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<p>Good morning and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. I'm Dan DeFrancesco, and here's what's on the agenda today:</p><ul><li>RBC dealmakers explain how increased interest in ESG-focused deals has changed how investment banks <a href="https://www.businessinsider.com/esg-deals-surge-changing-investment-banks-advise-clients-dealmaking-rbc-2021-5">are operating</a>. </li><li>Goldman Sachs is rolling out a new <a href="https://markets.businessinsider.com/currencies/news/goldman-sachs-new-crypto-trading-team-internal-memo-report-says-2021-5-1030402499">crypto trading team</a>. </li><li>Asset managers are <a href="https://www.businessinsider.com/fidelity-blackrock-crypto-environmental-esg-concerns-investing-asset-managers-2021-5">building crypto offerings</a> to meet investor demand, but high carbon emissions are a "stumbling block."</li></ul><p><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a></p><p>Join us Thursday, May 13 at 12 p.m. ET for "Financing Net-Zero," to hear from financial market leaders and investors about the future of sustainability financing. <strong><a href="https://event.on24.com/wcc/r/3087756/E09DD0612638861F529B58E12039CF50?partnerref=editorial_newsletter" target="_blank" rel="noopener noreferrer">Register here</a></strong><strong>.</strong> </p><p>Like the <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>? Hate the newsletter? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>. </p><h2><a href="https://www.businessinsider.com/esg-deals-surge-changing-investment-banks-advise-clients-dealmaking-rbc-2021-5">RBC dealmakers explain how investment banking is transforming as ESG becomes a hot topic with clients</a></h2><p><a href="https://www.businessinsider.com/esg-deals-surge-changing-investment-banks-advise-clients-dealmaking-rbc-2021-5"><div type="image" title="Lindsay Patrick and Vito Sperduto, RBC Capital Markets" height="905" width="1206" msid="82519938" hostid="261"></div></a></p><p>Corporates are stepping up their demands for sustainably focused deals, and banks are responding. Vito Sperduto and Lindsay Patrick, two dealmaking execs at RBC Capital Markets, detail how investment banks need to adjust. </p><p><a href="https://www.businessinsider.com/esg-deals-surge-changing-investment-banks-advise-clients-dealmaking-rbc-2021-5">Here's how dealmakers are changing as a result of ESG.</a></p><h3><a href="https://www.businessinsider.com/fidelity-blackrock-crypto-environmental-esg-concerns-investing-asset-managers-2021-5">Investors love crypto but worry about its carbon footprint. Here's how asset managers like Fidelity and Invesco are addressing their concerns.</a></h3><p><a href="https://www.businessinsider.com/fidelity-blackrock-crypto-environmental-esg-concerns-investing-asset-managers-2021-5"><div type="image" title="making crypto green 4x3" height="1626" width="2168" msid="82519939" hostid="261"></div></a></p><p>Crypto's high carbon emissions are a "stumbling block" for some, one exec told Insider. <a href="https://www.businessinsider.com/fidelity-blackrock-crypto-environmental-esg-concerns-investing-asset-managers-2021-5">Here's how asset managers are addressing concerns</a>.</p><h3> <a href="https://markets.businessinsider.com/currencies/news/goldman-sachs-new-crypto-trading-team-internal-memo-report-says-2021-5-1030402499">Goldman Sachs announces a new crypto trading team in an internal memo</a></h3><p><a href="https://markets.businessinsider.com/currencies/news/goldman-sachs-new-crypto-trading-team-internal-memo-report-says-2021-5-1030402499"><div type="image" title="Bitcoin." height="2670" width="3560" msid="82519942" hostid="261"></div></a></p><p>Goldman Sachs has informed employees of a new cryptocurrency trading desk, the bank confirmed. <a href="https://markets.businessinsider.com/currencies/news/goldman-sachs-new-crypto-trading-team-internal-memo-report-says-2021-5-1030402499">Here's what we know</a>.</p><h3><a href="https://www.businessinsider.com/jpmorgan-cio-chief-information-officers-promotion-tech-innovation-employee-experience-2021-5">JPMorgan just promoted 2 CIOs to newly formed groups focused on improving employees' experience using the bank's tech</a></h3><p><a href="https://www.businessinsider.com/jpmorgan-cio-chief-information-officers-promotion-tech-innovation-employee-experience-2021-5"><div type="image" title="collage (1)" height="3000" width="4000" msid="82519945" hostid="261"></div></a></p><p>James (JR) Reid and Melissa Goldman were both named chief information officers to newly formed groups at JPMorgan focused on internal tech. <a href="https://www.businessinsider.com/jpmorgan-cio-chief-information-officers-promotion-tech-innovation-employee-experience-2021-5">Learn more about the promotions</a>.</p><h3><a href="https://www.businessinsider.com/ray-dalio-new-personality-test-mortifyingly-accurate-2021-5">I took the personality test Ray Dalio helped design and uses at Bridgewater. The results were mortifying.</a></h3><p><a href="https://www.businessinsider.com/ray-dalio-new-personality-test-mortifyingly-accurate-2021-5"><div type="image" title="Ray Dalio" height="1742" width="2322" msid="82519947" hostid="261"></div></a></p><p>Insider's Rebecca Knight took a new personality test that Ray Dalio, the billionaire founder of Bridgewater Associates, helped design. <a href="https://www.businessinsider.com/ray-dalio-new-personality-test-mortifyingly-accurate-2021-5">Here's what it said</a>. </p><h3><a href="https://www.businessinsider.com/marble-ridge-founder-dan-kamensky-sentencing-prison-neiman-marcus-2021-5">The hedge fund manager who blew up his career in a single day after a years-long spat with a bankrupt retailer just got handed a 6-month prison sentence</a></h3><p><a href="https://www.businessinsider.com/marble-ridge-founder-dan-kamensky-sentencing-prison-neiman-marcus-2021-5"><div type="image" title="Dan Kamensky" height="545" width="727" msid="82519950" hostid="261"></div></a></p><p>Marble Ridge founder Dan Kamensky received a sentence of 6 months in prison and 6 months home confinement on Friday. <a href="https://www.businessinsider.com/marble-ridge-founder-dan-kamensky-sentencing-prison-neiman-marcus-2021-5">Get the full rundown here</a>.</p><h3><a href="https://www.businessinsider.com/esg-deals-surge-changing-investment-banks-advise-clients-dealmaking-rbc-2021-5">Must-know promotions, exits, and hires at firms like Blackstone, Russell Investments, and Viking Global</a></h3><h2><a href="https://www.businessinsider.com/esg-deals-surge-changing-investment-banks-advise-clients-dealmaking-rbc-2021-5"><strong style="color: #222222; font-size: 15px;"><div type="image" title="Richard Cordray" height="2537" width="3382" msid="82519952" hostid="261"></div></strong></a></h2><p>Guggenheim poached two leveraged finance leaders from Natixis. Divya Nettimi left Viking. Paget MacColl will head Blackstone's hedge fund solutions. <a href="https://www.businessinsider.com/esg-deals-surge-changing-investment-banks-advise-clients-dealmaking-rbc-2021-5">Here are all the big people moves across the Street</a>.</p><h2><strong style="color: #222222; font-size: 15px;">Odd lots:</strong></h2><p><a href="https://www.cnbc.com/2021/05/07/goldman-sachs-unveils-new-cryptocurrency-trading-team-in-employee-memo.html">Goldman Sachs internal memo unveils new cryptocurrency trading team (CNBC)</a></p><p id="link-28f712f3"><a href="https://www.nytimes.com/2021/05/07/business/companies-employees-vaccine-requirements.html">Health Advocate or Big Brother? Companies Weigh Requiring Vaccines. (NYT)</a></p><p><a href="https://www.bloomberg.com/news/articles/2021-05-07/black-banking-executives-on-how-to-sustain-post-floyd-changes?sref=5xrDvJna">Black Banking Executives on How to Sustain Post Floyd Changes (Bloomberg)</a></p><p><a href="https://www.cnbc.com/2021/05/07/leaving-california-for-texas-green-dot-moves-headquarters-to-austin.html">Green Dot joins corporate exodus from California as fintech firm moves to Austin (CNBC)</a></p>

