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Saturday, January 16, 2010

Citadel's investment bank chief resigns

(Crain’s) — Citadel Investment Securities LLC has lost the man it hired a year ago to get its investment banking unit off the ground.

Todd Kaplan, who joined Citadel’s securities division in March, resigned Thursday, a Citadel spokeswoman said.

Mr. Kaplan, who lives in Chicago, had worked for Merrill Lynch & Co. before it was bought out by Bank of America last year. His role at Citadel was to help the Chicago-based hedge fund firm start an investment banking division out of New York.

His departure was first reported by Zerohedge, a financial blog.

Mr. Kaplan’s departure follows that of Rohit D’Souza, who resigned in October as chief executive of Citadel Securities.

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