Tuesday, 30 September 2014
Last updated 37 min 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.
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...