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After a run of previous failures, the Citibank is now closing its $400 million Tribeca Convertible LP arbitrage fund. It is the final chapter in Citigroup’s plan to shut down its Tribeca Global Investments hedge fund. Investor redemptions are thought to be the reason behind the fund closing. According to an Aug. 4, 2008 article […]
The Financial Industry Regulatory Authority (FINRA) will launch a two-year pilot program later this fall that will allow some investors making arbitration claims to choose a panel made up of three public arbitrators instead of two public arbitrators and one non-public arbitrator, as is currently the norm. Six firms – Merrill Lynch, Citigroup Global Markets, […]
Analysts are forecasting that Citigroup losses will show even more write downs on subprime-related investments in the second quarter, reducing the value of its assets by $8.9 billion. The news has not been good for the nation’s largest bank and indicates more Citigroup trouble. This is the third consecutive quarter showing Citigroup losses, and sent […]