Adam Cooper, Senior Managing Director and General Counsel of Citadel Investment Group, confirmed his definite retirement in February 2017, ending his 18-year tenure with one of the biggest players in the hedge fund industry.
Mr. Cooper, who joined Citadel in 1998, has served in several roles with Kenneth Griffin, the founder and Chief Executive Officer of Citadel.
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Citadel runs the biggest hedge fund in Chicago, with about $26 billion under management. Over the past couple of decades it has spawned a plethora of other Chicago hedge fund ventures. Citadel posted double-digit returns last year while most other hedge funds posted their lowest annual return on record since 2011.
Citadel has promoted Shawn Fagan, current Senior Deputy General Counsel, to replace Adam, effective immediately. It is also planning to hire a general counsel for Citadel Securities in early 2017, a spokesman for the firm said.
Kenneth Griffin commented: “Adam has made many valuable contributions in helping build Citadel into one of the world’s leading financial institutions. I am grateful to Adam for his leadership on so many fronts and wish him the best over the years to come.”