Citadel Out Of Running For E*Trade Unit

Oct 7 2013 | 9:45am ET

Citadel Investment Group will not buy the market-making business of E*Trade Financial, the retail brokerage twice bailed out by the hedge fund.

Chicago-based Citadel, which already has its own market-making unit, had been among those tipped to buy G1 Execution Services since E*Trade said in July it would exit the business. G1X is currently under Financial Industry Regulatory Authority investigation over its order-routing practices.

Citadel first invested in E*Trade in 2007 and was among the troubled company's largest shareholders until March, when it exited the investment. Citadel founder Kenneth Griffin, who joined the E*Trade board in 2009, left it in May.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...