CEO Peng Zhao Shares Career Advice with Students

Peng Zhao—CEO of Citadel Securities and UC Berkeley alumnus—returned to his alma mater for an interactive Q&A moderated by Citadel Securities Chief People Officer Alex DiLeonardo. The conversation let Berkeley students hear directly from Peng about his career path, lessons learned and the firm’s culture. The discussion explored leadership, opportunity and innovation’s integral role in driving long-term success.

On Joining Citadel Securities

Peng began by reflecting on his decision to launch his career at Citadel Securities as a quantitative researcher. He wanted to learn quickly, contribute meaningfully and surround himself with exceptional talent. “Everyone I met was so experienced and had such smart things to say. I felt like I could learn a lot,” he recalled. “So I had that support system to learn from and maximize my probability of success.”

A Culture of Meritocracy

Peng credited Citadel Securities’ meritocratic culture with enabling his rise from researcher to CEO. He noted that someone born and raised in China, who came to Berkeley to study statistics, could reach the top of one of Wall Street’s leading financial services firms because of the platform the firm provides. “If you come in, find a way to contribute and deliver value. Sky’s the limit,” he said.

Your Greatest Teacher

While books and classes matter, Peng emphasized that colleagues are the best teachers. “The market is this dynamic game played by some of the smartest people in the world. The only way to keep winning is by outlearning yourself from before,” he explained. Working alongside talented peers, he added, pushed him to improve every day.

A Culture of Opportunity

Peng also emphasized the firm’s unique risk-taking DNA, which encourages leadership at every level. “Citadel Securities gives people the opportunity to create leadership opportunities for themselves and takes risks in them by giving them the ring and having them run with it,” he said. Leadership, he added, can take many forms—owning projects, setting direction, recruiting or inspiring colleagues. The firm’s goal is for every team member to look back on each year with pride in what they accomplished and excitement for the challenges ahead.

A Business Built on Innovation

When asked what Citadel Securities seeks in new hires, Peng highlighted raw intellect, technical skills and an aptitude for problem-solving. Just as important, he added, is passion. “We define it as someone who’s decided on their own accord to master something. That drive will carry a person really far,” he said.

At the core of Citadel Securities’ success, Peng explained, is innovation. He compared the firm’s growth to leading technology companies, where progress depends on developing new ideas rather than touting past achievements. “It’s not about the tricks you already have. It’s about how good you are at developing new ones,” he said. Talent, he emphasized, is central—creative minds working together to generate the next breakthrough.

Looking Ahead

Peng closed with career advice and reflected upon his own professional journey, which spans two decades. Among the most important lessons, he said, is to believe you can achieve harder goals. “If you don’t start by setting unreasonable goals and having unreasonable expectations, you will never accomplish them.” He reminded students that the firm’s future will be determined by the next generation of leaders: “The revenue we make today is because of the cumulative innovation of the past. The revenue we’ll make in 10 years will be driven by the leaders of tomorrow—and that could be you.”