Managing OTC Derivatives Systemic Risk – The Pivotal Role of Central Clearing

Myron Scholes Global Markets Forum

April 5, 2011, 5:30–7 p.m., Gleacher Center

Ken Griffin, founder of Citadel LLC, discussed the risks to financial system stability that are created by trading arrangements used for most derivative securities. He explained why a reform to these arrangements could be beneficial to most parties buying the derivatives and to overall financial stability.

This event was part of the Initiative on Global Markets (IGM) and is generously sponsored by Myron Scholes.

The IGM also receives financial support from our corporate partners: AQR Capital Management and Northern Trust.

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Speaker Profiles

Ken Griffin is the founder and chief executive officer of Citadel, one of the world’s largest alternative asset managers and securities dealers.

Citadel Asset Management manages a number of hedge funds engaged in alternative investment strategies. Citadel Securities serves as a financial advisor to corporations, and is one of the largest liquidity providers in equity and fixed income securities.

Established in 1990, Citadel has more than 1,200 team members in the world’s major financial centers, including Chicago, New York, London, Hong Kong, San Francisco, and Boston. Griffin is an active supporter of causes that drive community improvement. He is vice chairman of the Chicago Public Education Fund and a member of the board of trustees for the Art Institute of Chicago and the Museum of Contemporary Art. He and his wife founded the Kenneth and Anne Griffin Foundation in 2009, which invests in high-impact education, health, and civic initiatives. Griffin is a member of the World Economic Forum and the Economic Club of Chicago.

Griffin received a bachelor’s degree from Harvard College.