Citadel Securities is expanding its existing footprint in Shanghai and Sydney, the statement added, without mentioning how many new jobs will be created as a result of these steps.
The expansions in Hong Kong and Shanghai comes in the midst of escalating U.S.-China tensions over issues like trade tariffs, sanctions, and a barrage of Washington’s actions against China.
Citadel, which managed US$34 billion ($46.6 billion) of assets globally as of early July, has operated in the Asia-Pacific region since 2005, while Citadel Securities has operated in the region since 2009.
The news was reported earlier by Bloomberg, which cited data showing Citadel Securities accounted for about 20% of over $15.5 billion U.S. shares traded in March, when the coronavirus pandemic and a Russia-Saudi Arabia oil price war triggered a market sell off.
