The GameStop affair, in an odd twist, actually helped boost Citadel's clout with potential recruits, its CEO and founder Ken Griffin told Insider.
for its flagship fund, Wellington. Citadel Securities put up $7.5 billion in revenue.
Griffin strove to build something that would have influence long after him. When Pablo Salame, a senior Goldman Sachs trader, met Griffin sometime in the mid-2000s and told him he was thinking of starting a hedge fund with his name on it, Griffin advised against it."He said, 'You don't want to hang your shingle with your name on it,'" Salame recalled."You want to build something that lasts. You want to be able to create an institution that survives your departure.
Current and former employees said Griffin encouraged them to strip human emotion out of the investment- and company-building process. But Griffin's very human intensity would often boil over. Sometimes he shamed colleagues, called them names, or shouted at them during meetings, said several former colleagues.
"Ken goes down, down, down until he gets to the really core, most important parts," said Salame, adding that some Goldman colleagues thought he was too detail-oriented, but it wasn't enough for Griffin."Now, as a matter of course, when I'm looking at something, I'll stop and think, 'OK. What questions haven't I asked myself?' The moment I started doing that, it made my interactions with Ken easier.
Griffin said he has"high standards.""And I'm not shy to tell you when you're exceeding them, crushing them, or falling short." When Griffin's parents gave Ken a choice of attending private high school or going to the local public school and getting a computer, he took the computer. He worked for IBM during the summer, and became president of the high-school math club. One year, in a computer competition, Griffin's team finished third in the state finals. Even then, Griffin was competitive."Ken to this day will swear they should have won the championship," said Ernie McMullen, a childhood friend.
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