Hedge fund Citadel on Tuesday said it bought a 5.3% stake in Western Alliance Bancorporation , sending a strong signal of confidence as the company was swept up in growing fears of a broader financial crisis after two other banks were seized.
Kenneth Griffin, CEO of Citadel, is seen in a framegrab from live video as he testifies about stock trading and GameStop, during an entirely virtual hearing of the U.S. House of Representatives Committee on Financial Services entitled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide?”, in Washington, U.S., February 18, 2021.
, sending a strong signal of confidence as the company was swept up in growing fears of a broader financial crisis after two other banks were seized. Citadel, run by billionaire Ken Griffin, earned $16 billion in profits for investors last year and its trades are closely watched by markets for signs of trends. Last year's returns made Citadel the most successful hedge fund ever.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Western Alliance stock soars nearly 40%, as Citadel boosts stake to over 5%Shares of Western Alliance Bancorp. shot up 38.8% in morning trading Tuesday, to stage a big bounce following the drubbing they suffered the past three...
Read more »
Western Alliance taking extra steps to ensure liquidityWestern Alliance Bancorp said Monday it has taken extra steps to ensure liquidity following last week’s failure of SVB Financial’s Silicon Valley Bank....
Read more »
SVB collapse: Western Alliance shares plunge on banking contagion fearsWestern Alliance shares plummet 65% in early-trading as bank stocks take a beating from SVB's collapse
Read more »
Celebrate American Western heritage, culture at the Briscoe Western Art Museum Spring Break RoundupThe Briscoe Western Art Museum is extending its hours and offering guests crafts, scavenger hunts, and stories as a part of its Spring Break Roundup.
Read more »
Priyanka Chopra Says She Reached Pay Equity for the First Time With 'Citadel'“I’m laughing about this, but it’s kind of nuts.”
Read more »
Hedge funds and banks offer to buy deposits trapped at Silicon Valley BankHedge funds are reportedly offering to buy startup deposits at Silicon Valley Bank for 60 to 80 cents on the dollar, after the lender was taken over by the U.S. Federal Deposit Insurance Corporation on Friday.
Read more »