Jamie Dimon's $50 million surprise
Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:
- Jamie Dimon just got a glitzy new offer to keep him around another five years.
- UBS is raising salaries for investment banking analysts, associates, and directors and we have all the details.
- Ryan Tolkin's professors, colleagues, and friends give us some insight into the 34-year-old's rise at Schonfeld Strategic Advisors.
- We rounded up the top fintechs you should look out for this year, including some that could be the next household names, and others that are building behind-the-scenes tech that will revolutionize Wall Street.
Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco.
The bank has granted Dimon a major stock award - but he'll have to stick around another five years to collect it.
A look at what we know so far.
UBS has joined the ranks of banks bumping compensation for junior and mid-level bankers. Get the details for each level.
How Tolkin got to his lofty perch is a combination of natural ability and extreme focus and discipline, said those who know him best. We spoke with Tolkin's professors, colleagues, and friends to understand how he turned Schonfeld into an $8.8 billion hedge-fund heavyweight - and what comes next. Here's what we learned.
From Daylight, which provides a digital bank account designed for the LGBTQ+ community, to Vinovest, an app for investing in wine, these are the top fintechs that you should be keeping an eye on. See the full list here.
57 promising fintechs building the behind-the-scenes tech revolutionizing Wall Street
We asked more than 40 investors to nominate the most promising fintechs, and of the 70 nominations received, 57 were fintechs selling directly to businesses (B2B). Check out the 57 most promising B2B fintechs of 2021.
Wells Fargo Strategic Capital is on the lookout for a new lead investor who will run a team focused on trading tech. An MD told Insider about the hiring plans, which you can read up on here.
Miller-May shared advice for young Black professionals seeking inclusive workplaces. Here's what she said.
Odd lots:
Robinhood's Biggest IPO Winners (The Information)
Zero-Down Mortgages Stoke U.S. Subprime-Like Fears in Canada (Bloomberg)
Carlyle Launches Renewable-Energy Infrastructure Unit (WSJ)
Credit Suisse Exodus in Full Swing as More Senior Bankers Leave (Bloomberg)