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The other reason to join Citadel's Miami office: Ken Griffin pays for all these outings

As we noted the other day, Citadel's intention to move to a new Miami office is now nearly two years old, but the relocation of Citadel staff is still in progress. As the firm prepares to have 400-500 people in Miami by the end of the year, CEO Ken Griffin is busy making staff feel at home. 

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Griffin is personally paying for all kind of entertainment for Miami-based employees at both Citadel and Citadel Securities. 

The events take place once a month, and cover everything from sports, to arts, exercise and good deeds in the community. So far in 2024, for example, Citadel's Miami employees have been indulged with: a trip to the UFC 299 Mixed Martial Arts event in Citadel's suite at Miami's Kayesa Center stadium, a Lunar New Year Celebration at Miami's Wynwood Walls street art museum; and a trip to see the musical Hamilton at the Adrienne Arsht Centre. 

In 2023, Citadel's Miami excursions included a Halloween party at the "famously haunted" Alfred I. duPont Building, which doubles as a luxury wedding venue. There was a viewing reception at the Pérez Art Museum. There was also a Miami Beach clean-up and a bike-ride to raise money to fight cancer, organized by the Miami Dolphins. 

And in the coming months, Citadel's Miami staff will be attending games from the Miami Dolphins and watching the F1 Miami Grand Prix.  

The array of funded activities appear popular with Citadel's Miami employees, one of whom described the trip to UFC 299 as a "dream come true."

Publicly available information suggests that Citadel has only a handful of portfolio managers in Miami so far, alongside quants, technology and support staff. Griffin himself moved to Miami in 2022. Citadel currently occupies an office in the financial centre on Biscayne Boulevard, but has plans to construct an "iconic tower" at Brickell Bay. 

Griffin's staff entertainment spending isn't limited to Miami. In 2022, he treated 10,000 Citadel staff members and their families to a three-day trip to Disney World. In 2023, the firm ran more than 100 large staff events globally. 

Griffin's employee entertainments come as banks have been cutting back on such things. Credit Suisse's Paris bankers had a little three-day holiday in Marrakech last year, but participants made a contribution towards this themselves. Goldman Sachs last year had a candlelit meeting on a tropical beach, but the invitation was only extended to partners. 

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email Signal also available.

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AUTHORSarah Butcher Global Editor

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