Citadel, the $51 billion hedge fund founded by Ken Griffin, is moving its global headquarters to Miami from Chicago, becoming the latest company to leave the Windy City in the wake of the pandemic.

The decision to relocate the headquarters for Citadel, the hedge fund, and Citadel Securities, the electronic trading firm, comes as many employees asked to leave Chicago and move to Miami, New York and other offices around the world.

“I am excited to have recently moved to Miami with my family and look forward to rapidly expanding Citadel in a city so rich in diversity and abounding with energy,” Griffin wrote to employees announcing the planned move in a note seen by Reuters. “Miami is a vibrant, growing metropolis that embodies the American Dream.”

Caterpillar said earlier this month it was moving from its longtime Illinois base to Texas.

In May, Boeing said it was moving its headquarters to Arlington, Va., in order to be closer to top federal officials.

Large tech-focused venture capital and private-equity firms like SoftBank and Thoma Bravo have also moved to Miami.

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