As the founder and head of the Chicago-based hedge fund Citadel, Griffin is reported to be worth $2.3 billion, making him the fifth-richest Chicagoan and 159th-richest American, according to. from 8 AM - 9 PM ET. Citadel runs the biggest hedge fund in Chicago, with about $26 billion under management. Category: Richest Celebrities Actors Net Worth: $300 Thousand Date of Birth: Aug 29, 1973 (49 years old) Place of Birth: Berkeley Gender: Male Height: 5 ft 11 in (1.8288 m) Adam Cooper net worth and salary: Adam Cooper is a Dancer who has a net worth of $1.9 Million. Founder, CEO and Co-CIO Griffin owns approximately 85% of the firm. This year, we've counted 40 names in the hedge fund industry. E*TRADE shareholders have waited long enough. Net Worth in 2023. We thank Adam for his nearly two decades of dedication to Citadel. We believe it is time for E*TRADEs shareholders to come first. In the past two years, he has bought four out-of-state properties: a floor of a building overlooking New Yorks Central Park; a mansion in Aspen; and a vacation homeas well as a separate parcel of landon Hawaiis Big Island. $2,000 The earliest donation in the databases: On June 12, 1998, Ken gave two separate $1,000 contributions to Daniel Inouye, the Democratic U.S. senator from Hawaii. I am grateful to Adam for his leadership on so many fronts and wish him the best over the years to come., Finance Magnates is a global B2B provider of multi-asset trading news, Accordingly, Citadel hereby requests that the Company promptly call a Special Meeting of its shareholders in order to consider and vote on the following critical matters aimed at maximizing value for all shareholders and increasing Board accountability: 1.A non-binding advisory shareholder resolution that a Special Committee of the Board, comprised of Directors who have joined the Board within the past three years, promptly retain the services of a nationally recognized investment banking firm that has not previously advised the Company or the Board to undertake a review of its strategic alternatives in order to maximize shareholder value, including a possible sale of the Company. He played the lead role in Matthew Bournes contemporary dance production of Swan Lake. And the Responsibility Rests with the Board. Because it uses computerized trading algorithms, Citadel executes a large number of tradesapproximately 8 percent of all trades on U.S. stock markets, as well as 30 percent of all U.S. trades of options, The New York Times reported in 2008. According to research firm Preqin, hedge funds, on average, returned just a mere 3.78%, the lowest annual return since the 1.85% loss in 2011. In the ensuing panic, customers withdrew billions of dollars of cash and other assets from E*TRADEs bank and brokerage business. Ken gave $70,000 to Rod Blagojevich in 2002 and 2003. He holds a bachelors degree from Baruch College, a branch of the City University of New York. Cooper was Citadel's first Chief Legal Officer and has played a pivotal role in realizing the firm's ambitions as a global financial institution over the past 18 years. adam has 1 job listed on their profile. Represented by the crab, this oceanic crustacean seamlessly weaves between the sea and shore, representing Cancers ability to exist in both emotional and material realms. Mr. Cooper, who joined Citadel in 1998, has served in several roles with Kenneth Griffin, the founder and Chief Executive Officer of Citadel. See the complete profile on LinkedIn and discover adam's . The education details are not available at this time. $200 per post at $10/CPM. [40], Citadel manages funds across five different investment strategies including equities, commodities, fixed income, quantitative strategies, and credit. Need Proof Adam Aron is Director at Centricus? It consistently receives high marks for its trading platform, customer service and usability, and has benefited from strong customer loyalty. Cooper, 54, worked at Citadel for 18 years and plans to spend more time on philanthropic pursuits and with his family after he leaves the firm at the end of February 2017, Zia Ahmed, a. 2.An amendment to the Companys certificate of incorporation to remove the existing staggered Board provisions to give shareholders a meaningful voice in choosing the Companys future. After selling his place in Lake Point Tower, he now owns the penthouse in the Park Hyatt and a condominium in the same building that houses the Four Seasons Hotel. English dancer and choreographer who has danced in classical ballets and is a former Principal of the Royal Ballet in London. When public opinion goes against your business, do as Citadel Investment Group has and hedge