Insider finance: Crypto's stumbling block

<p>Good morning and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. I'm Dan DeFrancesco, and here's what's on the agenda today:</p><ul><li>Goldman Sachs wants its US staffers back in the office by June 14. <a href="https://www.businessinsider.com/goldman-sachs-return-to-office-back-june-memo-reopening-employees-2021-5">We've got the details</a>. </li><li><keyword id="42111" type="COMPANY" weightage="60" keywordseo="Wall-Street">Wall Street</keyword> is <a href="https://www.businessinsider.com/goldman-sachs-citigroup-morgan-stanley-summer-2022-analyst-internship-offers-2021-5">sending out offer letters</a> to investment-banking interns for 2022 with details on start dates and pay.</li><li>Family offices are increasingly diving into crypto thanks to <a href="https://www.businessinsider.com/family-office-crypto-investing-millennial-bitcoin-ether-2021-4">millennial heirs</a> taking the reins. </li></ul><p><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a></p><p>Like the <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>? Hate the newsletter? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>. </p><h3><a href="https://www.businessinsider.com/goldman-sachs-return-to-office-back-june-memo-reopening-employees-2021-5">Goldman Sachs just told its US staffers they need to be back in the office by June 14 in one of Wall Street's earliest pushes to get employees back in person</a></h3><p><a href="https://www.businessinsider.com/goldman-sachs-return-to-office-back-june-memo-reopening-employees-2021-5"><div type="image" title="David Solomon" height="1695" width="2259" msid="82404150" hostid="261"></div></a>According to an internal memo, Goldman Sachs is asking its US employees to come back into the office by June 14. </p><p><a href="https://www.businessinsider.com/goldman-sachs-return-to-office-back-june-memo-reopening-employees-2021-5">Here's what else you need to know.</a></p><h3><a href="https://www.businessinsider.com/goldman-sachs-citigroup-morgan-stanley-summer-2022-analyst-internship-offers-2021-5">Goldman Sachs, Morgan Stanley, and Citigroup have sent out offer letters for investment-banking interns for summer 2022. Here are the details on 5 banks' pay, start dates, and signing bonuses.</a></h3><p><a href="https://www.businessinsider.com/goldman-sachs-citigroup-morgan-stanley-summer-2022-analyst-internship-offers-2021-5"><div type="image" title="Wall Street." height="2667" width="3556" msid="82404153" hostid="261"></div></a></p><p>Investment-banking summer internship offer letters have already begun to go out for 2022 programs. <a href="https://www.businessinsider.com/goldman-sachs-citigroup-morgan-stanley-summer-2022-analyst-internship-offers-2021-5">Here are details from five banks that have sent them</a>. </p><h3><a href="https://www.businessinsider.com/family-office-crypto-investing-millennial-bitcoin-ether-2021-4">More family offices are investing in crypto as millennial heirs take a seat at the table and banks hop on the Bitcoin bandwagon</a></h3><p><a href="https://www.businessinsider.com/family-office-crypto-investing-millennial-bitcoin-ether-2021-4"><div type="image" title="GettyImages 1151121127, rich millennial man" height="2672" width="3562" msid="82404157" hostid="261"></div></a></p><p>Most family offices aim for wealth preservation, not moonshots. But with millennial heirs taking a seat at the table, old-money families are warming up to crypto. <a href="https://www.businessinsider.com/family-office-crypto-investing-millennial-bitcoin-ether-2021-4">Here's how millennials are changing the game.</a></p><h3><a href="https://www.businessinsider.com/rbc-guggenheim-announce-new-raises-protected-weekends-junior-investment-bankers-2021-5">RBC Capital Markets and Guggenheim Securities just announced the latest junior banker raises on Wall Street amid a battle to hang onto young talent</a></h3><p><a href="https://www.businessinsider.com/rbc-guggenheim-announce-new-raises-protected-weekends-junior-investment-bankers-2021-5"><div type="image" title="headhunters and recruiters sourcing talent for wall street 4x3" height="1800" width="2400" msid="82404161" hostid="261"></div></a></p><p>Investment bankers will receive higher pay and in RBC's case, protected weekends and video-free Fridays. <a href="https://www.businessinsider.com/rbc-guggenheim-announce-new-raises-protected-weekends-junior-investment-bankers-2021-5">Read more here</a>.</p><h3><a href="https://www.businessinsider.com/honeybook-pitch-deck-fintech-freelancers-unicorn-tiger-global-series-d-2021-5">Here's the 21-page pitch deck a Citi-backed fintech for freelancers used to raise $155 million from investors like hedge fund Tiger Global</a></h3><p><a href="https://www.businessinsider.com/honeybook-pitch-deck-fintech-freelancers-unicorn-tiger-global-series-d-2021-5"><div type="image" title="HoneyBook Oz Naama Dror co founders" height="1066" width="1421" msid="82404164" hostid="261"></div></a></p><p>HoneyBook, a fintech platform for freelancers, became a unicorn after raising $155 million in funding. The San Francisco-based fintech provided Insider the pitch deck it used to raise that round, which <a href="https://www.businessinsider.com/honeybook-pitch-deck-fintech-freelancers-unicorn-tiger-global-series-d-2021-5">you can see here.</a></p><h3><a href="https://www.businessinsider.com/former-cftc-chairman-joins-fidelity-backed-esg-fintech-startup-ethic-2021-4">Former CFTC head Timothy Massad is joining ESG fintech Ethic as regulators zero in on sustainability</a></h3><p><a href="https://www.businessinsider.com/former-cftc-chairman-joins-fidelity-backed-esg-fintech-startup-ethic-2021-4"><div type="image" title="Timothy Massad, former chairman of the Commodity Futures Trading Commission, speaks at the Milken Institute Global Conference in 2016." height="2980" width="3974" msid="82404167" hostid="261"></div></a></p><p>Massad joins the startup as regulators start to scrutinize the fast-growing ESG investing market. We spoke with him about his role. <a style="font-size: 15px;" href="https://www.businessinsider.com/former-cftc-chairman-joins-fidelity-backed-esg-fintech-startup-ethic-2021-4">Here's what he said.</a></p><h3><a href="https://www.businessinsider.com/vc-sued-proskauer-lawyers-flubbed-hedge-fund-deal-biotech-2021-5">A biotech VC accuses his Proskauer lawyers of bungling a hedge fund deal, costing him 'hundreds of millions'</a></h3><h2><a href="https://www.businessinsider.com/vc-sued-proskauer-lawyers-flubbed-hedge-fund-deal-biotech-2021-5"><div type="image" title="Signage is seen on the exterior of the building where law firm Proskauer Rose LLP is located in Manhattan, New York City, U.S., August 17, 2020." height="2685" width="3580" msid="82404169" hostid="261"></div></a></h2><p>Venture capitalist Robert Adelman has accused his ex-lawyers at Proskauer of 'legal malpractice.' <a href="https://www.businessinsider.com/vc-sued-proskauer-lawyers-flubbed-hedge-fund-deal-biotech-2021-5">Find out more here</a>.</p><h3><a href="https://www.businessinsider.com/morgan-stanley-aws-public-cloud-calculate-equity-trading-risk-2021-5">Morgan Stanley uses 3 billion data points each day to measure its equity risk. Here's how it's using AWS to do it.</a></h3><p><a href="https://www.businessinsider.com/morgan-stanley-aws-public-cloud-calculate-equity-trading-risk-2021-5"><div type="image" title="headshot" height="1080" width="1440" msid="82404171" hostid="261"></div></a></p><p>Morgan Stanley uses cloud computing to gauge the risk of its equity positions each day. <a href="https://www.businessinsider.com/morgan-stanley-aws-public-cloud-calculate-equity-trading-risk-2021-5">Learn more about how the bank does it</a>.</p><h2><strong style="color: #222222; font-size: 15px;">Odd lots:</strong></h2><p><a href="https://www.bloomberg.com/news/articles/2021-05-04/goldman-readies-its-u-s-workforce-for-return-to-offices-in-june?sref=5xrDvJna">Goldman Readies June Return to Office, Vanguard Goes Hybrid (Bloomberg)</a></p><p><a href="https://www.bloomberg.com/news/articles/2021-05-03/apollo-s-5-billion-bet-on-yahoo-aims-to-go-beyond-advertising?sref=5xrDvJna">Apollo's $5 Billion Bet on Yahoo Aims to Go Beyond Advertising (Bloomberg)</a></p><p><a href="https://www.forbes.com/sites/elizahaverstock/2021/05/04/billcom-is-set-to-acquire-utah-billion-dollar-software-startup-divvy/?sh=ec4ff5d39159">Bill.com Is Set To Acquire Utah Billion-Dollar Software Startup Divvy (Forbes)</a></p><p><a href="https://www.reuters.com/business/finance/blackstone-hires-former-goldman-partner-its-hedge-fund-unit-2021-05-04/">Blackstone hires former Goldman partner for its hedge fund unit (Reuters)</a></p><p><a href="https://www.wsj.com/articles/suburban-homes-and-retail-are-the-budding-new-office-hotspot-11620129603?st=cct8hkqygic0pxw&amp;reflink=article_email_sharehare">Suburban Homes and Retail Are the Budding New Office Hotspot (WSJ)</a></p>

