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Hedge fund Citadel swaps Chicago for Miami following rising crime warnings

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Ken Griffin is relocating his $51 billion hedge fund Citadel from Chicago to Miami having voice concerns over rising crime rates in the Windy City, according to a report by The Financial Times.

The FT cites an email sent to employees by the firm’s billionaire founder which describes Miami as a “growing metropolis that embodies the American dream”. Griffin recently moved there with his family and now his hedge fund and market-making firm Citadel Securities are to follow suit in what will be a multi-year transition.

The FT says that while Griffin’s email did not explicitly blame crime as the reason for the switch, he has been threatening to leave Chicago for some time, saying back in October that “Chicago is like Afghanistan, on a good day”.

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