with a heavy-hitting global compliance director. [44][45][42] In 2006, Citadel's two funds had approximately 10 percent of its assets invested in reinsurance. The SEC said Keefe, 53, will leave her position next month. From 10 years old he gravitated toward the dramatic and began performing in local theater productions. Citadel posted double-digit returns last year while most other hedge funds posted their lowest annual return on record since 2011. As of 2023, Adam Cooper's net worth is $100,000 - $1M. Access your favorite topics in a personalized feed while you're on the go. Copyright Citadel Enterprise Americas LLC or one of its affiliates. Adam Cooper's Net Worth: $42 Million Age, Height & Body Measurements Adam Cooper current age 48 years old. [67], This article is about the hedge fund. He is also a member of Citadel's Portfolio Committee. The climate is pretty rough out there. An article in the South Florida Sun-Sentinel in 1986 described the 17-year-old Griffins software distribution company, EDCOM, which sold discounted educational software to college professors. [61], Following the 2014 publication of Flash Boys by Michael Lewis, who claimed financial markets are "rigged by large, high-speed traders" (also known as "high-frequency traders") Griffin, who was not interviewed by Lewis, shared his views on the book and its allegations during his second congressional hearing. Copyright 2023 "Finance Magnates CY Ltd." All She will report to Adam Cooper, Citadel general counsel. Adam Cooper, Senior Managing Director and General Counsel of Citadel Investment Group, confirmed his definite retirement in February 2017, ending his 18-year tenure with one of the biggest players in the hedge fund industry. Retrieved 2008-03-20, The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It, Merrill Lynch, Pierce, Fenner & Smith Inc. v. Manning, "A Shadowy but Powerful Wall St. Firm Has Its Moment in Washington", "Hedge Fund Selling Puts New Stress on Market", "Citadel Chief Gives Up Dream for Investment Bank", "Citadel Planning $2 Billion Debt Offering", "Hedge Fund Citadel Finds a Way To Keep Financial Independence", "E*TRADE Financial Announces $2.5 Billion Investment Led by Citadel", "Citadel boosts E-Trade stake with $2.5 billion investment", "Citadel to sell its remaining stake in E*Trade", "Citadel's Ken Griffin Leaves 2008 Tumble Far Behind", "Citadel Securities Pays $97m to Settle with China Regulators", "How $34 billion hedge fund Citadel rented out a five-star resort for a month to pull off an in-person summer internship 'bubble' for more than 100 college students", "Ken's Kwarantine Kamp Opens Kohler Location For Eager Interns", "No Trading Floor? The hedge fund, a big shareholder, aggressively calls for three changes, outlined below in the letter. Its not the first time the company has entered into business areas that are unusual for hedge fundsfor example, Citadel created and sells administrative services for other hedge funds, although a late-March report indicated it may sell that part of the company to Northern Trust. He currently works as both a performer and choreographer in musical theatre, and has choreographed and/or starred in award-winning shows such as On Your Toes, Singin' in the Rain and Grand Hotel. [21], In 2014, Citadel rated an A grade for risk management in the annual Institutional Investor Hedge Fund Report Card.[51]. Cooper, 54, worked at Citadel for 18 years and plans to spend more time on philanthropic pursuits and with his family after he leaves the firm at the end of February 2017, Zia Ahmed, a. Cancers are highly intuitive, and their psychic abilities manifest in tangible spaces. Senior Deputy General Counsel Shawn Fagan has been named General Counsel of its hedge fund business. "I guess they may have made this move regardless. Within eight years, the firm had more than $2 billion in assets under management. I am grateful to Adam for his leadership on so many fronts and wish him the best over the years to come.. Citadel sued Malyshev and Kohlmeier in July 2009, claiming they violated their contractual noncompete clause. He is popular for being a Dancer. [37], In 2021, Citadel ranked second among the top money managers for net gains. [60] In the aftermath of the 2008 financial crisis, Griffin and Citadel called for greater transparency in derivatives trading, a stance at odds with many other hedge funds and major financial firms. [20] Citadel under Griffin's leadership was reported as differentiating from hedge funds rivals post-2008 financial crisis with an "aggressive expansion. Fund managers are paid through a compensation structure commonly known as the "2 and 20," which stands for a 