Insider finance: Goldman's return to office

<p>Good morning and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. I'm Dan DeFrancesco, and here's what's on the agenda today:</p><ul><li>Meet 10 of the top fintech recruiters <a href="https://www.businessinsider.com/fintech-headhunters-recruiters-hiring-staffing-tech-talent-startups-2021-4">helping startups like Chime and Coinbase staff up</a>.</li><li>Hedge funds like <a href="https://www.businessinsider.com/hedge-funds-citadel-millennium-raiding-big-banks-hiring-volatility-traders-2021-4">Citadel and Millennium</a> are poaching top volatility traders at banks. </li><li>Meanwhile, investment banks are rushing to add more junior bankers <a href="https://www.businessinsider.com/investment-banking-recruiters-hiring-goldman-jpmorgan-attrition-analyst-associate-vp-2021-4">as deal volumes surge</a>. </li></ul><p><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a></p><p>Like the <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>? Hate the newsletter? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>. </p><h3><a href="https://www.businessinsider.com/fintech-headhunters-recruiters-hiring-staffing-tech-talent-startups-2021-4">These 10 headhunters are helping fintechs like Coinbase, Stripe, and SoFi land big hires and stand out in the startup tech talent war</a></h3><p><a href="https://www.businessinsider.com/fintech-headhunters-recruiters-hiring-staffing-tech-talent-startups-2021-4"><div type="image" title="top fintech recruiters4x3" height="1874" width="2499" msid="82369752" hostid="261"></div></a></p><p>Fintechs are increasingly relying on outside recruiting firms to attract top talent. We polled startups, venture capitalists, and industry insiders to highlight 10 of the top fintech recruiters. </p><p><a href="https://www.businessinsider.com/fintech-headhunters-recruiters-hiring-staffing-tech-talent-startups-2021-4">Check out the entire list.</a></p><h3><a href="https://www.businessinsider.com/hedge-funds-citadel-millennium-raiding-big-banks-hiring-volatility-traders-2021-4">After a year of market shocks and monster trading profits, hedge fund giants like Citadel and Millennium are raiding investment banks for volatility traders </a></h3><p><a href="https://www.businessinsider.com/hedge-funds-citadel-millennium-raiding-big-banks-hiring-volatility-traders-2021-4"><div type="image" title="hedge funds versus bankers in pandemic 4x3" height="1800" width="2400" msid="82369755" hostid="261"></div></a></p><p>Buy-side trading firms have poached a slew of star derivatives traders from investment banks. <a href="https://www.businessinsider.com/hedge-funds-citadel-millennium-raiding-big-banks-hiring-volatility-traders-2021-4">Find out what's causing the latest war for talent</a>.</p><h3><a href="https://www.businessinsider.com/investment-banking-recruiters-hiring-goldman-jpmorgan-attrition-analyst-associate-vp-2021-4">Investment banks are racing to staff up as deal work surges, and one recruiting firm has even formed a 'SWAT team' focused on hiring associates and VPs</a></h3><p><a href="https://www.businessinsider.com/investment-banking-recruiters-hiring-goldman-jpmorgan-attrition-analyst-associate-vp-2021-4"><div type="image" title="The Bull of Wall Street" height="3007" width="4009" msid="82369757" hostid="261"></div></a></p><p>Investment banks are seeking backup as they struggle to retain junior staffers. <a href="https://www.businessinsider.com/investment-banking-recruiters-hiring-goldman-jpmorgan-attrition-analyst-associate-vp-2021-4">Here's how recruiting firms are racing to help them poach talent.</a></p><h3><a href="https://www.businessinsider.com/apollo-global-management-ceo-leon-black-marc-rowan-apo-2021-4">Apollo's dealmaking went into overdrive in the first quarter during a tumultuous period for the investment giant</a></h3><p><a href="https://www.businessinsider.com/apollo-global-management-ceo-leon-black-marc-rowan-apo-2021-4"><div type="image" title="Marc Rowan" height="2464" width="3285" msid="82369758" hostid="261"></div></a></p><p>Apollo logged $17 billion in PE sales in the first quarter, Dealogic said, a firm record over the past decade. <a href="https://www.businessinsider.com/apollo-global-management-ceo-leon-black-marc-rowan-apo-2021-4">Get the full rundown here.</a></p><h3><a href="https://www.businessinsider.com/fintech-headhunters-recruiters-hiring-tech-finance-red-hot-market-2021-4">Fintech-focused headhunters are seeing a rush of work as startups scramble to staff up after mega rounds</a></h3><h2><a href="https://www.businessinsider.com/fintech-headhunters-recruiters-hiring-tech-finance-red-hot-market-2021-4"><div type="image" title="digital wall street virtual remote work 3 4x3" height="1500" width="2001" msid="82369761" hostid="261"></div></a></h2><p>Fintech recruiting is hotter than ever as startups with fresh funding look for help staffing up. <a href="https://www.businessinsider.com/fintech-headhunters-recruiters-hiring-tech-finance-red-hot-market-2021-4">Find out more here</a>.</p><h3><a href="https://www.businessinsider.com/eric-wong-china-hedge-fund-blue-ridge-capital-tiger-cub-2021-4">A new China-focused hedge fund is coming from a former Blue Ridge Capital managing director</a></h3><p><a href="https://www.businessinsider.com/eric-wong-china-hedge-fund-blue-ridge-capital-tiger-cub-2021-4"><div type="image" title="beijing skyline" height="750" width="1000" msid="82369762" hostid="261"></div></a></p><p>Eric Wong is launching a China-focused hedge fund, sources tell Insider. <a href="https://www.businessinsider.com/eric-wong-china-hedge-fund-blue-ridge-capital-tiger-cub-2021-4">Here's what we know.</a></p><h3><a href="https://www.businessinsider.com/fintech-giant-marqeta-to-become-a-public-company-in-june-2021-4">Exclusive: $4.3 billion fintech darling Marqeta is planning an IPO as early as June</a></h3><h2><a href="https://www.businessinsider.com/fintech-giant-marqeta-to-become-a-public-company-in-june-2021-4"><div type="image" title="Jason Gardner_Marqeta Headshot 2021" height="2016" width="2680" msid="82369763" hostid="261"></div></a></h2><p>Last valued at $4.3 billion, fintech startup Marqeta is going public in June, sources tell Insider. <a href="https://www.businessinsider.com/fintech-giant-marqeta-to-become-a-public-company-in-june-2021-4">Read more here</a>.</p><h3><a href="https://www.businessinsider.com/wall-street-hires-and-exits-blackstone-amex-bofa-citadel-sec-2021-4">Must-know promotions, exits, and hires at firms like Blackstone, American Express, and Citadel</a></h3><h2><a href="https://www.businessinsider.com/wall-street-hires-and-exits-blackstone-amex-bofa-citadel-sec-2021-4"><div type="image" title="Doug Buckminster" height="1132" width="1510" msid="82369764" hostid="261"></div></a></h2><p>Blackstone hired Yifat Oron to head its new office in Tel Aviv. Citadel nabbed Dan Baranovsky, Citigroup's North America head of equity derivatives trading. <a href="https://www.businessinsider.com/wall-street-hires-and-exits-blackstone-amex-bofa-citadel-sec-2021-4">These are all the people moves you need to know across the Street</a>.</p><h2><strong style="color: #222222; font-size: 15px;">Odd lots:</strong></h2><p><a href="https://www.bloomberg.com/news/articles/2021-04-30/apollo-apo-billionaire-founders-brawl-shunting-aside-josh-harris?sref=5xrDvJna">A Brawl Between Billionaire Founders at Apollo Sidelines One of Its Own (Bloomberg)</a></p><p><a href="https://www.businessinsider.com/alphabet-earnings-google-cloud-deprecation-policy-deals-customer-trust-2021-4">Google Cloud's swell of big, longer-term deals are a sign that customers trust it won't kill off its cloud products (Insider)</a></p><p><a href="https://www.businessinsider.com/donald-trump-vornado-realty-trust-windfall-financing-new-york-california-2021-5">Donald Trump is set to share a $617 million windfall with Vornado Realty Trust, due to a property refinancing deal, reports say (Insider)</a></p><p><a href="https://www.cnbc.com/2021/04/30/robinhood-deepens-ties-with-jpmorgan-by-using-bank-for-money-transfers-ahead-of-expected-ipo.html?__source=google%7Ceditorspicks%7C&amp;par=googleogle">Robinhood deepens ties with JPMorgan by using bank for money transfers ahead of expected IPO (CNBC)</a></p><p><a href="https://www.bloomberg.com/news/articles/2021-04-30/wall-street-bonuses-at-risk-amid-new-clamor-to-finish-dodd-frank?sref=5xrDvJna">Wall Street Bonuses at Risk Amid New Clamor to Finish Dodd-Frank (Bloomberg)</a></p>

