• 01 May 2009 at 12:41 PM

Royal Bank Of Citadel Coming Together Nicely

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Picture 1292.pngAs mentioned yesterday, our favorite midwestern hedge fund has decided to try investment banking on for size. Former Merrill Lynch executive Todd Kaplan, who moved in with Ken in March, will run the unit, and a whole bunch of other employees have been given titles and business cards as well. Brian Maier will serve as head of industry groups and Carl Mayer will oversee leveraged finance. Sayeth Kaplan, “I look forward to building our investment banking operation as we provide innovative products and services to a broad group of clients in an increasingly complex environment.”

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Comments (25)

  1. 1
    Posted by guest | May 1, 2009 at 12:52 PM

    A hedge fund and investment bank combo. Isn’t that like putting dynamite and nitroglycerin in the trunk of a Yugo and driving in an offroad race?

  2. 2
    Posted by guest | May 1, 2009 at 12:54 PM

    My secretary will be tossing my salad today during lunch so I will be out of touch for a little while.
    Abe Frohman

  3. 3
    Posted by guest | May 1, 2009 at 12:58 PM

    Think they can keep the mongolians out?

  4. 4
    Posted by guest | May 1, 2009 at 1:03 PM

    Keep that baby complex. And we do need more complex, innovative products and services.

  5. 5
    Posted by guest | May 1, 2009 at 1:04 PM

    @ 1 — Fantastic!

  6. 6
    Posted by guest | May 1, 2009 at 1:05 PM

    @3 ftw…nice Chinese Wall reference. Wonder if they’ll have separate cubicles?

  7. 7
    Posted by Bulging Bracket | May 1, 2009 at 1:05 PM

    @1 – it’s pretty much the GS model, no? Excellent model if you’ve got really good drivers, and your alumni control the relevant state and federal governments…

  8. 8
    Posted by guest | May 1, 2009 at 1:06 PM

    Why is there a picture of 399 park?

  9. 9
    Posted by guest | May 1, 2009 at 1:06 PM

    Bess! How are you?

  10. 10
    Posted by guest | May 1, 2009 at 1:10 PM

    @1 Nice analogy. It’s only bad if you’re in the car…for a spectator it’s top notch entertainment.

  11. 11
    Posted by guest | May 1, 2009 at 1:15 PM

    Hi, I think this is going to be a fantastic business model.
    - Nick Leeson

  12. 12
    Posted by guest | May 1, 2009 at 1:30 PM

    And the pic changes. Sneaky sneaky.

  13. 13
    Posted by guest | May 1, 2009 at 1:35 PM

    what about s&t?

  14. 14
    Posted by Bulging Bracket | May 1, 2009 at 1:40 PM

    @1 also… dynamite isn’t all that dangerous to transport, it’s a mix of nitroglycerin and an attenuant (it’s relative safety is what made Nobel all that money). Nitro by itself is insanely dangerous and more powerful as an explosive weight for weight (the attenuant in dynamite doesn’t do anything productive). Three cheers for the redundant department of redundancies.

  15. 15
    Posted by guest | May 1, 2009 at 1:51 PM

    I found it, I found it!
    http://www.citadelsecurities.ca/investment_banking.html

  16. 16
    Posted by guest | May 1, 2009 at 1:51 PM

    @14 go away

  17. 17
    Posted by guest | May 1, 2009 at 1:53 PM

    Is today the day I should pound my secretary in her ass? Isn’t that what they do on May Day in Canada?

  18. 18
    Posted by guest | May 1, 2009 at 2:06 PM

    @1 and 7, well done!
    I know I’m updating my resume!

  19. 19
    Posted by guest | May 1, 2009 at 2:06 PM

    @14
    It’s simpler to say that it’s as safe as driving a Ford Pinto. Don’t need the explosives that way.

  20. 20
    Posted by guest | May 1, 2009 at 2:13 PM

    @13 That business has shown to be less profitable over the last year.

  21. 21
    Posted by guest | May 1, 2009 at 9:33 PM

    @17: Depends on the Provence.

  22. 22
    Posted by guest | May 1, 2009 at 9:34 PM

    @17: Depends on the Province.

  23. 23
    Posted by guest | May 1, 2009 at 9:34 PM

    @17: Depends on the Province.

  24. 24
    Posted by guest | May 2, 2009 at 3:36 PM

    citadel tried investment banking once before. it was 2003 or 2004 i believe. it was a flop and the guy they hired to run it (john ledden) ended up being the operations administrator of the Global Equities group.

  25. 25
    Posted by cheap oem software | May 2, 2012 at 2:22 PM

    Vi6QCm I value the blog post.Thanks Again. Want more.

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