In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the world’s fourth-largest commodity trader with revenue topping $100 billion last year.
Index funds became popular over the last four decades because they’re simple, conservative and low cost. A different kind of exchange-traded fund is drawing record cash by promoting better returns with the same stocks.
The executive suite at Citigroup Inc.’s headquarters in New York where Michael Corbat has his office hasn’t been renovated since its previous occupant, Vikram Pandit, vacated the premises in October 2012.
Citigroup Inc. won dismissal of a lawsuit by former Wall Street banker William Salomon, son of the founder of Salomon Brothers, who blamed the bank for his personal secretary’s theft of more than $1 million.