A subsidiary of Chicago-based hedge fund Citadel Investment Group has been appointed the asset administrator for the US operations of failed bank Lehman Brothers. The move – a coup for Citadel – comes barely a week after Citadel’s Equity fund lodged a $470m claim against the Lehman bankruptcy estate. Citadel Solutions will be responsible for administrating between $40-50bn of complex assets at Lehman Brothers Holdings, an arrangement which nearly triples the size of the assets administered by the Citadel unit.