Insider finance: Top fintech recruiters

<p>Good morning and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. I'm Dan DeFrancesco, and here's what's on the agenda today:</p><ul><li>Venmo just launched <a href="https://www.businessinsider.com/venmo-cryptocurrency-trading-app-bitcoin-ethereum-litecoin-crypto-2021-4">crypto-trading features</a> on its app. </li><li>Private-equity firms are <a href="https://www.businessinsider.com/single-family-rental-investors-squeeze-regular-homebuyers-cerberus-invitation-homes-2021-4">getting more aggressive</a> outbidding average Americans for single-family homes.</li><li>Find out how much influencers <a href="https://www.businessinsider.com/affiliate-marketing-for-personal-finance-influencers-commission-rates-2021-4">get paid to drive sign-ups</a> to fintechs like Robinhood. </li></ul><p><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a></p><p>Like the <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>? Hate the newsletter? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>. </p><h3><a href="https://www.businessinsider.com/venmo-cryptocurrency-trading-app-bitcoin-ethereum-litecoin-crypto-2021-4">Venmo just added crypto trading as personal finance apps look to cash in on the latest surge into digital currency</a></h3><p><a href="https://www.businessinsider.com/venmo-cryptocurrency-trading-app-bitcoin-ethereum-litecoin-crypto-2021-4"><div type="image" title="Dan Schulman" height="2000" width="2666" msid="82178914" hostid="261"></div></a></p><p>Venmo follows in its parent company PayPal's footsteps by rolling out crypto-trading features for Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. <a href="https://www.businessinsider.com/venmo-cryptocurrency-trading-app-bitcoin-ethereum-litecoin-crypto-2021-4">See more here</a>.</p><h3><a href="https://www.businessinsider.com/tudor-cto-miriam-roiter-retiring-after-25-years-hedge-fund-2021-4">Tudor Investment CTO Miriam Roiter is retiring after 25 years building technology at the $9 billion hedge fund</a></h3><p><a href="https://www.businessinsider.com/tudor-cto-miriam-roiter-retiring-after-25-years-hedge-fund-2021-4"><div type="image" title="Paul Tudor Jones" height="2056" width="2742" msid="82178917" hostid="261"></div></a></p><p>Roiter, an alum of NASA, spent more than two decades at the hedge fund and was the first woman to serve as its chief technology office. <a href="https://www.businessinsider.com/tudor-cto-miriam-roiter-retiring-after-25-years-hedge-fund-2021-4">Learn more about Roiter's retirement here</a>.</p><h3><a href="https://www.businessinsider.com/single-family-rental-investors-squeeze-regular-homebuyers-cerberus-invitation-homes-2021-4">Want to buy a home right now? You might have to outbid a $50 billion private equity firm first.</a></h3><p><a href="https://www.businessinsider.com/single-family-rental-investors-squeeze-regular-homebuyers-cerberus-invitation-homes-2021-4"><div type="image" title="House for sale" height="3420" width="4567" msid="82178922" hostid="261"></div></a></p><p>Big companies are outbidding average Americans by offering cash and skipping due diligence. <a href="https://www.businessinsider.com/single-family-rental-investors-squeeze-regular-homebuyers-cerberus-invitation-homes-2021-4">Read more here</a>.</p><h3><a href="https://www.businessinsider.com/citi-tech-comms-investment-banking-wall-street-telecommunications-media-2021-4">The leader of Citi's new tech and comms investment-banking team explains the strategy of the 'supergroup' aimed at helping clients facing digital disruption</a></h3><p><a href="https://www.businessinsider.com/citi-tech-comms-investment-banking-wall-street-telecommunications-media-2021-4"><div type="image" title="Drury, Phil" height="3453" width="4604" msid="82178927" hostid="261"></div></a></p><p>Philip Drury, the new group's head, explains why now is the right time to combine Citi's technology and communications investment-banking teams. <a href="https://www.businessinsider.com/citi-tech-comms-investment-banking-wall-street-telecommunications-media-2021-4">Get the full rundown on his plans here</a>.</p><h3><a href="https://www.businessinsider.com/cliff-asness-aqr-redemptions-since-2018-performance-q1-quants-2021-4">AQR has lost more than a third of its assets since the end of 2017, but Cliff Asness' firm had a big first quarter</a></h3><p><a href="https://www.businessinsider.com/cliff-asness-aqr-redemptions-since-2018-performance-q1-quants-2021-4"><div type="image" title="Cliff Asness" height="2930" width="3907" msid="82178930" hostid="261"></div></a></p><p>AQR has had a tough go of it since the end 2017, but things are starting to turn around. <a href="https://www.businessinsider.com/cliff-asness-aqr-redemptions-since-2018-performance-q1-quants-2021-4">Get the full rundown on its first quarter</a>.</p><h3><a href="https://www.businessinsider.com/fintech-tifin-group-raised-22-million-series-b-jpmorgan-morningstar-2021-4">Fintech The Tifin Group just nabbed $22 million in funding from JPMorgan, Morningstar, and Broadridge as its CEO looks to build a one-stop wealth and asset management tech shop</a></h3><h2><a href="https://www.businessinsider.com/fintech-tifin-group-raised-22-million-series-b-jpmorgan-morningstar-2021-4"><div type="image" title="wealth management and tech 1 4x3" height="900" width="1200" msid="82178933" hostid="261"></div></a></h2><p>Tifin wants to be a one-stop shop for advisors in the wealth and asset management space. <a href="https://www.businessinsider.com/fintech-tifin-group-raised-22-million-series-b-jpmorgan-morningstar-2021-4">Vinay Nair, its founder, explains the startup's ambitions</a>.</p><h3><a href="https://www.businessinsider.com/affiliate-marketing-for-personal-finance-influencers-commission-rates-2021-4">How much money influencers make driving sign-ups for trading apps like Robinhood and Acorns</a></h3><h2><a href="https://www.businessinsider.com/affiliate-marketing-for-personal-finance-influencers-commission-rates-2021-4"><div type="image" title="influencers in fintech 4x3" height="1874" width="2499" msid="82178936" hostid="261"></div></a></h2><p>Find out what an influencer can expect to get paid for getting their followers to sign up for these trading apps. <a href="https://www.businessinsider.com/affiliate-marketing-for-personal-finance-influencers-commission-rates-2021-4">Read more here</a>.</p><h2><strong style="color: #222222; font-size: 15px;">Odd lots:</strong></h2><p><a href="https://www.bloomberg.com/news/articles/2021-04-20/credit-suisse-halts-star-trader-s-fund-on-risk-concerns?sref=5xrDvJna">Credit Suisse Halts Star Trader's Fund on Risk Concerns (Bloomberg)</a></p><p><a href="https://www.wsj.com/articles/behind-the-mysterious-demise-of-a-1-7-billion-mutual-fund-11618911000?mod=hp_lead_pos4">Behind the Mysterious Demise of a $1.7 Billion Mutual Fund (WSJ)</a></p><p><a href="https://www.wsj.com/articles/cryptocurrency-giant-binance-hires-former-top-bank-regulator-11618912800">Cryptocurrency Giant Binance.US Hires Former Top Bank Regulator (WSJ)</a></p><p><a href="https://finance.yahoo.com/news/ex-cftc-chair-chris-giancarlo-130304413.html">Ex-CFTC Chair Chris Giancarlo Joins BlockFi Board of Directors (Yahoo Finance)</a></p><p><a href="https://www.bloomberg.com/news/articles/2021-04-20/hedge-fund-giant-warns-of-spac-blow-up-after-betting-1-billion?sref=5xrDvJna">Hedge Fund Giant Warns of SPAC Blowup After Betting $1 Billion (Bloomberg)</a></p><p><a href="https://www.bloomberg.com/news/articles/2021-04-20/goldman-reveals-its-black-workforce-numbers-for-the-first-time?sref=5xrDvJna">Goldman Reveals Black Workforce Numbers for the First Time (Bloomberg)</a></p><p><a href="https://www.businessinsider.com/elizabeth-warren-leon-cooperman-wealth-tax-criticisms-2021-4">Sen. Elizabeth Warren wants to grill the billionaire who said the rich would hide their assets from a wealth tax (Insider)</a></p>

Insider finance: Venmo adds crypto

State-owned non-banking finance firm <keyword id="77463" type="COMPANY" weightage="20" keywordseo="Power-Finance-Corporation">Power Finance Corporation</keyword> (PFC) has recorded the highest-ever net profit of ₹8,444 crore for financial year 2020-21, a 49 percent jump over the previous year.<br /><br />In FY20, the PFC had reported a net profit of ₹5,655 crore on a standalone basis.<br /><br />The company's consolidated net profit also increased by 66 per cent in FY21 to ₹15,716 crore against ₹9,477 crore reported in FY20.<br /><br />During 2020-21, the power sector lender increased its net interest income to ₹12,951 crore in compassion to ₹10,097 crore reported in FY 20.<br /><br />The company declared dividend of ₹2 per share which takes up its total dividend distribution in FY 21 of ₹10 per share i.e. 100 per cent.<br /><br />Aided by profit growth, PFC's net worth for FY21 also increased by 16 per cent to ₹52,393 crore.<br /><br />Unlike commercial banks, PFC's Gross <keyword id="79363" type="COMPANY" weightage="20" keywordseo="NPA">NPA</keyword> ratio saw a sharp reduction of 238 bps from FY20. The current GNPA ratio is at 5.70 per cent against 8.08 per cent in FY20<br /><br /><keyword id="920338" type="COMPANY" weightage="20" keywordseo="Net-NPA">Net NPA</keyword> ratio also saw a sharp reduction of 171 bps from FY20. The current Net NPA ratio is at 2.09 per cent against 3.80 per cent in FY20.<br /><br />The lender said that 25 percent of its 'stressed book' got resolved in FY 21.<br /><br />The capital adequacy ratio of the company has also improved sequentially to 18.83 per cent as on March 31, 2021. The capital adequacy is at a comfortable level with sufficient cushion over &amp; above the prescribed regulatory limits.<br /><br />Under the Aatma Nirbhar Discoms liquidity support announced by the government, PFC &amp; its subsidiary <keyword id="46436" type="LOCATION" weightage="20" keywordseo="REC">REC</keyword>, combined together have so far sanctioned ₹1,34,782 crore and disbursed ₹78,855 crore.<br /><br />"I am extremely pleased with our FY 21 results despite the many headwinds faced during the year. The impressive performance in FY 21 as is evident from the highest ever profit, underlines the inherent strengths of PFC in handling adverse economic events. Going forward also, we are committed to deliver long-term value to our shareholders," Chairman and Managing Director R.S. Dhillon said.<br /><br /><strong>SEE ALSO<br /><b><a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/adani-group-under-sebi-scanner-on-market-manipulation/articleshow/83501698.cms">Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks</a></b><br /><b><a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/adani-group-pnb-coal-india-tcs-and-other-stocks-to-watch-out-for-on-june-14/slidelist/83499937.cms">Adani group, PNB, Coal India, TCS and other stocks to watch out for on June 14</a></b><br /><b><a target="_blank" class="c-link" href="https://www.businessinsider.in/cryptocurrency/news/weekly-crypto-roundup-wazirx-under-scrutiny-el-salvador-makes-bitcoin-legal-tender-and-more/slidelist/83478577.cms">Weekly crypto roundup: WazirX under scrutiny, El Salvador makes Bitcoin legal tender and more</a></b><br /></strong>

Non-banking finance firm Power Finance Corporation records 49% jump in net profits in FY21

