Citadel Moving Headquarters from Chicago to Miami

Ken Griffin is relocating his hedge-fund firm Citadel from Chicago to Miami according to a story in The Wall Street Journal. In a letter to employees Mr. Griffin said he had personally moved to Florida and that his market-making business, Citadel Securities, would also transfer. The move is expected to be a multiyear process and will involve a developer and architecture firms to design a new office tower. There are currently about 1,000 employees in Chicago and many are expected to remain.