As The Country Burns, Citadel’s Founder Spends $100 Million On A Painting
ZeroHedge, 4 June 2020
While the country burns and millions of Americans scramble to figure out how they’re going to survive once supplemental unemployment benefits expire, Citadel founder Ken Griffin has just dropped a $100 million nut – nearly half the amount he dropped on a Central Park penthouse, and roughly equivalent to the cost of his wintertime Palm Beach Mansion – on a contemporary painting by American artist Jean Michel Basquiat, who died of a drug overdose in 1988.
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Kenneth C. Griffin founded Citadel in 1990 and has since served as the firm’s Chief Executive Officer. He earned his bachelor’s degree from Harvard University. Griffin serves on the Board of Directors of the Chicago Public Education Fund, and the Board of Trustees for the Art Institute of Chicago, the Museum of Contemporary Art Chicago, the Whitney Museum of American Art, and The University of Chicago. He is also a member of numerous business organizations, including G100, the Civic Committee of the Commercial Club of Chicago, and the Economic Club of Chicago.
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Gerald A. Beeson is the Chief Operating Officer of Citadel. As COO, he is responsible for the firm’s key corporate functions globally and is a member of Citadel’s Portfolio Committee. Prior to becoming COO in 2008, Beeson served as Citadel’s Chief Financial Officer, a role he has held since 2003. He joined Citadel in 1993 as an intern and was among the company’s first employees. Gerald received his MBA from the University of Chicago and a bachelor’s degree in Commerce with concentrations in Accountancy and Finance from DePaul University. He is registered as a certified public accountant with the State of Illinois. Beeson is also a trustee of DePaul University .
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James Yeh is President and Co-Chief Investment Officer at Citadel and a member of the Portfolio Committee. James oversees Global Quantitative Strategies, Global Fixed Income and Macro, as well as the advanced analytics that support Citadel’s fundamental equities businesses. James joined Citadel as one of the firm’s first employees in 1993, after completing his Ph.D. in Physics at the University of California, Berkeley. James serves as a Charter Trustee of Princeton University and is a Director of the Princeton University Investment Company.
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Joanna Welsh is Chief Risk Officer at Citadel. Joanna chairs Citadel’s Portfolio Committee. Prior to joining Citadel, Joanna was at Tudor Investment Corporation for 15 years, most recently serving as Chief Risk Officer. With more than 20 years of experience in financial services and risk management, she also held senior risk positions at Commerzbank and Nomura. Joanna received a master’s and bachelor’s degree from Oxford University.
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Justin Lubell is Head of Citadel Global Equities and is a member of Citadel’s Portfolio Committee. He joined the firm in 2019 as a Senior Managing Director and was subsequently appointed Head of Citadel Global Equities in 2020. Prior to joining Citadel, Mr. Lubell spent more than a decade at Point72 Asset Management, where he was a Portfolio Manager specializing in the Media, Internet, Telecom, and Services industries and was a member of the firm’s Risk Committee. Before that, he was a Managing Director within the Equity Derivatives Strategy team at Bear Stearns & Co. He is a CFA charterholder and graduated magna cum laude from the University of Pennsylvania with a dual bachelor’s degree in Economics and Political Science.
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Dr. Ben S. Bernanke was the Chair of the Federal Reserve Board of New York (2006–2014). He is the Senior Advisor at Citadel. From February 2006 through January 2014, he was Chairman of the Board of Governors of the Federal Reserve System, having been appointed to that position by both Presidents Bush and Obama. Before his appointment as chairman, Dr. Bernanke was chairman of the President’s Council of Economic Advisers, from June 2005 to January 2006. From 1994 to 1996, Dr. Bernanke was the Class of 1926 professor of Economics and Public Affairs at Princeton University. Dr. Bernanke had been a professor of Economics and Public Affairs at Princeton since 1985. Doctor of Philosophy degree in Economics in 1979 from the Massachusetts Institute of Technology.
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Todd Barker is Head of Surveyor Capital at Citadel and is a member of Citadel’s Portfolio Committee. Mr. Barker first joined Citadel in 2004 as a member of the Event Driven team and was then appointed Head of Global Equities Primary Strategies in 2005, Portfolio Manager in 2009 and Regional Co-Head of Global Equities San Francisco in 2012. Prior to joining Citadel, Mr. Barker served as a Financial Analyst for the Investment Banking and Equity Capital Markets divisions of Goldman, Sachs & Co. He serves as an advisory board member for the Mgrublian Center for Human Rights at Claremont McKenna College and received a bachelor’s degree from Claremont McKenna College.
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Abe Shulman is the head is Convertible Arbitrage. He joined Citadel in 2013. Prior to assuming his current role, he served as a Portfolio Manager in the Global Credit group focused on convertible bonds and capital structure arbitrage. He began his career at Goldman Sachs where he worked for more than ten years, most recently as a Vice President on the Equity Derivatives trading desk. Mr. Shulman received a bachelor’s degree from Columbia University.
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