Sunday, 22nd November 2009

 
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30 October 2009 - Press Briefing

Citadel revokes 10-month ban on redemptions amid improved results

Investors in Citadel Investment Group can now take out their money after the $14bn (€9.4bn) US hedge fund decided to completely revoke its 10-month ban on redemptions, according to a report in The Wall Street Journal.

In a letter to clients on Thursday, chief executive Kenneth Griffin wrote that the firm’s two flagship vehicles - Wellington LLC and Kensington Global Strategies - are up nearly 57% this year, after having plunged over 50% last year.

Tags: Hedge Funds

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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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