Saturday, 20 September 2014
Last updated 1 day ago
Oct 8 2010 | 12:08pm ET
Citadel Investment Group is denying rumors that it plans to shutter or seriously shrink its investment-banking unit.
The Chicago-based hedge fund giant was forced to respond after the Business Insider blog reported that there might be major layoffs "connected to a wider dismantling" of Citadel Securities. The blog later backtracked on its report, which included the exits of several top Citadel Securities executives.
"There is no plan for mass layoffs," a person familiar with the situation told Dow Jones. "Citadel is not shutting down Citadel Securities or its fixed-income operations."
In fact, the latter has enjoyed positive trading revenue this year, contrary to reports that it had taken a bath on some high-yield loans.
Dow Jones did note that some staffing changes are possible after Citadel Securities' annual business review in the fourth quarter. And certainly, the upper echelons of the firm's management team has had something of a revolving door, losing two heads within eight months on top of several other high-level departures.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.