Lazard's key to hybrid work - Point72 all-in on the cloud - Citadel outpaces rivals
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On the agenda today:
- Lazard's advisory CEO thinks he's found the key to successful hybrid work.
- Point72 is undergoing a massive overhaul to transform into a cloud-first operation.
- Citadel has outpaced its multi-strategy rivals so far this year.
Let's get started.
The secret to hybrid work? Staying home Mondays and Fridays
Lazard advisory CEO Peter Orszag thinks he may have found the key to a successful hybrid return-to-office plan. Starting in October, Lazard bankers will come into the office three days a week, and will work remotely on Mondays and Fridays. Why Orszag thinks it may be the secret to hybrid work.
Steve Cohen's Point72 is betting big on the cloud
Point72 is in the middle of a five-year plan to turn the $21.8 billion hedge fund into a cloud-first operation. Expected to wrap up in 2024, the project aims to migrate 70% to 80% of the hedge fund's cloud-eligible applications to the new tech. The firm's chief technology officer walked us through the process.
Citadel is outpacing its rivals so far this year
Ken Griffin's $38 billion hedge fund is up nearly 10% for the year - and is outstripping multi-strategy rivals like Millennium, Point72, and ExodusPoint. Here's what you need to know.
Rockefeller Capital is beefing up its dealmaking team
Rockefeller hired three new managing directors in under a year to grow its strategic advisory arm, which has quietly been nabbing credit on multibillion-dollar deals. We spoke with two managing directors, who shared their plans for expansion - and outlined which sectors are hot for M&A.
These experts are helping investors make sense of China right now
In the midst of China's regulatory crackdowns, big-name investors are turning to these 10 China-focused analysts, strategists, and short-sellers for guidance. Here's how strategists from BCA Research to Gavekal are approaching China.
On our radar:
- Staffers of the country's top real-estate broker say she threw things at them and made employees' lives miserable. What it's like to work with the Queen of the Skyscrapers.
- Wall Street is preparing for a flood of IPOs, according to Axios. More than 100 companies are expected to go public by the end of the year.
- Per Bloomberg, Morgan Stanley is expanding its program to hire more Black and female staffers to London. More on that here.
- WSJ writes that banks are on track for the busiest year ever, thanks to a months-long deal spree.
- State Street has agreed to buy Brown Brothers Harriman Investor Services for $3.5 billion, WSJ reports. The deal is the bank's largest since it bought Charles River three years ago.