Saturday, 27 December 2014
Last updated 2 days ago
Sep 24 2009 | 2:44am ET
Hedge fund giant Citadel Investment Group’s bid to transform itself into a financial services giant will begin in earnest next month with the opening of a fixed-income sales and trading business.
The new unit, part of the Chicago-based firm’s investment banking group, Citadel Securities, has already begun to advise clients, Bloomberg News reports. When the new operation—which is based in New York—gets going in a few weeks, it will originate and trade loans and bonds, especially of the leveraged and high-yield variety, as well as derivatives based on fixed-income products. Citadel Securities will also make markets and offer in-house loan settlement through Citadel’s hedge fund administration business, Omnium.
“Clients are now, more than ever, looking for additional partners who can provide advice, ideas and liquidity,” Peter Santoro, head of institutional markets for the new group, told Bloomberg. “We are building Citadel Securities to be that partner.”
In addition to Santoro, the new group boasts a whole fleet of Merrill Lynch veterans. Carl Mayer will serve as head of leveraged finance, Brian Maier and head of industry groups, Todd Kaplan as head of investment banking and Kevin Cook as managing director for credit sales.
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.