Griffin's Fingers Still Crossed For E*Trade Sale

Sep 22 2011 | 1:57am ET

When it comes to E*Trade Financial, Citadel Investment Group founder Kenneth Griffin is quite the optimist.

Griffin, whose hedge fund is E*Trade's largest shareholder, told a group of about 20 investors last month that he remains hopeful that Goldman Sachs' strategic review of the troubled online brokerage could still result in a sale of the company, The Wall Street Journal reports. E*Trade hired Goldman early last month to assuage Citadel, its two-time savior which had become a bitter critic of the company in recent months.

At the Aug. 24 meeting, Griffin said the strength of E*Trade's brand boded well for the firm, whose board and management he has accused of incompetence. He pointed in particular to E*Trade rival TD Ameritrade as a potential buyer.

It's not clear how confident Griffin remains: This month, TD has sought to tamp down on speculation it was interested in E*Trade. This week, TD parent Toronto-Dominion Bank said it was "risk-averse" in terms of buying U.S. assets.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note