Monday, 20 October 2014
Last updated 7 hours ago
May 4 2010 | 1:32pm ET
The revolving door at Citadel Investment Group’s investment-banking unit continues to spin with the exit of the unit’s global CEO.
Patrick Edsparr was “let go” from the firm last week, The Wall Street Journal reports. In an increasingly familiar tale told about now former executives at Citadel’s banking unit, Edsparr and Citadel chief Kenneth Griffin reportedly didn’t “see eye to eye,” so Griffin asked him to leave.
Edsparr, who joined Citadel in 2008 from JPMorgan Chase as CEO of Citadel Europe and head of its global fixed-income business, has told associates that he was leaving the firm in recent days. He took over as global CEO of Citadel Securities in October after the group’s president, Rohit D’Souza, resigned. Disagreements between D’Souza and Griffin were blamed for his exit.
In recent months, as executive after executive has left Citadel, Edsparr has seen his responsibilities grow. In January, he took over from investment banking chief Todd Kaplan, who resigned after less than nine months on the job.
Citadel has also bid farewell to institutional trading head Peter Santoro and convertible bond chief Brad Begle in recent months.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. 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 ...