Tuesday, 26 May 2015
Last updated 3 days ago
Aug 25 2011 | 12:57am ET
Citadel Investment Group will lay off the remaining sales and trading personnel at its investment-banking unit today.
About two dozen employees will be let go from Citadel Securities, Bloomberg News reports. What’s left of the unit will now focus on electronic trading.
The layoffs follow Citadel’s decision to pare back its ambitious plans to become a full-service investment bank. The firm two weeks ago slashed its equity research operations and then agreed to transfer most of its investment bankers, including the unit’s head, Brian Maier, to Wells Fargo.
Citadel Securities employed about 100 people in sales and trading and about 30 in investment banking. Some staffers were laid off two weeks ago and about 25 sales and trading employees were transferred to other businesses within the unit.
After the layoffs, Citadel Securities will continue to employ about 200, according to Bloomberg.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…