Citadel Seeks Buyer For I-Bank, Shuts Research Unit

Aug 11 2011 | 12:52pm ET

Citadel Investment Group hopes to sell its struggling three-year-old investment banking unit, a business that has perhaps become more notable over its short life for its revolving-door management team than the customer service it promised to provide.

The $11 billion hedge fund is looking for a buyer for Citadel Securities' advisory business. It has also decided to close its equity research operation and lay off its staff.


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Publisher's Note

    Hedge Funds Care Gala Raises $2 Million For Charity

    Mar 10 2014 | 11:33am ET

    A huge thank you to all of the people who helped make last Thursday’s HFC NY Open Your Heart to the Children Benefit such a success. The charity gala raised nearly $2 million to prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…