New funding to accelerate opportunity in AAPI communities across the United States
CHICAGO, May 21, 2021 – Citadel and Citadel Securities today announced that their team members have committed more than $40 million to support The Asian American Foundation (TAAF).
Launched earlier this month, TAAF is committed to accelerating opportunity and prosperity for the 23 million Asian Americans and Pacific Islanders who strive to build a better future in the United States. Citadel Securities CEO Peng Zhao has joined other business and social impact leaders in launching TAAF as a convener, incubator and funding source for the AAPI community.
Funding provided by the Citadel and Citadel Securities teams will support TAAF’s work to promote appreciation of AAPI history and culture and broaden understanding of AAPI contributions in the United States. It will also facilitate data-driven research to create opportunity and ensure safety for those within AAPI communities.
“The American dream is based on the belief that anyone from anyplace has a chance to compete and succeed” said Peng Zhao, Citadel Securities CEO and TAAF Founding Board Member. “By bringing investments and resources to AAPI communities, along with an ambitious and data-driven approach, we are working to make that a reality by accelerating opportunity and prosperity at this critical moment and well beyond.”
“We have seen what is possible when talent and ambition meet opportunity,” said Sonal Shah, President of TAAF. “Support from Citadel and the broader business community is critical to ensuring members of the AAPI community can thrive.”
This commitment from the Citadel and Citadel Securities teams builds on the firms’ longstanding support of organizations and initiatives that expand access to resources and opportunities. Over the last year, these initiatives have included Chicago Connected, Miami Connected, the Last Mile Education Fund, MarketWorks and Saga Education.