Earlier this month, hedge fund manager Citadel Investment Group L.L.C. announced that it is entering the investment banking business, hiring three former Merrill Lynch executives to lead the effort. Todd Kaplan, who joined Citadel in March, will run the unit, reporting to Citadel Securities CEO Rohit D’Souza. Reporting to Mr. Kaplan will be Brian Maier, head of industry groups, and Carl Mayer, head of leveraged finance. In the past, Citadel has entered non-hedge fund businesses, including the successful launch of an options market-making unit, but this marks its first major foray into a non-trading business. The Hedge Fund Law Report discussed Citadel’s move in an interview with David Matteson, a Partner at Drinker Biddle & Reath LLP. We provide excerpts from the interview.