<ul><li>The <keyword id="156153" type="General" weightage="100" keywordseo="ministry-of-finance" source="Orion">Ministry of Finance</keyword> is recruiting 15 paid and 10 unpaid interns for a duration of 3-6 months.</li><li>The online application window will close on June 16, 2022.</li><li>Candidates can expect a stipend ranging between ₹10,000-20,000 depending upon their qualifications.</li></ul>The Ministry of Finance is inviting applications to fill 15 internship posts at the Department of Economic Affairs for a period of three to six months.<br /><br />The role is open for PhD and postgraduate students working on specific issues such as microeconomic management, economic reforms, capital markets, exchange management, foreign investment in India and Indian investment abroad, monetary policy and others.<br /><br />The online application window is open and the last day to apply for the opportunity is June 16.<br /><cmsannotation type="cmsannotation" annotationid="Stipend" comment="subhead" text="Stipend"><span data-til="noop">Stipend</span></cmsannotation><br />Post-graduate students will get a token remuneration of ₹10,000 per month, while PhD students will receive ₹20,000 per month on completion of their internship after submitting a report, a paper or feedback.<br /><br />The ministry will also be hiring ten additional unpaid interns out of those who are not selected for the paid internship.<br /><cmsannotation type="cmsannotation" annotationid="Eligibility criteria for the internship" comment="subhead" text="Eligibility criteria for the internship"><span data-til="noop">Eligibility criteria for the internship</span></cmsannotation><br />Candidates pursuing post-graduation (session 2021-23) or Ph.D. in economics/law/ finance/ or management from universities/ institutions ranked among the top 25 as per the National Institutional Ranking Framework.<br /><cmsannotation type="cmsannotation" annotationid="Certificate of Internship" comment="subhead" text="Certificate of Internship"><span data-til="noop">Certificate of Internship</span></cmsannotation><br />The certificate will be issued to the Interns on satisfactory completion of their internship of not less than three months and submission of their report/ paper/ feedback/ attendance certificate duly certified by the divisional head.<br /><cmsannotation type="cmsannotation" annotationid="How to apply" comment="subhead" text="How to apply"><span data-til="noop">How to apply</span></cmsannotation><br />Interested and eligible candidates can apply for the opportunity before June 16, 2022, on the official website of<a href="https://dea.gov.in/"> the Ministry of Finance</a>.<br /><br /><ol><li>Open the official website on any smart device.<br /></li><li>Click on the link ‘Internship Scheme of the Department of Economic Affairs for the year 2022-23’.<br /></li><li>Fill up your details and register yourself.<br /></li><li>Add three divisions of interest in order of preference, duration of availability and complete the application form.<br /></li><li>Submit the application form by clicking on ‘Submit’.</li></ol><br />Candidates will be shortlisted by a committee of senior DEA officers on the basis of the application form.<br /><br />Interested candidates may seek more information <a href="https://dea.gov.in/sites/default/files/internship%20ad%202022-23.pdf">here</a> and apply <a href="https://dea.gov.in/">here</a>.<br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/auto/news/maruti-suzuki-will-gain-the-most-from-economic-recovery-and-also-regain-lost-market-share-say-brokerages/articleshow/92171487.cms">Maruti Suzuki will gain the most from economic recovery and also regain lost market share, say brokerages</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/news/indias-indigenous-drones-set-to-take-flight-but-concerns-remain-say-experts/articleshow/92171103.cms"><strong>India's indigenous drones set to take flight but concerns remain, say experts</strong></a><br />

Ministry of Finance is hiring interns with a maximum stipend of ₹20,000 per month

<p>Morning, Aaron here! Today, I'm going to unpack leveraged <keyword id="11895316" type="UNKNOWN" weightage="100" keywordseo="finance" source="Orion">finance</keyword>. It's where private-equity firms fund acquisitions.</p><p>Let's go.</p><p><em>If this was forwarded to you,</em><a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street"><em> sign up here</em></a><em>. Download Insider's app </em><a href="https://www.insider.com/app"><em>here</em></a><em>.</em></p><p><a href="https://www.businessinsider.com/clusterstock"></a></p><p><strong>1. The Fed's pandemic-era rates strategy is over</strong>. The Federal Reserve had been keeping rates anchored so every entity, from struggling cruise lines to private equity-backed companies, raised record numbers in high-yield bonds and leveraged loans so they could — almost literally — stay afloat.</p><p>Rising rates, however, are putting an end to ultra-cheap money, and deals have ground to a halt in recent months.</p><p>Steven Oh, PineBridge Investments' global head of credit, said at an event on Tuesday that there was a "significant widening" (Wall Street speak for pricier deals) of credit spreads in May. But he said this might reverse through June, which means, if spreads "tighten" (become cheaper for borrowers to raise money), dealmaking could pick up.</p><p>Oh cautioned though that company earnings might stutter, while corporate defaults (when companies don't pay their debt on time) may tick up.</p><p><strong>That said, last week saw the first new high-yield bond deals since May 18.</strong></p><p>Pipe company Advanced Drainage Systems raised $500 million, while cruise line Carnival raised $1 billion in bonds, a banker familiar with the transactions told Insider.</p><p>As the debt markets pry open, <a href="https://www.bloomberg.com/news/articles/2022-06-02/banks-look-to-chip-away-at-a-50-billion-buyout-loan-problem?sref=ipW5reFz">Wall Street banks will pounce</a> to offload any loans they've underwritten to avoid taking a loss. And market observers <a href="https://www.businessinsider.com/elon-musk-twitter-deal-extra-funding-hold-chaos-report-2022-6">will be watching Elon Musk,</a> should he attempt to raise money in the capital markets for his Twitter buy.</p><p>"We will look at Twitter as a credit," Jeremy Burton, a portfolio manager with PineBridge, said at the company event. "But what's the business plan for Twitter? We don't really know."</p><p><a href="https://www.businessinsider.com/top-leveraged-finance-bankers-from-goldman-sachs-to-kkr-2021-9"><strong>Meet some of the savviest leveraged-finance bankers on Wall Street here.</strong></a></p><p><u><strong>In other news:</strong></u></p><p><u><a href="https://www.ft.com/content/0239a35f-53f7-4d96-b39a-417ff2bc7db7"></a></u></p><div type="image" title="People stand in front of a large Deutsche Bank logo." height="1965" width="2620" msid="92084725" hostid="261"></div><p><strong>2. Steven Oh's not the only one worried about defaults. </strong>Deutsche Bank predicted that the US corporate default rate <a href="https://www.ft.com/content/0239a35f-53f7-4d96-b39a-417ff2bc7db7">will spike to 10%. Yikes</a>.</p><p><strong>3. Bain Capital raised $2 billion for another Special Situations Fund. </strong>With worries about corporate defaults and weaker earnings, <a href="https://www.marketwatch.com/story/bain-capital-raises-over-us-2-billion-for-asia-focused-fund-271654571831">the private-equity firm is gearing up to snare distressed assets</a>.</p><p><strong>4. Credit Suisse's global head of investment banking said the embattled Swiss bank is 'back.'</strong> David Miller seeks to remind Wall Street that the investment bank makes up 44% of Credit Suisse's revenue <a href="https://www.bloomberg.com/news/articles/2022-06-07/-we-are-back-credit-suisse-s-top-banker-signals-new-swagger?utm_medium=email&amp;utm_source=newsletter&amp;utm_term=220607&amp;utm_campaign=author_17510379&amp;sref=ipW5reFz">despite a slew of scandals last year</a>. It comes as the Swiss bank weighs a fresh round of job cuts after warning of a second-quarter loss, <a href="https://www.bloomberg.com/news/articles/2022-06-08/credit-suisse-weighs-new-round-of-job-cuts-after-loss-warning?srnd=markets-vp">according to Bloomberg</a>. </p><p><strong>5. Popstox wants to help traders catch the next meme stock before it's cool. </strong>The alt-data startup is banking on hedge funds' analysis of social media, while also providing insight for fad-hungry retail investors. <a href="https://www.businessinsider.com/alt-data-startup-popstox-analzying-social-media-for-meme-stocks-2022-6">Here's how Popstox simplified social-media data</a>.</p><p><strong>6. Citadel Securities and Virtu are teaming up with Fidelity and Schwab. </strong>As per Bloomberg, the quartet of money managers are <a href="https://www.bloomberg.com/news/articles/2022-06-07/citadel-securities-virtu-form-crypto-plan-with-fidelity-schwab">building a crypto-trading platform to increase access to digital assets</a>.</p><p><strong>7. BlackRock is debuting an ad campaign to cozy up to Washington</strong>. The campaign will look to <a href="https://www.pionline.com/money-management/blackrock-debuts-ad-campaign-burnish-image-it-faces-esg-scrutiny">improve the asset manager's image at a time of heavy scrutiny for its ESG approach</a>.</p><p><strong>8. Wells Fargo added a new C-suite staffer. </strong>The new hire follows on from the nearly 90 executives the bank has brought on in the last few years. <a href="https://www.businessinsider.com/wells-fargo-org-chart-charlie-scharf-transformed-senior-leadership-departures-2021-8">Here's an exclusive look at Wells' senior recruits.</a></p><p><strong>9. Staying on Wells and hiring, the bank has paused a controversial policy that led to "fake" job interviews. </strong>Chief Executive Charlie Scharf suspended Wells' "diverse slate" initiative <a href="https://www.businessinsider.com/wells-fargo-diversity-pauses-hiring-policy-fake-interviews-2022-6">for several weeks so the bank could figure out how not to look like the NFL</a>.</p><p><strong>10. Kohl's and Franchise Group are going exclusive. </strong>Franchise is weighing a nearly $9 billion bid (including debt) for Kohl's. The retail operator's bid comes after <a href="https://www.reuters.com/markets/deals/kohls-enters-exclusive-talks-with-franchise-group-2022-06-06/">competing offers from Sycamore Partners and Brookfield Asset Management, among others</a>.</p><p><u><strong>Done deals:</strong></u></p><ul><li>Antelope, a pet products company backed by Alpine Investors, <a href="https://www.businesswire.com/news/home/20220607005551/en/Antelope-Alpine%E2%80%99s-Consumer-Pet-Platform-Acquires-Pet-CBD-Supplement-and-Treat-Company-Diggin%E2%80%99-Your-Dog-and-Super-Snouts">bought pet supplier Diggin' Your Dog and Super Snouts</a>. The purchase gives Antelope three pet product companies: Diggin', pet food shop Bocce's Bakery, and pet insurer Doggo.</li><li>Sauce Labs, a software testing company, <a href="https://www.businesswire.com/news/home/20220607005965/en/Sauce-Labs-Secures-Additional-Investment-from-TPG">got another injection from alternative-investment firm TPG</a>. This is the third investment TPG has made in Sauce.</li></ul><p>Keep updated with the latest business news throughout your day by checking out <a href="https://link.chtbl.com/therefresh">The Refresh from Insider</a>, a dynamic audio news brief. <a href="https://link.chtbl.com/therefresh">Listen here.</a></p><p><em>Curated by Aaron Weinman in New York. Tips? Email </em><a href="mailto:aweinman@insider.com"><em>aweinman@insider.com</em></a><em> or tweet </em><a href="https://twitter.com/aaronw11"><em>@aaronw11</em></a><em>. Edited by Hallam Bullock (tweet </em><a href="https://twitter.com/hallam_bullock"><em>@hallam_bullock</em></a><em>) in London.</em></p>

