Former Federal Reserve Chairman Ben Bernanke, a key architect of
the federal government's rescue of the financial system, is joining
Chicago hedge fund Citadel LLC as a senior adviser.
Mr. Bernanke will consult on developments in monetary policy,
financial markets and the global economy, Citadel said in a
release. "His insights on monetary policy and the capital markets
will be extremely valuable to our team and to our investors," said
Citadel founder and chief executive Ken Griffin in the
statement.
The former Fed chairman, who left in 2014, is the latest
high-profile public servant to accept assignments with hedge funds
or private-equity firms following their government service.
Former U.S. Treasury Secretary Timothy Geithner, another key
member of the team that wrestled with the financial crisis in 2008
and 2009, joined private-equity firm Warburg Pincus LLC as a
president and managing director in 2013. Carlyle Group LP has
enlisted many officials from the Bush and Clinton administrations
in advisory roles.
Mr. Bernanke will continue to work as a fellow for the Brookings
Institution, and a book he wrote about the financial crisis will be
published this fall.
Write to Rob Copeland at rob.copeland@wsj.com
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