2% management fee and a 20% performance fee charge. Citadel received a seat on the board of directors. Griffin has frequently appeared near the top of the list of biggest earnersand once at the top of the list of the biggest losers, for Citadels disastrous 2008. [5], Citadel LLC is a separate entity from the market maker Citadel Securities, although both were founded and are owned by Griffin. Leverage, or borrowing to increase the size of an investment, magnified the losses: In October 2008, in the midst of the crisis, the Chicago Tribune reported that Citadels leverage, which had been 7 to 1that is, it borrowed $7 for each $1 in assetshad diminished to a still-high 4 to 1. Ms. Keefe had been regional director of the Securities and Exchange Commission's Midwest office since 1994; she joined the agency in 1982. Griffin collects impressionist and postimpressionist art with the same passion he brings to running a hedge fund. He is from England. Shawn graduated magna cum laude from Harvard Law School in 1994 and was a recipient of the Sears Prize. She also will serve as associate generalcounsel, reporting to Adam Cooper, the fund's general counsel. View adam cooper's profile on LinkedIn, the world's largest professional community. So who exactly is Kenneth Cordele Griffin? Citadel is a global investment firm built around world-class talent, sound risk management and powerful and innovative technology. And lately they have been major players in the world of political money: Campaign finance records show that Griffin and his wife have donated more than $3 million to candidates and political action committeesincluding $450,000 last fall to Republican Bill Brady in the tight 2010 Illinois governors race. While the Griffins love for art is widely known, the art worlds secrecy keeps specific acquisitions and their prices from publication. Forbes' magazine has just released its annual world's billionaires list. Griffin's stake in Citadel's hedge fund business, which manages about $43.1 billion, is worth $3.7 billion. On November 12th, 2007, amid announcements of massive write-downs from the Companys failed mortgage investments, E*TRADEs stock dropped by more than 58%. It is planning to hire a general counsel for Citadel Securities in early 2017, Ahmed said. Citadel employees have frequently followed their bosss entrepreneurial spirit and struck out on their own, founding new financial firms, including Polygon Investment Partners, Headlands Technologies, Senrigan Master Fund, RoundKeep Capital Advisors, Whiteside Energy, Steeplechase Group, and Abax Global Capital. investing. Griffins philanthropy has centered on the arts, children, and education. Citadel declined to comment directly on Keefe's hiring. Sign up for notifications from Insider! Photo: Matthew Staver/Bloomberg via Getty Images, 21 Of The Coolest Perks For Hedge Fund Employees. [52] In January 2017, Joanna Welsh became the Chief Risk Officer. [64][65][66], Citadel paid over $800,000 in speaking fees to current secretary of the treasury Janet Yellen during 20182020 while she was not in office. She previously worked as an analyst of food markets for Salomon Smith Barney. Neither Symmetric nor its content providers are responsible for any damages or losses arising from any use of this information. A 2001 profile in Institutional Investor magazine reported that he got his first fund up and running with $265,000including money from his grandmotherin time to make a killing from his short positions when the market crashed on October 19, 1987, just days after his 19th birthday. Here is a partial list of their contributions (because public access to charities tax documents lags behind their activity by more than a year, donations from the foundations in 2009 and 2010 may be missing from this list): $19 MILLION to the Art Institute in 2006 for the Modern Wing; the main hallway and atrium off the Millennium Park entrance are now the Kenneth and Anne Griffin Court, $996,440 in total from CGF to the Chicago Symphony Orchestra (2002, 2003, 2005, 2007, 2008, 2009), $675,000 in January 2007 to a program at the Chicago Public Education Fund designed to prepare teachers and principals for public schools, $500,000 and the loan of the Jasper Johns painting False Start to a 200708 Art Institute exhibit called Jasper Johns: Gray, $240,000 in total from CGF to the Latin School of Chicago (2005, 2007), $10 MILLION from the couples foundation in October 2009 for the Griffin Early Childhood Center in Chicago Heights, an experimental school headed by the University of Chicago economist John List that opened in September 2010; some children attend free preschool while the parents of other