Wall Street: What's going on in leveraged finance

<p>Good morning and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. I'm Dan DeFrancesco, and here's what's on the agenda today:</p><ul><li>A <a href="https://www.businessinsider.com/junior-investment-bankers-burnout-survey-baml-citi-goldman-credit-suisse-2021-4" target="_blank" rel="noopener noreferrer">new survey</a> shows just how burnt out junior bankers are and reveals which firms have the most intense hours.</li><li>The CFO at the <a href="https://www.businessinsider.com/citi-mark-mason-spac-boom-slowing-q1-earnings-investment-banking-2021-4">top SPAC bank</a> warned that the market might be cooling off. </li><li>These six fintechs are rolling out <a href="https://www.businessinsider.com/fintechs-offer-crypto-rewards-bitcoin-credit-debit-card-spend-2021-4">cash-back rewards in crypto</a>.</li></ul><p><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a></p><p>Like the <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>? Hate the newsletter? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>. </p><h3><a href="https://www.businessinsider.com/junior-investment-bankers-burnout-survey-baml-citi-goldman-credit-suisse-2021-4">From 100-hour weeks to <strong>deteriorating</strong> mental health, nearly 500 employees at top investment banks reveal the extent of burnout among junior talent in a new survey</a></h3><p><a href="https://www.businessinsider.com/junior-investment-bankers-burnout-survey-baml-citi-goldman-credit-suisse-2021-4"><div type="image" title="woman stressed laptop" height="1000" width="1333" msid="82101171" hostid="261"></div></a></p><p>A survey of nearly 500 people shows burnt-out junior bankers might be ready to head for the exits. <keyword id="42111" type="COMPANY" weightage="60" keywordseo="Wall-Street">Wall Street</keyword> Oasis released a side-by-side comparison of conditions at 10 top investment banks.</p><p><a href="https://www.businessinsider.com/junior-investment-bankers-burnout-survey-baml-citi-goldman-credit-suisse-2021-4">Find out the big banks stack up against each other</a>.</p><h3><a href="https://www.businessinsider.com/merrill-lynch-wealth-management-bank-of-america-bac-q1-earnings-2021-4">Merrill Lynch's advisor force is shrinking and junior hiring has slowed. Now the firm is looking to make changes to its key training program.</a></h3><p><a href="https://www.businessinsider.com/merrill-lynch-wealth-management-bank-of-america-bac-q1-earnings-2021-4"><div type="image" title="Bank of America" height="1605" width="2140" msid="82101173" hostid="261"></div></a></p><p>A senior executive for the Bank of America-owned wealth manager said advisor headcount has dipped in the first quarter largely due to slower hiring into its development program. <a href="https://www.businessinsider.com/merrill-lynch-wealth-management-bank-of-america-bac-q1-earnings-2021-4">Read more here</a>.</p><h3><a href="https://www.businessinsider.com/citi-mark-mason-spac-boom-slowing-q1-earnings-investment-banking-2021-4">The CFO of Citi, the top SPAC bank this year, is predicting 'normalization' in the blank-check frenzy</a></h3><p><a href="https://www.businessinsider.com/citi-mark-mason-spac-boom-slowing-q1-earnings-investment-banking-2021-4"><div type="image" title="mark mason citi" height="1600" width="2133" msid="82101176" hostid="261"></div></a></p><p>Mason said that while the bank remained "well-positioned" in the SPAC space, the pace of IPOs for blank-check companies will soon slow. <a href="https://www.businessinsider.com/citi-mark-mason-spac-boom-slowing-q1-earnings-investment-banking-2021-4">Here's why.</a></p><h3><a href="https://www.businessinsider.com/fintechs-offer-crypto-rewards-bitcoin-credit-debit-card-spend-2021-4">These 6 fintechs are betting consumers want to earn crypto rewards from their spending in lieu of points and miles</a></h3><p><a href="https://www.businessinsider.com/fintechs-offer-crypto-rewards-bitcoin-credit-debit-card-spend-2021-4"><div type="image" title="Bitcoin" height="1334" width="1778" msid="82101177" hostid="261"></div></a></p><p>Consumers are increasingly looking for ways to pay for things with crypto. As a result, fintechs are scrambling to offer cash-back rewards with crypto. <a href="https://www.businessinsider.com/fintechs-offer-crypto-rewards-bitcoin-credit-debit-card-spend-2021-4">Read more here</a>.</p><h3><a href="https://www.businessinsider.com/citi-wealth-management-division-memo-leaders-ida-liu-ultra-wealthy-2021-4">Citi CEO Jane Fraser is making her mark, exiting markets across Asia and Europe and shuffling leadership in its new wealth division all with an eye on attracting the ultra-rich</a></h3><h2><a href="https://www.businessinsider.com/citi-wealth-management-division-memo-leaders-ida-liu-ultra-wealthy-2021-4"><div type="image" title="jane fraser" height="750" width="1000" msid="82101180" hostid="261"></div></a></h2><p>Citi announced it was departing 13 consumer-banking franchises across Asia and Europe, in keeping with the bank's plans to refocus its efforts on wealth management outside the US. <a href="https://www.businessinsider.com/citi-wealth-management-division-memo-leaders-ida-liu-ultra-wealthy-2021-4">These are the markets it's exiting.</a> </p><h3><a href="https://www.businessinsider.com/irs-hunting-anonymous-coinbase-traders-who-made-100-million-kraken-2021-4">How 750 anonymous Coinbase traders have eluded the IRS even after making $100 million</a></h3><p><a href="https://www.businessinsider.com/irs-hunting-anonymous-coinbase-traders-who-made-100-million-kraken-2021-4"><div type="image" title="Charles Rettig" height="2333" width="3110" msid="82101182" hostid="261"></div></a></p><p>The IRS is still tracking down hundreds of Coinbase traders, some of whom used fake names. <a href="https://www.businessinsider.com/irs-hunting-anonymous-coinbase-traders-who-made-100-million-kraken-2021-4">See more here</a>. </p><h2><strong style="color: #222222; font-size: 15px;">Odd lots:</strong></h2><p><a href="https://www.bloomberg.com/news/articles/2021-04-14/guggenheim-s-minerd-moves-to-miami-as-firm-eyes-flexible-work">Guggenheim's Minerd Moves to Miami as Firm Eyes Flexible Work (Bloomberg)</a></p><p><a href="https://www.businessinsider.com/david-goggins-navy-seal-business-toughness-books-speaking-2021-4">Ex-Navy SEAL and ultramarathoner David Goggins is the toughest man on the planet. His latest challenge: persuading the world to suffer on purpose. (Insider)</a></p><p><a href="https://markets.businessinsider.com/news/stocks/jpmorgan-rich-clients-stock-strategy-ride-market-wave-sp500-kronos-2021-4-1030309904">JPMorgan is offering rich clients a way to ride the market waves created by massive investors (Insider)</a></p><p><a href="https://www.bloomberg.com/news/articles/2021-04-15/brevan-howard-s-main-hedge-fund-to-start-buying-cryptocurrencies?sref=5xrDvJna">Brevan Howard's Main Hedge Fund to Start Buying Cryptocurrencies (Bloomberg)</a></p><p><a href="https://www.bloomberg.com/news/articles/2021-04-15/coinbase-s-retail-buyers-stung-after-plowing-in-early-at-debut?srnd=markets-vp&amp;sref=5xrDvJnavJna">Coinbase's Retail Buyers Stung After Plowing in at Debut (Bloomberg)</a></p>

