Monday, 24 November 2014
Last updated 3 hours ago
Dec 20 2007 | 12:40pm ET
Contradicting a tabloid report from earlier today, Citadel Investment Group is not actively considering the acquisition of Bank of America’s prime brokerage unit.
A source close to the $15 billion Chicago hedge fund told Reuters that “there have been no conversations about it and Citadel has not looked at the books.” According to a report in today’s New York Post, BofA wants to sell both the prime brokerage and its public financing unit, Citadel was in talks with the bank and had inspected the unit’s books.
A prime brokerage sale would seem to be part of BofA CEO Kenneth Lewis’ plan to scale back the firm’s investment banking operations. The unit has been hit with a string of recent high-profile departures, including that of former head Christopher Pesce.
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...