MIAMI – One of the largest hedge funds in the world is moving to Miami.
Ken Griffin is moving the headquarters of his $51 billion fund Citadel and Citadel Securities from Chicago to Miami.
Griffin reportedly likes Florida’s business-friendly climate and tax advantages and is concerned about Chicago’s rising crime rate.
Citadel’s Chicago headquarters currently employs about 1,000 people.
Miami Mayor Francis Suarez reacted to the news in a tweet saying “I want to give a warm Miami welcome to my friend, Ken Griffin, who I can now officially call a Miamian along with Citadel.”
Citadel has been headquartered in Chicago for more than 30 years and is the world’s most successful hedge funds.
The company is no stranger to South Florida. It was able to set up a makeshift trading floor during the peak of COVID-19 pandemic at the Four Seasons hotel in Palm Beach.