Elliott under fire - Deutsche poaches BNP exec - SoftBank's Miami digs
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On the agenda today:
- Union groups take aim at activist hedge fund Elliott Management.
- Deutsche Bank poaches distressed vet from BNP Paribas.
- SoftBank's close to inking a new office in Miami.
Let's get started.
Unions target activist fund Elliott Management for underperformance
A new report from union groups warns big investors to proceed with caution when investing with the activist hedge fund Elliott Management. The groups said Paul Singer's $48 billion firm results in negative outcomes for its investors as well as the companies it agitates for. Here's what else is in the scathing report.
Deutsche Bank poaches BNP vet for its US credit business
Deutsche Bank has hired Dan Crowley, a senior credit-trading exec at BNP Paribas, as its new head of US credit trading. The experienced distressed-credit specialist joins Deutsche shortly after the bank lost a key exec to the buy side. More on the key hire here.
Evergrande is in a deep hole of debt
The Chinese property giant, Evergrande, currently owes around $300 billion of liabilities to banks and bondholders. The fate of the indebted Chinese company has spurred worry for investors around the globe, sending US markets plummeting. But here's why three top analysts don't believe this is the Chinese 'Lehman Brothers moment.'
A disability didn't stop this student from landing a job in a top bank
Kevin Truong, 20, has lived with dwarfism since childhood. But he hasn't let this stop him from attending the University of California, Berkeley, or getting a job at investment bank Credit Suisse. In a now-viral LinkedIn post, Truong shared the news about how he proved himself wrong.
SoftBank is nearing a major deal for a large office space in Miami, joining the likes of tech giants Microsoft and Spotify. The latest addition reveals how Florida is building out its tech hub as a promising destination for big companies. See why the Miami mayor is calling it the "Silicon Valley of the South."
On our radar:
- Per Bloomberg, former Trump treasury secretary Steven Mnuchin raised $2.5 billion for a new fund.
- The FT reports that climate-change investment funds undermine the fight against global warming.
- "I worry I'm a narcissist. What do I do?" Get the answer to this question in our latest work-advice column.