Wednesday, 1 October 2014
Last updated 1 hour 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...