Early Life and Education
Peng Zhao was born in Beijing, China, where he demonstrated exceptional academic abilities from a young age. He attended the Talented Children Training Program at Beijing No. 8 High School. His pursuit of knowledge led him to Peking University, where he earned a bachelor's degree in applied mathematics. Zhao then moved to the United States and obtained a PhD in statistics from the University of California, Berkeley. This strong academic foundation in mathematics and statistics would prove crucial in his future career.
Rise to Success
Zhao's career began with a summer associate position at Lehman Brothers. He later worked as a quantitative researcher at Evnine & Associates. In 2006, he joined Citadel Securities as a quantitative researcher. His skill and contributions rapidly propelled him through the ranks. He became the global head of market making and was promoted to CEO in 2017 at the age of 34, making him one of the youngest CEOs in the financial industry. Under Zhao's leadership, Citadel Securities has grown significantly.
Key Business Strategies
Under Peng Zhao's leadership, Citadel Securities has experienced remarkable growth and become a major player in the financial markets. The company is known for its innovative trading strategies and cutting-edge technology. The company is now a key player in financial markets, and handles approximately one in every five U.S. stock trades. Zhao's success is attributed to his strategic vision and focus on technological innovation.
Philanthropy
Zhao is committed to philanthropy. He and his wife, Cherry Chen, support various organizations and causes, including the National Committee on U.S.-China Relations and The Asian American Foundation (TAAF). Zhao and his wife donated surgical masks to Chicago first responders during the COVID-19 pandemic. They have also funded the Victor Wong Fellowship to support aspiring comedians from the Asian American and Pacific Islander (AAPI) community.