Saturday, 22 November 2014
Last updated 15 hours ago
Nov 7 2007 | 8:23am ET
Citigroup has turned to a man who once helped it avert disaster at Long Term Capital Management to now aid in extricating itself from the subprime mess.
Richard Stuckey, who heads Citi’s fixed-income, currencies and commodities division, was named head of the firm’s new Sub-Prime Portfolio Group. Citi’s $55 billion in subprime exposure is expected to cost it as much as $14 billion in write-downs, and has already cost former CEO Charles Prince his job.
A decade ago, Stuckey was Citigroup’s representative to the group of 14 financial institutions working on the bailout of LTCM, which lost $4.6 billion in four months in 1998—at the time, the worst-ever hedge fund collapse.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...