Who is Ken Griffin? Citadel CEO moving Chicago firm to Miami

More than two years into the COVID-19 pandemic, the work-from-home life that began as a necessity has emerged as the new (and preferred) normal for millions of Americans. a February report pew research center It turns out that of the employees who have the option of returning to the office, 61% are choosing to stay away.

But not everyone is on board. On Thursday, Citadel founder and CEO Ken Griffin said he should bring his employees back to the office because he thinks innovation and creativity suffer in a remote workforce, newsweek Report.

RELATED: The Pros and Cons of Remote Work: Will Your Employees Be Friendly?

Griffin shared his point of view at a conference organized by Bloomberg Intelligence, in response to a question on how COVID has changed the way hedge funds work. The billionaire lamented the “great loss” of connectivity as a result of the Zoom meetings and noted that all Citadel employees have returned to office, with the exception of a few jurisdictions in Asia.

“And I think this collaboration within our four walls has been an incredibly important part of our success story over the past two and a half years,” Griffin said. “This is something I wish all Corporate America would embrace because what you see, and more and more studies are emerging on this – innovation and creativity fall into a remote workforce.”

When asked whether the personally required return to work has resulted in resignations, Griffin acknowledged that there have been a “handful” of cases, but overall, employees have adapted surprisingly well. According to Griffin, when employees were informed they could work from home during the Omicron boom, “most people kept coming to work.”

Griffin went on to say that people are “creatures of habit” who “form new habits very quickly,” and ultimately, appreciate the value of separating work life from home life.

RELATED: 17 Things You Need to Know About Remote Working

Naturally, many disagree with Griffin’s point of view, with some saying that those who believe everyone should work out individually are the ones who need to stretch their creative muscles.

“The only thing holding back flexible work arrangements was a failure of the imagination,” said Joan Williams, director of the Center for Worklife Law at the University of California, Hastings. new York Times, “That failure was corrected in three weeks’ time in March 2020.”

Citadel leaving Chicago and going to Miami

In a note to employees on Thursday, Griffin said the Citadel would leave its Chicago headquarters and move to Miami. Chicago Tribune, The Citadel in Chicago has 1,000 employees; It will remain an office in the city, but many of its employees will relocate to Florida, where Griffin is from, and where the CEO recently moved with his wife and their children.

“Chicago will continue to be critical to the future of the Citadel, as many of our allies have deep ties to Illinois,” Griffin wrote in the note. “Over the past year, however, many of our Chicago teams have asked to relocate to our other offices in Miami, New York and around the world.”

What is Griffin’s net worth?

Griffin is an American hedge fund manager, entrepreneur and investor who is the founder, CEO, co-chief investment officer and 80% owner of Citadel LLC, a multinational hedge fund founded in 1990; He has an estimated net worth $29.6 billion,

according to Chicago Tribune, he is the wealthiest man in Illinois and “has long been a civic force in Chicago.” He has donated more than $1 billion to organizations such as the Art Institute, the Museum of Modern Art and the Museum of Science and Industry. But Griffin has also been an outspoken critic of the city in recent years, citing rising crime and violence as one of the many factors that played a role in Citadel’s move to Miami.