Ben S. Bernanke, former chairman of the Federal Reserve System and the Federal Open Market Committee, was appointed senior adviser by hedge fund manager Citadel.
Mr. Bernanke will not become a Citadel employee but will advise Citadel's investment teams about monetary policy, financial markets and the global economy, said Katie Spring, a Citadel spokeswoman, in an interview. He also will meet with Citadel investors, she said.
Mr. Bernanke will continue to serve as a distinguished scholar in residence with the Brookings Institution's Economic Studies Program and its Hutchins Center on Fiscal and Monetary Policy.
Mr. Bernanke “has extraordinary knowledge of the global economy and his insights on monetary policy and the capital markets will be extremely valuable to our team and to our investors,” said Kenneth C. Griffin, Citadel's founder and CEO, in a news release.
Citadel managed about $26 billion in single and multistrategy hedge funds as of March 31.