Friday, 19 September 2014
Last updated 9 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.