Former Federal Reserve Chairman Ben S. Bernanke will soon be serving as an outside senior advisor for hedge fund Citadel, officials say.
In this position Bernanke will consult with Citadel teams on developments in monetary policy, financial markets and the global economy. Citadel has total assets under management (AUM) of about $25 billion.
“We are honored to welcome Dr. Bernanke to Citadel,” says Ken Griffin, founder and CEO of Citadel, in a statement. “He has extraordinary knowledge of the global economy and his insights on monetary policy and the capital markets will be extremely valuable to our team and to our investors.”
Bernanke served as Chairman of the Fed from 2006 to 2014, guiding the Fed’s pivotal efforts to stave off a total collapse of the financial system during the financial crisis. He is the latest in a long line of former senior regulators to take consulting jobs on Wall Street after working for Washington.
Former Fed Chairman Alan Greenspan currently consults for several banks and hedge funds, and several other former high-level Fed officials have made similar moves. Bernanke’s commitment to Citadel is not exclusive, allowing him to consult for other firms down the line should he choose to.
“Citadel is a dynamic firm with tremendously talented people and a rigorous approach to research and investing,” Bernanke says, in a statement. “I look forward to adding my perspective on a range of issues affecting our global economy.”
Bernanke will continue to serve at the Brookings Institution, a think tank where he is a distinguished fellow in resident with the Brookings Economic Studies Program and its Hutching Center on Fiscal and Monetary Policy.
His new book, “The Courage to Act,” is due out this fall.
Need a Reprint?
Leave a Reply