Citadel Is Growing at a Record Pace, CEO Zhao Says

Citadel Securities is currently operating at a record-breaking pace, with the first quarter of 2024 reaching historical highs following a solid performance in 2023. CEO Peng Zhao attributes this growth to a combination of thriving core businesses and the successful scaling of newer ventures. A significant driver of this momentum is the firm's strategic expansion into the credit market, specifically through the systematic and algorithmic trading of investment-grade bonds on electronic venues. Since launching this initiative in late 2023, the firm has introduced voice trading and is preparing to launch portfolio trading to meet high demand from the top 30 market participants. Beyond credit, the firm is leveraging its established reputation as a leading U.S. Treasury liquidity provider to expand into European rates and high-yield bonds, shifting from purely algorithmic exchange interactions to direct institutional distribution.