David Solomon calls a top to SPAC mania
Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:
- Goldman Sachs CEO David Solomon sounds a warning on the SPAC boom
- Merrill Lynch trainees keep breaking cold-calling rules
- A 40-year wirehouse veteran is making a comeback
Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco.
Goldman Sachs gives an update on its grand plans
We're one year out from Goldman Sachs' big blowout of its long-term plans at its 2020 investor day.
And while a lot has happened since January 2020, that doesn't mean it's not worth checking in on how one of Wall Street's top banks is doing when it comes to its future plans.
From the future of its consumer bank, Marcus, to thoughts on SPAC mania, we've got the rundown of all the important nuggets from Goldman's fourth-quarter and full-year earnings report.
Click here to read the entire story.
Merrill Lynch's pipeline for thousands of new advisors is 'in limbo' as the firm overhauls its training program and deals with ongoing cold-call violations
Financial advisor trainees at Merrill Lynch Wealth Management keep calling people they shouldn't, and it's turning into a big problem. Read more here.
Just 15% of financial advisors are women. A 40-year veteran of Merrill Lynch who just came out of retirement explains how to change that.
There is a significant lack of women financial advisors. Cynthia Hewitt, a forty-year veteran of Merrill Lynch, wants to change that. See more here.
Odd lots:
Citrix Is in Talks to Buy Vista's Wrike for $2 Billion-Plus (Bloomberg)
Blackstone's Pre-Covid-19 Portfolio Shifts Have Turned Out Well (WSJ)