Citi Hedge Fund Spinoff A Management Give-Away

Dec 21 2012 | 11:08am ET

Citigroup will literally give away most of its hedge fund unit, as it seeks to come into compliance with the Volcker rule.

The bank is giving a 75% stake in Citi Capital Advisors to the division's employees under a plan negotiated by former CEO Vikram Pandit in his final days at Citi. Those employees will not have to pay for it.


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