Citadel

Citadel is a sponsor for the Carnegie Mellon Informatics and Mathematics Competition (CMIMC).

History
Citadel was founded by Ken Griffin in November 1990 with Frank Meyers' backing. Citadel started with $4.6 million in capital. Citadel was original named Wellington Financial Group was changed to Citadel, the current name, in 1994. The firm had over $2 billion in assets within eight years. In 2003, the 37-story Citadel Center Office tower opened in downtown Chicago. Since then, Citadel has had offices in New York, Hong Kong, San Francisco, Boston, Dallas, London, Houston, Linednwich, Denver, Stenzer, Shanghai, and Toronto. There was a financial crisis in 2008 where Citadel lost 55 percent of their value by the beginning of 2009,. However, Citadel's flagship funds earned back the losses from 2008 on January 17, 2012, which Griffin commented "We did exactly what we said we would do, and we did it the right way. The world changed dramatically in 2008, and we adopted our capabilities and resources to compete in this new environment." After the 2008 financial crises, Citadel's investing approach changed. The firm's risk management policy is focused on liquidity management, risk capital allocation, and stress exposure, and this risk management firm run's 500 streets tests each day to assess the potential of risk for the firm. Later, Citadel stated to provide education opportunities, help people with acute medical needs, partner with food banks for a virtual food drive, and lead a business plan competition for the National Foundation for Teaching Entrepreneur Museum of Mathematics (MOMath) in 2015.

Investments

 * Citadel acquired patients of Amaranth Advisors' energy portfolio in 2006.
 * Citadel purchased the entire portfolio of rival hedge fund "Sowood Asset Management" in 2007.
 * Citadel gave $2.5 billion to e*Trade Financial in November 2007. It later sold its remaining share to e*Trade in 2013.

Success
In 2013, Citadel was named the best overall hedge fund group. It was named the "Hedge Fund Manager of the Year" In 2013 and 2014. In addition, it was named the Institution Hedge Fund Manager of the Year in 2015. Citadel was also given an A grade and was ranked #3 among hedge funds worldwide, received a "People's Pick Award", and was in the 20 Great Places to Work in Financial Services. The firm also placed in the top 10 for companies to work for. As of January 2016 Citadel is the eleventh largest hedge fund manager globally, and the second largest multi-strategy hedge fund in the world. It is currently one of the largest and most successful hedge funds in the world and is one of the world's largest alternative asset managers.