Sunday, 22nd November 2009

 

28 August 2009 - Press Briefing

Citadel subsidiary clinches Lehman administration mandate

Citadel Solutions, a subsidiary of Citadel Investment Group, has been approved by a Manhattan court as the asset administrator for the US operations of Lehman Brothers, according to a report in the Financial Times.

The mandate, which will almost triple the size of the assets Citadel Solutions administers, will require the firm to process and administer between $40bn (€28bn) and $50bn of complex assets at Lehman.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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