Thursday, 18 December 2014
Last updated 8 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.