Insider finance: Investment banks with the worst hours

<p>Good morning and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. I'm Dan DeFrancesco, and here's what's on the agenda today:</p><ul><li>Inside the super-secretive world of investment consultants, the powerful group that <a href="https://www.businessinsider.com/investment-consultants-blackrock-pimco-apollo-vista-asset-managers-institutional-investors-2021-4">advises the biggest asset managers</a>.</li><li>JPMorgan Chase <a href="https://www.businessinsider.com/jpmorgan-chase-hiring-cloud-engineers-tech-work-deposit-system-2021-4">is hiring engineers</a> to overhaul its massive deposit system. </li><li>Blackstone's Jon Gray <a href="https://www.businessinsider.com/blackstone-jon-gray-real-estate-inflation-rent-growth-earnings-q1-2021-4">prepares for higher inflation</a>. </li></ul><p><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a></p><p>Like the <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>? Hate the newsletter? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>. </p><h3><a href="https://www.businessinsider.com/investment-consultants-blackrock-pimco-apollo-vista-asset-managers-institutional-investors-2021-4">Powerful gatekeepers tell the $70 trillion institutional-investor community what to do when their money managers make headlines for the wrong reasons. They could be holding the industry back.</a></h3><p><a href="https://www.businessinsider.com/investment-consultants-blackrock-pimco-apollo-vista-asset-managers-institutional-investors-2021-4"><div type="image" title="investment consulting firms blind eye 4x3" height="1750" width="2334" msid="82257534" hostid="261"></div></a></p><p>When drama breaks out at the world's largest asset managers, big clients have to make tough choices. A group of quiet but powerful advisors helps decide what to do when controversies arise.‌ <a href="https://www.businessinsider.com/investment-consultants-blackrock-pimco-apollo-vista-asset-managers-institutional-investors-2021-4">Find out more about the group, and how it could be holding the industry back</a>. </p><h3><a href="https://www.businessinsider.com/jp-morgan-apologizes-4-billion-loan-european-super-league-soccer-2021-4">What Wall Street bankers really thought about JPMorgan's $4.2 billion European Super League deal</a></h3><h3><a href="https://www.businessinsider.com/jp-morgan-apologizes-4-billion-loan-european-super-league-soccer-2021-4"> <div type="image" title="Super League" height="2677" width="3569" msid="82257538" hostid="261"></div></a></h3><p> Bankers weigh in on JPMorgan's involvement in the controversial European Super League. <a href="https://www.businessinsider.com/jp-morgan-apologizes-4-billion-loan-european-super-league-soccer-2021-4">Read more here</a>.</p><h3><a href="https://www.businessinsider.com/jpmorgan-chase-hiring-cloud-engineers-tech-work-deposit-system-2021-4">JPMorgan Chase is hiring engineers to overhaul its $2.2 trillion deposit system with a new cloud-based approach</a></h3><p><a href="https://www.businessinsider.com/jpmorgan-chase-hiring-cloud-engineers-tech-work-deposit-system-2021-4"><div type="image" title="AP3970898496" height="3600" width="4800" msid="82257542" hostid="261"></div></a>JPMorgan Chase, the largest bank by assets in the US, has its eyes set on a wholesale upgrade of its deposit system, and is searching for engineers who can work on it. <a href="https://www.businessinsider.com/jpmorgan-chase-hiring-cloud-engineers-tech-work-deposit-system-2021-4">Everything you need to know about its deposit system upgrade.</a></p><h3><a href="https://www.businessinsider.com/center-lake-adam-parker-analyst-departures-q1-performance-2021-4">Rising star Adam Parker lost his top two analysts after a rough start to 2021 for $650 million Center Lake Capital</a></h3><p><a href="https://www.businessinsider.com/center-lake-adam-parker-analyst-departures-q1-performance-2021-4"><div type="image" title="Adam Parker" height="1500" width="2000" msid="82257544" hostid="261"></div></a>The firm's main hedge fund is down roughly 2% for the year after a big 2020, leaving just Parker and one other analyst. <a href="https://www.businessinsider.com/center-lake-adam-parker-analyst-departures-q1-performance-2021-4">More on the firm's tumultuous month.</a></p><h3><a href="https://www.businessinsider.com/citi-hires-tasnim-ghiawadwala-barclays-head-commercial-bank-2021-4">Citi just poached a 20-year veteran of the firm back from Barclays to run its commercial bank as it looks to 'refresh' its strategy</a></h3><h3><a href="https://www.businessinsider.com/citi-hires-tasnim-ghiawadwala-barclays-head-commercial-bank-2021-4"><div type="image" title="Tasnim Ghiawadwala, Citi" height="1375" width="1833" msid="82257546" hostid="261"></div></a></h3><p>Citi has rehired Tasnim Ghiawadwala, a longtime former exec, to lead its commercial bank. Ghiawadwala was most recently the head of Barclays' corporate bank in the UK. <a href="https://www.businessinsider.com/citi-hires-tasnim-ghiawadwala-barclays-head-commercial-bank-2021-4">Get the full rundown here.</a></p><h3><a href="https://www.businessinsider.com/blackstone-jon-gray-real-estate-inflation-rent-growth-earnings-q1-2021-4">Blackstone's Jon Gray is preparing for higher inflation. One way he's considering tackling it is by raising rents on the thousands of apartments the private-equity giant owns.</a></h3><p><a href="https://www.businessinsider.com/blackstone-jon-gray-real-estate-inflation-rent-growth-earnings-q1-2021-4"><div type="image" title="Jonathan Gray Blackstone" height="1043" width="1390" msid="82257547" hostid="261"></div></a></p><p>Blackstone President Jon Gray said a "reset" in rents could be a tool to counter higher inflation. <a href="https://www.businessinsider.com/blackstone-jon-gray-real-estate-inflation-rent-growth-earnings-q1-2021-4">Get the full rundown here</a>.</p><h3><a href="https://www.businessinsider.com/wall-street-hires-and-exits-wells-fargo-credit-suisse-citi-2021-4">Must-know promotions, exits, and hires at firms like Wells Fargo, Credit Suisse, and Citi</a></h3><h2><a href="https://www.businessinsider.com/wall-street-hires-and-exits-wells-fargo-credit-suisse-citi-2021-4"><div type="image" title="Lisa McGeough" height="580" width="773" msid="82257549" hostid="261"></div></a></h2><p>Wells Fargo's private wealth head Julia Wellborn departs. Goldman Sachs' Kim Posnett gets promoted. JPMorgan nabs former Lyft engineering exec Eisar Lipkovitz. <a href="https://www.businessinsider.com/wall-street-hires-and-exits-wells-fargo-credit-suisse-citi-2021-4">Find out about all the biggest people moves</a>.</p><h2><strong style="color: #222222; font-size: 15px;">Odd lots:</strong></h2><p><a href="https://www.ft.com/content/bc927efb-1b05-4f2c-947d-a3832bfe7b36">JPMorgan apologizes for backing breakaway football Super League (Financial Times)</a></p><p><a href="https://www.wsj.com/articles/spac-surge-pumps-up-junk-bond-market-11619170201?mod=hp_lead_pos3">SPAC Surge Pumps Up Junk-Bond Market (WSJ)</a></p><p><a href="https://finance.yahoo.com/news/schwab-says-needs-regulatory-clarity-174659084.html">Schwab says needs regulatory clarity on crypto before any offerings (Reuters)</a></p><p><a href="https://www.businessinsider.com/bain-and-co-postpandemic-office-design-hot-desks-sanitation-stations-2021-4">Look at Bain &amp; Co.'s new socially distanced Austin office, the first that the firm will open since the pandemic started, complete with 'hot desks' and sanitation stations (Insider)</a></p><p><a href="https://www.businessinsider.com/warby-parker-hiring-ipo-lawyer-investor-relations-public-stock-spac-2021-4">Warby Parker is staffing up its corporate team with an eye towards 'public company readiness' (Insider)</a></p><p><a href="https://www.bloomberg.com/news/articles/2021-04-23/wall-street-s-trillion-dollar-esg-club-comes-with-huge-tax-perks?sref=5xrDvJna">Wall Street's Trillion-Dollar ESG Club Comes With Huge Tax Perks (Bloomberg)</a></p><p><a href="https://www.businessinsider.com/patent-lawsuits-trolls-moving-texas-waco-new-judge-big-tech-2021-4">One judge turned Waco, Texas into the go-to city for Big Tech patent lawsuits, with nearly 800 cases in the past year, and no end in sight (Insider)</a></p>

