate to other offices or leave the company, according to a Financial Times report.

The move affects key researchers working in the firm's Hong Kong operations, though the specific number of employees impacted was not disclosed. The Financial Times first reported the development, which was subsequently picked up by Bloomberg.

Citadel, founded by billionaire Ken Griffin, is one of the world's largest hedge funds and market makers. The firm has significant operations across multiple global financial centers, including Chicago, New York, London, and various Asian markets.

The timing of this staffing change comes amid broader shifts in the financial services industry's presence in Hong Kong. Many international firms have been reassessing their operations in the city following political and economic changes in recent years.

Quantitative researchers, often called 'quants,' play a crucial role in modern hedge fund operations by developing mathematical models and algorithms used for trading strategies. These positions are typically highly specialized and well-compensated within the financial industry.

Neither Citadel nor the affected employees have publicly commented on the reported ultimatum or the reasons behind the decision to restructure the Hong Kong research operations.