On Monday, in a statement, Citadel, a Chicago-based hedge fund and Citadel Securities, which provides trading services to asset managers, banks, broker-dealers and hedge funds, said, it will open a new office in Singapore.
Both businesses, which have offices across the Asia-Pacific region, North America and Europe, are continuing to expand their footprint. They are also set to grow in Hong Kong.
“Citadel Securities is expanding its existing footprint in Shanghai and Sydney,” said Citadel without mentioning how many jobs it will create as a result of its expansion.
Its expansions in Hong Kong and Shanghai comes at a time when there is growing threat of escalation between Washington and Beijing over a whole range of issues.
As of July Citadel has $34 billion worth of assets under its management. It has operated in the Asia-Pacific region since 2005; Citadel Securities has operated in the Asia Pacific region since 2009.