Citadel LLC
| Citadel LLC
|
|
|---|---|
 |
|
| legal form | Limited Liability Company |
| founding | 1990 |
| Seat |
Chicago , Illinois , United States
|
| management | Kenneth C. Griffin ( CEO ) |
| Branch | Financial services |
| Website | www.citadel.com |
Citadel LLC is a US financial services company that operates hedge funds , among other things .
history
In 1987, then nineteen-year-old Harvard student Kenneth Griffin began trading convertibles from his dormitory . He was so successful at it that he made a million dollars in a short period of time and caught the attention of hedge fund manager Frank Meyer. He helped Griffin found the Wellington Financial Group, with which Griffin moved to Chicago in 1990 and carried out arbitrage deals on convertible bonds. In 1994 the young company changed its name to Citadel. While invested capital was $ 500 million in 1996, that figure doubled in the next two years to $ 1 billion in 1998. The business expanded over several years to include various investment sectors. In 2002, shortly after Enron went bankrupt , Citadel lured a large number of traders with whom the company began its commodities trading. Today Citadel has offices in the United States, United Kingdom and China, as well as an office in Toronto.
Forbes put company founder Griffin's net worth at $ 11.6 billion in 2019, calling him one of the highest-earning hedge fund managers. The company is headquartered in the Citadel Center , a skyscraper in the Chicago Loop . In April 2015, it was announced that former Fed President Ben Bernanke had accepted an advisory role at Citadel.
Individual evidence
- ↑ a b Citadel: Kenneth C. Griffin , accessed June 25, 2019
- ↑ Citadel: About Citadel , accessed June 25, 2019
- ↑ Forbes: Ken Griffin , accessed June 25, 2019
- ↑ The New York Times: Ben Bernanke Will Work With Citadel, a Hedge Fund, as an Adviser , accessed June 25, 2019