students attend courses at the Parent Academy, $480,171 in total from CGF to Absolute Return for Kids, a London-based charity promoting child health, education, and protection (2002, 2004, 2005), $675,000 in total from CGF to Paul Tudor Joness Robin Hood Foundation (2001, 2002, 2004, 2005, 2006), $566,200 in total from CGF to the Chicago Public Library Foundation (19992010), $16 MILLION from the couples foundation to Childrens Memorial Hospital in January 2010 for an emergency care center in the new building under construction in Streeterville, $2.25 MILLION in 2005 to Woodlawn Secondary School, a charter school operated by the University of Chicago, Between $500,000 and $1 MILLION to Chicago 2016, the nonprofit that ran Chicagos bid for the 2016 Summer Olympics, $403,200 in total from CGF to the Museum of Science and Industry (200609). Griffin has sold a stake in Citadel, a market . He earned the money being a professional Dancer. [10], In 1998, Citadel started requiring investors to accept terms that "significantly restrict[ed] their ability to withdraw their capital", according to Institutional Investor. Net Worth in 2021: $1 Million - $5 Million: Salary in 2020: Under . The Chicago hedge fund, the fourth-largest in the world, is bringing21-year SEC veteran Keefe on board at a time when the industry facesincreased federal regulation and general scrutiny. He holds degrees from the University of Michigan and Northwestern Law. English dancer and choreographer who has danced in classical ballets and is a former Principal of the Royal Ballet in London. By clicking Sign Up, you also agree to marketing emails from both Insider and Morning Brew; and you accept Insiders. Adam C. Cooper is Chief Legal Officer; Director Of Citadel (Hong Kong) Limited at Citadel Advisors Llc and has been affiliated with Citadel Advisors Llc since August-2007. 1 See J. Alex Tarquinio, The 2011 Broker Survey: Who Tops the List? 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Adam who brought in $3 million and $5 million Networth Adam collected most of his earnings from his Yeezy sneakers While he had exaggerated over the years about the size of his business, the money he pulled in from his profession real-enough to rank as one of the biggest celebrity cashouts of all time. Citadel, run by founder Ken Griffin, enjoys an excellent reputation inthe industry, and is thought not to trade in the hard-to-price, asset-backedsecurities that have caused problems for the Clinton Group. Federal and Illinois databases for political contributions contain 275 records for Ken and Anne Griffin, totaling $3,038,091. We've included a round up of the richest fund managers in the world. Access your favorite topics in a personalized feed while you're on the go. TOM MIGLIS Miglis is the chief information officer. Their wedding featured a reception at Versailles that Fortune says included performances by Cirque du Soleil and Donna Summer. Hes known to frequently read books about management, hewing to the style of Jack Welch (the former General Electric CEO): having lunch with small groups of employees, for instance, and taking suggestions. $500,000 The largest donation: In 2010, Ken gave $500,000 each to two different political action committeeson October 25th to American Crossroads, an organization, according to its website, dedicated to renewing Americas commitment to individual liberty, limited government, [and] free enterprise and on December 15th to Stand for Children Illinois, a lobbying group focused on issues related to public education. When mortgage-backed securities began tanking in 2007, Magnetars fund with the greatest exposure to CDO trades went up 76 percent, according to ProPublica. 2020 Chicago magazine / A Chicago Tribune Media Group website. Half of the current Board members (Ronald Fisher, Michael Parks, Lewis Randall, Donna Weaver and Stephen Willard) share the remarkable distinction of having presided over the Companys catastrophic mortgage loan investment strategy. There is no doubt that Citadel will continue to lead and transform the industry.". Then she visited Kens apartment and saw his impressionist collection. Shawn Fagan, who joined the firm as Deputy General Counsel in 2005, has been named General Counsel of Citadel's hedge fund business effective immediately. Adam Cooper is a member of Dancer Does Adam Cooper Dead or Alive? [33] Citadel ranks as the eleventh largest hedge fund manager in the world,[34] and in 2006 the second largest multi-strategy hedge fund globally. Salary in 2023. Past performance and skill metrics are no guarantee of future results. [60][61] Griffin has also called for breaking up "too big to fail" banks and