Citadel Securities, the market-making firm owned by Ken Griffin, founder of multi-strategy hedge fund major Citadel, has appointed Tony Tang, the former head of BlackRock's China business, to head up its operations in China, according to a report by Reuters.

Citadel Securities, the market-making firm owned by Ken Griffin, founder of multi-strategy hedge fund major Citadel, has appointed Tony Tang, the former head of BlackRock's China business, to head up its operations in China, according to a report by Reuters.

Tang who is due to take up his new position in September and is a former Chinese securities regulatory official, departed BlackRock in September, having led the company's China business since 2019.

In February, Citadel Securities obtained a “qualified foreign institutional investor” or QFII qualification in China, allowing it to invest and trade in Chinese stocks and bonds from outside mainland China.