Monday, 25 May 2015
Last updated 3 days 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…