Wednesday, 27 August 2014
Last updated 4 hours 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.
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…