separating their banking and trading activities. "Shawn is an outstanding legal mind and a proven leader. Only when confronted with this regulatory action did the Board finally act, with Citadel again stepping forward in 2009 by making a public commitment to invest up to $100 million in E*TRADEs common stock. The hedge fund grew rapidly, often making high-profile moves to snap up distressed or unpopular assets. Keefe, 53,begins her new job in January. Kensington Global Strategies Fund is one of Citadels two largest funds (the other is Wellington). "Land of the Giants" (PDF). We have estimated Adam Cooper's net worth , money, salary, income, and assets. The following annual return numbers were generated from data collected from public sources by the investor Graham Giller and from published sources. Here are some pieces known to be in the Griffins collection: False Start (above) Jasper Johns, 1959 Bought in 2006 for $80 million, the most expensive sale ever for a work by a living artist, Curtain, Jug, and Fruit Bowl Paul Czanne, 189394 Bought in 2004 for an undisclosed amount; the painting sold at auction in 1999 for $60.5 million, Green Dancers pastel, Edgar Degas, circa 1878, Little Dancer, Aged Fourteen (right) bronze sculpture, Edgar Degas, circa 187981, Photography: (top) Jasper Johns/licensed by VAGA, New York, NY; (bottom) courtesy of the Philadelphia Museum of Art (which also owns a copy of the sculpture), Trustee Museum of Contemporary Art Chicago, Vice Chairman Chicago Public Education Fund, a charity that raises venture capital for public education programs, Member G100, an invitation-only organization of CEOs of the worlds largest and most significant companies, Member Committee on Capital Markets Regulation, a nonprofit research organization dedicated to improving the regulation of U.S. capital markets, Member advisory board, Eurasia Group, a research and consulting firm that advises businesses and government on working in politically uncertain areas of the world, Member board of directors, Chicago Public Library Foundation, Member board of directors, Childrens Memorial Medical Center and Childrens Memorial Foundation; Childrens Memorial Investment Committee, Trustee Whitney Museum of American Art, New York, Member advisory board, WomenOnCall.org, a network that connects women with volunteer opportunities at nonprofits, Member board of directors, Friends of Island Academy, an organization working to reduce recidivism among criminals released from custody in New York City. Citadel Names Shawn Fagan General Counsel of its Hedge Fund Business. Nonetheless, we compiled a dossier of information about Griffin, producing a portrait of a passionate, motivated, and phenomenally rich man. In 2003, Griffin married Anne Dias, who runs the hedge fund Aragon Global Management, which deals in communications, financial, and consumer stocks. p. 3. As part of Citadel's guest speaker series, which brings the firm's team members face-to-face with icons in business, technology, and beyond, Adam sat down with Cubs . Hes also a philanthropist, a political player, a benefactor of the artsand a person with a penchant for privacy. He currently resides in England, United Kingdom. Hedge funds typically collect a flat 2 percent of what investors place with the fund and keep 20 percent of the gains. [59], Citadel has played an active role in regulatory affairs and has advocated for financial legislation on market structure. "Adam has made many valuable contributions in helping build Citadel into one of the world's leading financial institutions. I am grateful to Adam for his leadership on so many fronts and wish him the best over the years to come," said Ken Griffin. E*TRADE is one of the most recognized and popular online brokerage firms in the industry. Griffin told the Chicago Tribune in 2006, I hope in 15 or 20 years well have the same reputation that General Electric had: People have great careers at Citadel, and if they leave, they have great careers elsewhere. Not every Citadel vet has had smooth sailing, however: ALEC LITOWITZ An employee until 2003, Litowitz created the Evanston-based hedge fund Magnetar in 2005. Company News / Adam Cooper, Citadel's Chief Legal Officer, To Retire After 18 Years of Service December 20, 2016 Share on 1 / 12 Company News Hedge Fund Journal Lists Three Citadel Women Among 50 Leading Women in Hedge Funds View Article 2 / 12 Company News Ken Griffin Moving Citadel From Chicago to Miami View Article 3 / 12 Company News He currently works as both a performer and choreographer in musical theatre, and . However, they rebounded with a 62% return in 2009. American venture capitalist and attorney Adam Dell