The former Federal Reserve board president is joining Citadel, among Wall Street’s biggest hedge funds, as an agent, this new York circumstances reports. Citadel, created by the billionaire Kenneth Griffin, boasts $25 billion of investment capital today–most from it highly sensitive to the looming boost in the Fed’s rates of interest.
Bernanke stepped down from Fed this past year and informed the days he has because been “looking for a way to use my abilities and understanding.”
As Citadel is a secured item manager, in place of a lender, it is not regulated by the Fed, therefore there ought to be no dispute interesting, he stated.
All the same, Bernanke could be the newest individual parley their experience of large office in the public industry into an option place in high finance, and therefore after just a somewhat brief period. His former colleague, Jeremy Stein, likewise joined the (somewhat smaller) hedge investment BlueMountain Capital control not as much as a-year after going down from Fed’s board.
The sensation is scarcely restricted to main bankers, of course: Treasury Secretary Timothy Geithner, White House main of staff William M. Daley and also CIA director David H. Petraeus have got all discovered the appeal regarding the investment company irresistible.