Tuesday, 22 July 2014
Last updated 19 hours ago
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…