John Havens, who stepped down from Citigroup Inc. on the same day Chief Executive Officer Vikram Pandit resigned in October 2012, will join the bank’s former hedge-fund arm as non-executive chairman and partner.
Ashland Inc. , the maker of Valvoline motor oil, agreed to buy closely held International Specialty Products Inc. for $3.2 billion to tap demand for higher-margin ingredients used in personal-care products and pharmaceuticals.
Muriel Siebert, whose success as one of Wall Street’s early, influential female analysts earned her the contacts and nest egg to become the first woman to buy a seat on the New York Stock Exchange, has died. She was 84.
Amelia Cottrell, a U.S. Securities and Exchange Commission investigator who helped build an insider-trading case against a unit of billionaire Steven A. Cohen’s SAC Capital Advisors LP, was promoted to a top enforcement position in the agency’s New York office.
Among Vikram Pandit’s last jobs as Citigroup Inc.’s chief executive officer was to decide the fate of the bank’s hedge-fund unit, which employs some of his oldest colleagues. He agreed to give them most of it for free.
Ashland Inc. , the maker of Valvoline motor oil, gained the most in 17 months in New York trading after the company agreed to sell its low-margin chemical distribution unit to TPG Capital for $930 million.