Former Federal Reserve chairman Ben Bernanke, a key architect of the federal government’s rescue of the financial system, is joining Chicago hedge fund Citadel as a senior adviser.

Bernanke will consult on developments in monetary policy, financial markets and the global economy, Citadel said in a release. "His insights on monetary policy and the capital markets will be extremely valuable to our team and to our investors," said Citadel founder and chief executive Ken Griffin in the statement.