Gibson Dunn fixture Randy Mastro — whose Rolodex of clients ranges from Chris Christie to James Dolan — is leaving, apparently for rival law firm King & Spalding.
Randy Mastro, the experienced Gibson Dunn lawyer who's repped a vast array of clients, is leaving the firm, Insider's Jack Newsham has learned.
Let's look into it.
This post first appeared in 10 Things on Wall Street, a newsletter by Insider that brings you all the biggest stories dominating the finance industry — delivered daily to your inbox. Sign up here. Download Insider's app here.
1. Randy Mastro, a fixture at Gibson Dunn since 1998, is leaving the firm. Three people said Mastro is in talks to join rival King & Spalding, but others said he is retiring from the business.
His clients have included former New Jersey Governor Chris Christie, Madison Square Garden owner James Dolan, and online-gambling outfit DraftKings.
Over time, Mastro has developed a reputation as a big business generator who's a pitbull of a litigator.
His ability to fatten the law firm's wallets was evident in his work with oil company Chevron. In one of his biggest cases, Chevron ran up a $32 million tab with Gibson Dunn back in 2014.
In addition to his work in private practice, the 66-year-old Mastro gained a reputation for squaring off against organized crime as a New York federal prosecutor and public official. In 2012, the New Yorker reported that he was known to wield a baseball bat during meetings.
Insider's Jack Newsham has the full, exclusive story on Mastro's departure.
In other news:
2. Wall Street is pouring billions of dollars into tech to keep its wealth-management forces competitive. Here are six executives leading that charge.
3. Adam Neumann is back with another startup venture, the rental-housing company Flow. Here's a look at the rise, fall, and return of the WeWork cofounder and ousted chief executive.
4. Tiger Cubs are betting big on retail and food names, from Dollar General to a potato company based in Idaho. Here's a rundown of what stocks the Tiger Cubs bought and sold in the second quarter.
5. Citi has hired Ryan Rugg from IBM as its head of digital assets, according to Rugg's LinkedIn profile. Her new role will sit inside Citi's Trade and Treasury Solutions team, and comes after the bank told investors earlier this year that it was working with governments on central-bank digital currencies.
6. Citadel Securities raked in a record $4.2 billion in first-half net trading revenue, according to Bloomberg. The development comes after Insider reported that Ken Griffin's shop had trounced rivals this year.
7. CVS Health made the first move for primary-care company One Medical, but Amazon edged them out. Here's an inside look into the tech company's $3.9 billion deal for One Medical, and how CVS ended up alone.
8. Meet Vivian Tu, the ex-Wall Street trader who became a billionaire at 27 years of age. She details six personal finance tips for navigating a recession, and her preferred method for trading stocks.
9. A water company is shaming the Hamptons' uber-rich for using too much of the resource. These wealthy folks are using over 100 times more water than the average American.
10. How much should you be paid? Insider has created a database of more than 250,000 salaries from a variety of firms like JPMorgan Chase, Disney, and Google.
Done deals:
- KKR has completed its acquisition of cybersecurity company Barracuda Networks from fellow private-investment firm Thoma Bravo. JPMorgan advised Thoma Bravo and Barracuda, while Kirkland & Ellis was the pair's legal counsel. Guggenheim Securities, DBO Partners, and Barclays advised KKR, and Simpson Thacher & Bartlett was legal counsel.
- Virgin Voyages has raised $550 million in new capital from BlackRock, Bain Capital Private Equity, and Virgin Group, among other investors. Virgin Voyages launched in August 2021 and currently operates two cruise ships.
Curated by Aaron Weinman in New York. Tips? Email aweinman@insider.com or tweet @aaronw11. Edited by Hallam Bullock (tweet @hallam_bullock) in London.