Wednesday, 22 October 2014
Last updated 46 sec ago
Mar 22 2013 | 11:17am ET
Citadel Investment Group founder Kenneth Griffin will leave E*Trade Financial's board in May, two months after selling the hedge fund's stake in the retail brokerage.
Griffin will not stand for reelection to the board and will leave it when his term expires on May 9, E*Trade said in a regulatory filing today.
Citadel sold its 9.6% stake in E*Trade last week. The hedge fund had twice bailed out the troubled company, first investing $2.6 billion in 2007. Griffin joined E*Trade's board in 2009 and pushed for the company to sell itself, to no avail.
E*Trade shares had rallied 32% at the time of Citadel's announced plans to quit the company; since then, they have fallen 10%. All told, Citadel is thought to have earned $800 million on its investment in E*Trade.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...