The Foundation of Citadel LLC

Citadel LLC is a financial institution founded in 1990 by Ken Griffin. Under its operations, the company is divided into two major divisions; Citadel and Citadel Securities. Citadel division is an asset management segment with a capital base of about $ 26 billion under its portfolio. On the other hand, Citadel Securities that has products such as equity options, equities, and retail swaps, control a substantive proportion of the international market.
Globally, Citadel LLC is among the three hedge Fund companies that have been in existence for over two decades. Because of its good record and exemplary performance, the company has been tasked by major investors to manage their vast investments globally. Some of the products that they manage include University endowment funds, pension schemes, and wealth funds. Citadel LLC has its headquarters located in Chicago. It has offices strategically spread across North America, Europe, and Asia. They have a staff base of over 1400 employees.
In 1978, Kenneth C. Griffin started Citadel LLC while at Harvard University. His primary source of capital for the startup was the contribution from friends and family members. They understood his abilities, and were willing to support him reach his destiny. During the period, he was involved in the trade of convertible bonds. After graduating with a degree in economics, Kenneth C. Griffin sought employment. Glenwood Partners, which is a hedge fund company based in Chicago, absorbed him. In 1990, Griffin launched his company, Citadel LLC, which served as a turning point in his life. He has never looked back since that time.
The 2008 Global financial crisis hurt the company’s major assets. The Kensington and Wellington Funds, which were under their control lost about 55 percent of their value. On average, the company was losing hundreds of millions of dollars in just a week. During the period, the company was accused of being overly confident. Later, Griffin conceded that they were making a mistake, and he put in place measures meant to cover the shareholders.
In 2012, the company’s assets regained its position in the markets, and it enabled them recover the losses they had earlier experienced. Griffin was confident that the profits were a result of the changes that they had instituted to realize the desired output. It has seen Citadel LLC regain its current position as blue chip companies in the world. The effort and beliefs of the management of the business have been vital in the success.
Citadel has played a key role in issues related to market structures. The purpose is evident in its support for legislation to streamline operations of hedge funds. It has opened room for more players, and healthy competition. Kenneth’s ambition and determination are highly applauded as his work continues to touch the market positively. In fact, the family and friends that offered him financial support back then are fully in support of his activities to date.

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