Deals
Citigroup Ex-Manager Islam Has No Regrets After Funds Crash
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Reaz Islam, who ran Citigroup Inc. hedge funds that lost most of their value in 2008, has “no regrets” about his performance and said “ambulance-chasing” lawyers are behind claims that he and the bank misled clients.
Investors in the ASTA/MAT municipal bond funds knew how volatile they were, Islam said in interviews and e-mails that broke his four-year silence on the matter. Those claiming otherwise are either “engaged in fraud or highly irresponsible,” said Islam, who left New York-based Citigroup in 2008 and works in Dhaka, Bangladesh.