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From The Rumor Bag: Citadel Head Of Investment Banking Todd Kaplan Quits
From the rumor bag: Todd Kaplan, who joined Citadel less than a year ago from Merrill to build the firm's investment banking business, has quit. Wonder if that means the hedge fund's attempt to become a direct competitor to Goldman in the underwriting/advisory business has been scrapped? Perhaps an analysis of how many deals Citadel underwrote in the past year should be sufficient to answer this question.
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Citadel should stick to what it knows best and leave the investment banking biz to the wimps on WS. Good move Ken.
Not a great loss. He is a stuffed suit.
With Rohit d'Souza gone, this was expected. Kaplan is close with Greg Fleming, who just took over Asset Management at Morgan Stanley. Though historically Kaplan has wanted to stay in Chicago, the right job might emerge for him.
Still waiting for an analysis for how much Citadel is involved in the option market. And if heavily,then how is there risk is hedged,considering the last 8 or so months. And knowing that in so many of them,how sometines the week of opex,markets would be ramped up to squeeze the hill out of those option traders who most probably were short the market. Not this time though. The couple of billion in notional(mentioned by ZH)on SPX=1150 were allowed to expire worthless(haven't seen the special opening for the index today,but most probably bellow 1150). Now my question is this:If Citadel is realy heavily involved in the optios market(which is purely speculation from my side),is it now considered TBTF?or is the damage with GS is beyond repair?. I would realy love to see ZH shed some light on the Central time zone for a change(lol)..
He looks like Sheldon from "Big Bang Theory"!
Only more meaner and smug looking.
can't they just make a facebook app to replace iBankers at this point? They are just social conduits and they are no longer needed.
leave the tough stuff to the quants and programmers.
the nerds have inherited finance.
Gotta think that building an i-bank in '09 after falling 55% in '08 wasn't the best strategy. My question is how many investors have hung around since Griffin lifted the gates.
Standard iBank move.
Wall Street for years until that implodes, then find someone pushy & willing to pay up for your services (boutique, hedge fund, whatever) to keep you going in hard times, then return to the Street as soon as things look to stabilise.
Get paid more each time, get a guarantee each time, and get each package bought out by the next guy, each time.
This guy will float to the surface somewhere else soon.
looks like a douche who had his milk money taken from him on a regular basis.