Wednesday, 22 October 2014
Last updated 11 hours ago
Jan 19 2010 | 1:04pm ET
The transition from hedge fund giant to financial services giant has not been smooth for Citadel Investment Group. The Chicago-based firm continues to lose top executives from its nascent investment banking unit even as it aggressively recruits fresh blood for the same business.
The latest casualty at Citadel Securities is the head of said investment banking business, Todd Kaplan, who resigned from the firm last week after less than nine months on the job. Kaplan’s exit follows those of former Citadel Securities president Rohit D’Souza in October and former institutional trading head Peter Santoro last month.
As he did when D’Souza resigned, Citadel Europe chief Patrik Edsparr, will step into Kaplan’s shoes. Citadel’s investment banking leaders will now report to Edsparr, who is also global CEO of Citadel Securities.
It is unclear why Kaplan, a former head of global leveraged finance at Merrill Lynch, chose to leave Citadel.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...