Friday, 27 November 2015
Last updated 1 day ago
Mar 4 2010 | 6:48am ET
Citadel Investment Group has slashed its Asian merchant banking team, following a sharp reduction in the amount of money it managed.
The Chicago-based alternative investments giant laid off four members of the 10-person Hong Kong special situations team, Bloomberg News reports. Among those cut loose is at least one of the six people who joined Citadel from Merrill Lynch with David Noh, head of the merchant banking group, in 2008.
Noh’s team currently manages just one-third the assets it did when Noh took the helm of the group. Last year, Citadel directed the team to sell off some assets without making any new investments. The moves were part of Citadel’s effort to cut its portfolio of illiquid assets.
Most of the investments managed by Noh were made by his predecessors.
Six members of Noh’s team remain. All told, Citadel continues to employ about 40 people in Hong Kong, down from 70 in the middle of 2008.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…