Entries tagged "Citadel"
E*Trade is in dire straights due to its debt load, and experts say selling its brokerage could be a viable solution.
The sight of a pink slip is worse than coal in your stocking on Christmas morning, but unfortunately that's what many bankers and private equity folks are receiving this holiday season. According to the Labor Department, jobless claims are up 554,000 -- more than 200,000 higher than a year ago. Here is the latest roundup of layoff announcements and rumors at financial services firms....
Bank layoffs are not only hurting Wall Street, but also New York state as a whole. The financial crisis could lead to 225,000 layoffs in New York City, and that could cost the state and city $6.5 billion in tax revenue over the next two years, New York state Comptroller Thomas DiNapoli said to The Associated Press. Compounding the problem for the state, employers expect to slow their hiring over the next three months through March, according to a survey by Manpower. Here are some of the latest financial layoff rumors and reports both in New York and elsewhere....
Citadel Investment Group LLC made two senior hires from Merrill Lynch & Co. to lead its capital development efforts in Europe, the Middle East and Northern Africa. Tobias Gehrke and Anita Nassar will join Citadel as co-heads of international distribution and marketing. At Merrill, they were co-heads of government institutional sales....
Bank of Nova Scotia will double the size of its online brokerage business by buying the Canadian operations of E*Trade Financial Group Inc., which needs cash after being ravaged by the U.S. credit crisis. ...
