Thursday, 18 September 2014
Last updated 16 hours ago
Dec 9 2011 | 11:43am ET
A group of Citigroup hybrid traders are in talks to join a hedge fund after the bank imposed cutbacks on the team linked to a $383 million lawsuit filed by a Saudi Arabian family.
Citi's former head of hybrid trading, Samir Mathur, is leading a six-strong team leaving the bank. Mathur is currently in talks with a hedge fund about bringing the team on, Bloomberg News reports.
The cuts in hybrid trading are part of Citi's plan to slash 4,500 jobs globally, including 900 in trading and investment banking.
Mathur's team focuses on hybrid derivatives. One such deal, on behalf of Saudi investor Ghazi Abbar, turned sour, losing almost all of Abbar's family fortune and leading to an arbitration claim against Citi.
In addition to Mathur, the traders leaving Citi are Sean Corrigan, Vivek Kapoor, Eric Kim, Allison Niiya and Yontcho Valtchev.
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.