Ken Griffin moves hedge fund headquarters to Miami

Billionaire hedge fund manager Ken Griffin moves his company headquarters from Chicago to Miami.

In a note to employees Thursday, Griffin said his investment company, Citadel, will move to new headquarters in Miami’s financial district after more than 30 years in Chicago. Citadel, which has about 1,000 employees in Chicago, will maintain an office in the city, but many are expected to relocate its business location to the Sunshine State, where Florida resident Griffin recently moved with his family.

“Chicago will continue to be important to Citadel’s future as many of our colleagues have deep ties to Illinois,” Griffin said in his note. “However, over the past year, many of our Chicago teams have asked to relocate to Miami, New York and our other offices around the world.”

Citadel has more than 4,000 employees in 17 offices worldwide.

The richest man in Illinois, Griffin, founded Citadel in 1990 and built it into one of the largest hedge funds in the world. With an estimated value of $16 billion, he has long been a civic force in Chicago, donating more than $1 billion to organizations such as the Art Institute, the Museum of Modern Art, and the Museum of Science and Industry, announcing that it would be renamed from Griffin in 2019 in honor of his name.

But Griffin has also been a sharp critic of the city in recent years. In an October appearance for the Economic Club of Chicago, Griffin cited increased crime and violence on the city’s streets as one of the many reasons Citadel, which has $38 billion in assets under management, considered moving to greener areas. farm pastures.

More to come.

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