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Hedge fund Citadel to move headquarters to Miami from Chicago

By Svea Herbst-Bayliss BOSTON (Reuters) - Citadel, the $51 billion hedge fund founded by billionaire investor Ken Griffin, is moving its global headquarters to Miami from Chicago,...
Hedge fund Citadel to move headquarters to Miami from Chicago © Reuters. FILE PHOTO: Miami's cityscape and a port are reflected in the sunroof of a car in Miami, Florida, U.S., June 21, 2019. REUTERS/Carlo Allegri/File Photo

By Svea Herbst-Bayliss

BOSTON (Reuters) - Citadel, the $51 billion hedge fund founded by billionaire investor Ken Griffin, is moving its global headquarters to Miami from Chicago, becoming the latest investment firm to shift offices to Florida in the wake of the pandemic.

Griffin is the wealthiest resident in Illinois with an estimated net worth of $25 billion. The decision to relocate the hedge fund and Citadel Securities, the electronic trading firm, was motivated by Florida's business-friendly climate and tax advantages, and concerns about rising crime rates in Chicago, people familiar with his thinking said.

"I am excited to have recently moved to Miami with my family and look forward to rapidly expanding Citadel in a city so rich in diversity and abounding with energy," Griffin wrote to employees announcing the planned move in a note seen by Reuters. "Miami is a vibrant, growing metropolis that embodies the American Dream."

The firm follows in the footsteps of prominent hedge fund managers Carl Icahn and Paul Singer whose firms moved to Florida from New York as employees longed for better weather and access to outdoor activities, a huge draw during the pandemic. Florida also does not collect state income tax.

Citadel is one of the world's most successful hedge funds and has been headquartered in Chicago for more than three decades. The firm employs 1,000 people at it headquarters, 10% less than two years ago, a statistic that Citadel executives say underscores how tough it is to recruit top talent to Illinois. About 4,000 people work at the firm in 17 offices around the world.

Citadel executives have expressed concerns about crime in Chicago, noting a Citadel employee was stabbed a block from the office while walking to work, that someone tried to carjack Griffin's vehicle, and that protests have occurred outside of the Chicago headquarters.

The firm's move will deal another blow to Chicago's business community after Boeing (NYSE:BA) recently said it would move its headquarters to Arlington, Virginia and Caterpillar (NYSE:CAT) announced plans to relocate to Irving, Texas. And it will likely put a dent in philanthropic giving after Griffin, who was born in Florida, donated more than $600 million to local educational, cultural, medical and civic organizations.

At the start of the pandemic, Citadel established a beachhead at the Four Seasons Palm Beach hotel to ensure fluid trading as COVID-19 locked down many businesses.

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27-06-2022 22:25:58 (UTC+7)

EUR/USD

1.0613

+0.0060 (+0.56%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (1)

EUR/USD

1.0613

+0.0060 (+0.56%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (1)

GBP/USD

1.2309

+0.0047 (+0.38%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (5)

USD/JPY

135.13

-0.04 (-0.03%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (2)

AUD/USD

0.6945

-0.0003 (-0.04%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (4)

Sell (3)

USD/CAD

1.2873

-0.0021 (-0.16%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (7)

EUR/JPY

143.40

+0.74 (+0.52%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

EUR/CHF

1.0137

+0.0029 (+0.28%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (2)

Gold Futures

1,823.05

-7.25 (-0.40%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Silver Futures

21.267

+0.108 (+0.51%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

Copper Futures

3.7800

+0.0355 (+0.95%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (0)

Sell (7)

Crude Oil WTI Futures

109.03

+1.41 (+1.31%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (3)

Sell (2)

Brent Oil Futures

110.47

+1.37 (+1.26%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

Natural Gas Futures

6.316

+0.035 (+0.56%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (2)

US Coffee C Futures

220.83

-2.42 (-1.08%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

Euro Stoxx 50

3,547.05

+13.88 (+0.39%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

S&P 500

3,924.75

+13.01 (+0.33%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

DAX

13,207.29

+89.16 (+0.68%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

FTSE 100

7,277.15

+68.34 (+0.95%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Hang Seng

22,229.52

+510.46 (+2.35%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

US Small Cap 2000

1,780.35

+17.89 (+1.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

IBEX 35

8,269.68

+25.58 (+0.31%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

BASF SE NA O.N.

42.860

+0.645 (+1.53%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (2)

Bayer AG NA

59.63

+1.84 (+3.18%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Allianz SE VNA O.N.

181.60

+0.40 (+0.22%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (2)

Adidas AG

172.40

+2.04 (+1.20%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

Deutsche Lufthansa AG

5.984

+0.018 (+0.30%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Siemens AG Class N

104.14

+1.52 (+1.48%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (6)

Deutsche Bank AG

8.887

-0.032 (-0.36%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (3)

 EUR/USD1.0613↑ Buy
 GBP/USD1.2309Neutral
 USD/JPY135.13Neutral
 AUD/USD0.6945↑ Buy
 USD/CAD1.2873↑ Sell
 EUR/JPY143.40↑ Buy
 EUR/CHF1.0137↑ Buy
 Gold1,823.05↑ Sell
 Silver21.267↑ Sell
 Copper3.7800Neutral
 Crude Oil WTI109.03Buy
 Brent Oil110.47↑ Buy
 Natural Gas6.316↑ Buy
 US Coffee C220.83↑ Sell
 Euro Stoxx 503,547.05↑ Buy
 S&P 5003,924.75↑ Buy
 DAX13,207.29↑ Buy
 FTSE 1007,277.15↑ Buy
 Hang Seng22,229.52↑ Sell
 Small Cap 20001,780.35↑ Buy
 IBEX 358,269.68↑ Buy
 BASF42.860↑ Buy
 Bayer59.63↑ Buy
 Allianz181.60↑ Buy
 Adidas172.40↑ Buy
 Lufthansa5.984↑ Sell
 Siemens AG104.14↑ Sell
 Deutsche Bank AG8.887Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,775/ 6,845
(15/ 5) # 1,667
SJC HCM6,790/ 6,860
(5/ -5) # 1,683
SJC Hanoi6,790/ 6,862
(5/ -5) # 1,685
SJC Danang6,790/ 6,862
(5/ -5) # 1,685
SJC Nhatrang6,790/ 6,862
(5/ -5) # 1,685
SJC Cantho6,790/ 6,862
(5/ -5) # 1,685
Cập nhật 27-06-2022 22:26:01
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$1,822.17-8.79-0.48%
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Sản phẩmVùng 1Vùng 2
RON 95-V33.47034.130
RON 95-III32.87033.520
E5 RON 92-II31.30031.920
DO 0.05S30.01030.610
DO 0,001S-V30.81031.420
Dầu hỏa 2-K28.78029.350
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WTI$109.32-2.63-2.41%
Brent$114.78-2.42-2.11%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.080,0023.390,00
EUR23.932,6125.273,13
GBP27.815,2929.001,83
JPY167,64177,48
KRW15,5718,97
Cập nhật lúc 18:53:21 27/06/2022
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