is best known as the younger brother of Michael Dell, who is the founder of Dell Inc. company. Citadel's Adam Cooper writes that E-trade is still burdened by a disastrous foray into mortgage-related securities and reminds the company that it was saved after plunging 58% in one day by a $2.5 billion cash infusion led by Citadel. Citadel LLC (formerly known as Citadel Investment Group, LLC) is an American multinational hedge fund and financial services company. He began his investing career while still a Harvard undergraduate, coaxing the school administration into allowing him to install a satellite dish on the roof of Cabot House to receive stock quotes. Under Review. No Problem. He and Anne also started the Kenneth and Anne Griffin Foundation in October 2009. for failing to file required reports as it allegedly tried tohide an auditor's going-concern letter; and a case against the Chicago Stock Exchange for failing to enforce trading rules. If the Company fails to call for a Special Meeting of shareholders by close of business on July 22, 2011, Citadel will submit the attached notice with respect to its approximately 9.8% ownership interest in E*TRADEs common stock in favor of calling a Special Meeting of shareholders to consider the topics set forth above. Citadels offices are at 131 South Dearborn Street in a 37-story building called the Citadel Center. Citadel LLC Hedge fund Chief Legal Officer. Check out Adam Cooper's net worth in US Dollar Feb, 2023. Adam Cooper is Chief Legal Officer of Citadel. Hedge funds, especially the math-focused quant funds such as Citadel, have a reputation for hiring the best and brightest. In the second half of 2008, as the economic crisis that took down the investment banks Bear Stearns and Lehman Brothers deepened, the market for convertible bonds froze up when major financial institutions ran low on cash. [20] Having made up the losses, Citadel could once again charge client fees for managing their money and take a percentage of profits. Fund:Point72 Asset Management (formerly SAC Capital), Fund: Renaissance Technologies (he retired). He has made the list every year since. Founded in 1990 by Ken Griffin, it has more than $62 billion in assets under management as of December 2022. Since November of 2007, the Board has continually failed to act in the best interest of E*TRADE shareholders. In addition, this allowed Citadel to overtake Bridgewater in the list of the most profitable hedge funds in history according to experts from LCH Investments. Griffins Chicago residences have been in buildings known for luxury. This is the story of E*TRADEs poor management decisions. He accumulated most of his wealth . Adam Cooper net worth Feb, 2023 Adam Cooper (born 22 July 1971) is an English actor, choreographer, dancer and theatre director. He currently works as both a performer and choreographer in musical theatre, and has choreographed and/or starred in award-winning shows such as On Your Toes, Singin in the Rain and Grand Hotel. Citadel, which invests $26 billion, split Coopers job in two. He and Anne were first named to ARTnewss (unranked) list of the worlds top 200 collectors in 2004 and have appeared every year since, including in the (also unranked) top-ten list in 2007. YOU HAVE 20,000 FOLLOWERS: $100 per post at a $5/CPM. [36], In 2014, Citadel became the first foreign hedge fund to complete a yuan fundraising as part of a program to allow Chinese investors to invest in overseas hedge funds. [48] In January 2009, Citadel placed New Castle Re into run-off. Citadel Securities brought in $1 billion of earnings before interest, taxes, depreciation and amortization last quarter and $4.1 billion for the year, also a record. The Clinton Group, one of its largest competitors, is under investigation by the SEC and Commodity Futures Trading Commission for possible problems with mispriced asset-backed securities. His net worth has been growing significantly in 2020-2021. [23][24][25], In January 2021, Citadel and Point72 Asset Management invested $2.75 billion in Melvin Capital, after Melvin Capital lost 53% of its value owing to the GameStop short squeeze. "I am grateful to Ken and the entire Citadel team for the opportunity to help build this incredible business," said Adam Cooper. Cancer is a cardinal water sign. He attended Boca Raton Community High School, a public school, where he was president of the math club. 3.The removal of Michael Parks and Donna Weaver as Directors of the Company and the election of qualified independent director replacements. [9] Citadel was originally named Wellington Financial Group after its flagship fund.
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