Hedge fund giant Citadel has named Dr David Stark as its first chief medical officer, marking a rare move in the $5.7tn hedge fund industry as firms increasingly invest in employee wellness to boost performance, according to a report by Business Insider.

Stark, a Harvard-trained neurologist and former executive at Morgan Stanley and Mount Sinai, will join the firm in September. In the new role, he will overhaul Citadel and Citadel Securities’ healthcare and wellness strategy, including concierge services and personalised health plans, according to an internal memo.

The hire reflects founder Ken Griffin’s ongoing push to treat employees like elite athletes, with a focus on high performance, minimal disruption, and retention in a competitive talent market. While some hedge funds employ wellness professionals, Citadel is believed to be the first to create a CMO-level role dedicated to medical innovation and employee wellbeing.

The firm, which manages $66bn, is known for offering lavish employee perks and maintains a corporate culture more in line with Wall Street investment banks than traditional asset managers.