November 26, 2006

Citadel Loses Global Stocks Head – Or More?

-- By Pushpa Sathish, Staff Writer

It’s official - the Citadel Investment Group has lost its head of global stocks. Anand Parekh’s resignation, which was first reported in The New York Times, was confirmed by Bryan Locke, a spokesman for the hedge fund manager. The $12 billion worth fund has been in the news lately for the losses it reportedly suffered. Parekh’s resignation only added fuel to flames of speculation, but Locke categorically denied that the fund had suffered any losses.

According to trusted sources, both the multi-strategy funds that Citadel manages have done well this ear, returning 20 percent to investors. But the rumors of losses seem to have had far-reaching consequences – stocks in Tokyo slipped and played a part in the decline in energy, treasury, and currency markets on November 24.

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I seriously doubt that Citadel has lost USD12 billion as your post mentions.

Posted by: Sergio Catlla | Nov 27, 2006 1:21:24 PM

Sergio, thanks for calling my attention to this glaring error. I've corrected the post.

Posted by: Pushpa | Dec 2, 2006 6:53:27 AM

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