Insider finance: JPMorgan's tech overhaul plans

<p>Good morning and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. I'm Dan DeFrancesco, and here's what's on the agenda today:</p><ul><li>Banks are automating the process of selling new bonds, potentially <a href="https://www.businessinsider.com/automation-syndicate-banks-bonds-digital-software-issuenet-deals-jobs-bankers-2021-5">putting jobs at risk</a>. </li><li>The new battlefield for talent wars? <a href="https://www.businessinsider.com/talent-war-volatility-traders-hired-from-wall-street-investment-banks-2021-5">Equity derivatives traders</a>.</li><li>BlackRock is staffing up with new <a href="https://www.businessinsider.com/blackrock-hires-world-wildlife-fund-scientist-names-esg-focused-roles-2021-5">ESG executives</a>.</li></ul><p><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a></p><p>Like the <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>? Hate the newsletter? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>. </p><h3><a href="https://www.businessinsider.com/automation-syndicate-banks-bonds-digital-software-issuenet-deals-jobs-bankers-2021-5">Automation is transforming how new bonds get sold, and syndicate bankers worry they'll lose their jobs if they don't branch out</a></h3><p><a href="https://www.businessinsider.com/automation-syndicate-banks-bonds-digital-software-issuenet-deals-jobs-bankers-2021-5"><div type="image" title="A trader on the phone" height="2524" width="3365" msid="82454993" hostid="261"></div></a></p><p>As administrative tasks become automated, bankers are pairing their tech savvy with client-facing responsibilities in order to increase their value. </p><p><a href="https://www.businessinsider.com/automation-syndicate-banks-bonds-digital-software-issuenet-deals-jobs-bankers-2021-5">How bankers are fighting to stay relevant.</a></p><h3><a href="https://www.businessinsider.com/talent-war-volatility-traders-hired-from-wall-street-investment-banks-2021-5">A talent war has broken out for equity derivatives traders at Wall Street's top investment banks - here are the latest moves</a></h3><p><a href="https://www.businessinsider.com/talent-war-volatility-traders-hired-from-wall-street-investment-banks-2021-5"><div type="image" title="godzilla v kong" height="1139" width="1518" msid="82454996" hostid="261"></div></a></p><p><keyword id="42111" type="COMPANY" weightage="60" keywordseo="Wall-Street">Wall Street</keyword> equity-derivatives traders have become a hot commodity, and hedge funds and investment banks have been fighting to hire and retain them. <a href="https://www.businessinsider.com/talent-war-volatility-traders-hired-from-wall-street-investment-banks-2021-5">We compiled a list of recent hires and departures.</a></p><h3><a href="https://www.businessinsider.com/wealth-fortune-separation-divorce-laws-lawyers-bill-melinda-gates-settlement-2021-5">How the ultrarich avoid messy public divorce battles by keeping their disputes out of court</a></h3><p><a href="https://www.businessinsider.com/wealth-fortune-separation-divorce-laws-lawyers-bill-melinda-gates-settlement-2021-5"><div type="image" title="Bill and Melinda Gates" height="684" width="912" msid="82454997" hostid="261"></div></a></p><p>When it comes to divorces among wealthy couples, privacy and asset complexity are key challenges. We spoke with six divorce lawyers and experts, who explained how such couples <a href="https://www.businessinsider.com/wealth-fortune-separation-divorce-laws-lawyers-bill-melinda-gates-settlement-2021-5">can keep disputes out of the courts.</a></p><h3><a href="https://www.businessinsider.com/blackrock-hires-world-wildlife-fund-scientist-names-esg-focused-roles-2021-5">BlackRock just hired a climate scientist from the World Wildlife Fund in a top research role according to a memo naming new ESG executives</a></h3><h2><a href="https://www.businessinsider.com/blackrock-hires-world-wildlife-fund-scientist-names-esg-focused-roles-2021-5"><div type="image" title="larry fink" height="1871" width="2494" msid="82454999" hostid="261"></div></a></h2><p>The money manager also named a COO for its sustainability business and new leaders in the Asia-Pacific region. <a href="https://www.businessinsider.com/blackrock-hires-world-wildlife-fund-scientist-names-esg-focused-roles-2021-5">Read more about all the moves here</a>.</p><h3><a href="https://www.businessinsider.com/foxhill-capital-lawsuit-analyst-whistleblowing-insider-trading-allegations-claims-distress-2021-5">A former analyst at $200 million distress investing fund Foxhill Capital sues firm after claiming he was fired for whistleblowing on alleged insider trading</a></h3><h2><a href="https://www.businessinsider.com/foxhill-capital-lawsuit-analyst-whistleblowing-insider-trading-allegations-claims-distress-2021-5"><div type="image" title="trader praying" height="3744" width="4992" msid="82455005" hostid="261"></div></a></h2><p>The lawyer for Foxhill and the individual defendants said that they "fully complied with the law." <a href="https://www.businessinsider.com/foxhill-capital-lawsuit-analyst-whistleblowing-insider-trading-allegations-claims-distress-2021-5">Learn more here</a>.</p><h3><a href="https://www.businessinsider.com/stripe-businesses-payments-revenue-diversification-fintech-lending-investing-billing-issuing-2021-3">Here are 11 ways Stripe is looking to grow as the $95 billion fintech targets bigger customers with more complex needs</a></h3><p><a href="https://www.businessinsider.com/stripe-businesses-payments-revenue-diversification-fintech-lending-investing-billing-issuing-2021-3"><div type="image" title="Stripe Collison" height="3187" width="4250" msid="82455010" hostid="261"></div></a></p><p>The fintech recently announced plans to acquire TaxJar, a sales-tax software startup. Experts say Stripe's non-payments products may be an effort to diversify revenue before an IPO. <a href="https://www.businessinsider.com/stripe-businesses-payments-revenue-diversification-fintech-lending-investing-billing-issuing-2021-3">Here are 11 key offerings that Stripe is building out beyond payments.</a></p><h2><strong style="color: #222222; font-size: 15px;">Odd lots:</strong></h2><p><a href="https://www.fnlondon.com/articles/banks-forced-to-get-creative-in-frenzied-hiring-push-we-havent-seen-this-since-the-pre-crisis-boom-days-20210505">Banks forced to get creative in frenzied hiring push - 'We haven't seen this since the pre-crisis boom days' (Financial News)</a></p><p><a href="https://www.businessinsider.com/9-billion-tanium-announces-new-cfo-ipo-readiness-2021-5">$9 billion cybersecurity firm Tanium just announced its new CFO as it assesses whether it's ready to IPO (Insider)</a></p><p><a href="https://www.bloomberg.com/news/articles/2021-05-06/payday-lenders-didn-t-get-a-boost-from-the-pandemic-s-hard-times?srnd=premium&amp;sref=5xrDvJnavJna">Payday Lenders Didn't Get a Boost From the Pandemic's Hard Times (Bloomberg)</a></p>

Insider finance: Automation threatens bond bankers

<p>Good morning and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. I'm Dan DeFrancesco, and here's what's on the agenda today:</p><ul><li>Check out the top headhunters helping <keyword id="42111" type="COMPANY" weightage="60" keywordseo="Wall-Street">Wall Street</keyword> firms staff up with <a href="https://www.businessinsider.com/top-headhunters-that-specialize-in-wall-street-quant-recruiting-2021-4">quant and data-science specialists</a>.</li><li><a href="https://www.businessinsider.com/goldman-sachs-private-wealth-management-marcus-tech-generational-transfer-2021-4">Goldman Sachs' private wealth co-heads</a> detail their strategy for catering to the next generation of the ultra rich. </li><li>Here's how JPMorgan is starting to think through <a href="https://www.businessinsider.com/jpmorgan-nyc-headquarters-design-270-park-avenue-request-proposals-2021-4">plans for its new NYC headquarters</a>.</li></ul><p><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a></p><p>Like the <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>? Hate the newsletter? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>. </p><h3><a href="https://www.businessinsider.com/top-headhunters-that-specialize-in-wall-street-quant-recruiting-2021-4">The talent brokers of quant trading: The headhunters at the forefront of Wall Street's systematic-trading and data-science hiring frenzy</a></h3><p><a href="https://www.businessinsider.com/top-headhunters-that-specialize-in-wall-street-quant-recruiting-2021-4"><div type="image" title="wall street quant hedge fund recruiting 4x3 v2" height="1800" width="2401" msid="82161562" hostid="261"></div></a>Quant and data-science specialists are the lifeblood of many hedge funds, trading firms, market makers, and banks - and the market for them has never been hotter. As the war for talent heats up, we assembled a list of headhunters who specialize in the field.</p><p><a href="https://www.businessinsider.com/top-headhunters-that-specialize-in-wall-street-quant-recruiting-2021-4">Meet the talent brokers of Wall Street quant recruiting.</a></p><h3><a href="https://www.businessinsider.com/two-sigma-ventures-portfolio-companies-working-from-home-wfh-virtual-2021-4">4 portfolio companies backed by Two Sigma Ventures laid out the perks they're offering remote employees, like VR headsets and $10,000 budgets for tricking out their home offices</a></h3><p><a href="https://www.businessinsider.com/two-sigma-ventures-portfolio-companies-working-from-home-wfh-virtual-2021-4"><div type="image" title="Lindsay Gray Two Sigma Ventures.JPG" height="2800" width="3733" msid="82161563" hostid="261"></div></a>TSV is helping some of its portfolio companies make a permanent pivot to virtual work. See what these four portfolio companies are doing <a href="https://www.businessinsider.com/two-sigma-ventures-portfolio-companies-working-from-home-wfh-virtual-2021-4">as remote work becomes the new norm</a>. </p><h3><a href="https://www.businessinsider.com/goldman-sachs-private-wealth-management-marcus-tech-generational-transfer-2021-4">Goldman Sachs wants to hold onto its richest clients' kids. The bank's private wealth heads explain how its Marcus unit is helping them do that.</a></h3><p><a href="https://www.businessinsider.com/goldman-sachs-private-wealth-management-marcus-tech-generational-transfer-2021-4"><div type="image" title="Meena Flynn and John Mallory of Goldman Sachs" height="750" width="1000" msid="82161566" hostid="261"></div></a>With the world's largest-ever transfer of wealth between generations underway, Goldman is expanding its offerings and focusing on holding onto the next generation of its clients. We spoke with Meena Flynn and John Mallory, the bank's private wealth co-heads, who detailed their strategy for us. <a href="https://www.businessinsider.com/goldman-sachs-private-wealth-management-marcus-tech-generational-transfer-2021-4">Here's what they said.</a></p><h3><a href="https://www.businessinsider.com/inside-wall-street-quant-recruiting-2021-4">Inside the secretive world of Wall Street quant recruiting</a></h3><h2><a href="https://www.businessinsider.com/inside-wall-street-quant-recruiting-2021-4"><div type="image" title="Jane Street office 2" height="933" width="1244" msid="82161567" hostid="261"></div></a></h2><p>The trading firms that employ quant and data-science specialists are highly secretive, as are the recruiters they work with. So we spoke with more than two dozen recruiters about their competitive, stealthy field. <a href="https://www.businessinsider.com/inside-wall-street-quant-recruiting-2021-4">Take a look inside the world of Wall Street quant recruiting.</a></p><h3><a href="https://www.businessinsider.com/barclays-pulls-850-million-bond-alabama-prison-investors-financing-esg-2021-4">Barclays U-turn on an $850 million prison financing is a big victory for activist investors - here's why it keeps banks in check over controversial deals</a></h3><h2><a href="https://www.businessinsider.com/barclays-pulls-850-million-bond-alabama-prison-investors-financing-esg-2021-4"><div type="image" title="GettyImages 539590598 (1)" height="2200" width="2933" msid="82161568" hostid="261"></div></a></h2><p>Barclays dropped plans to raise $850 million for private-prison manager CoreCivic through Alabama after activists cited the bank's previous promise to not fund private prisons. <a href="https://www.businessinsider.com/barclays-pulls-850-million-bond-alabama-prison-investors-financing-esg-2021-4">Find out more here</a>.</p><h3><a href="https://www.businessinsider.com/wells-fargo-pays-analysts-associates-investment-bank-special-bonus-2021-4">Wells Fargo is paying its corporate and investment-banking analysts and associates special bonuses up to $20,000 spread across 6 months</a></h3><p><a href="https://www.businessinsider.com/wells-fargo-pays-analysts-associates-investment-bank-special-bonus-2021-4"><div type="image" title="Charles Scharf Wells Fargo" height="3068" width="4094" msid="82161570" hostid="261"></div></a></p><p>Wells Fargo Securities is the latest financial firm to give its young talent gifts after a grueling year handling significant deal volume while isolated at home. <a href="https://www.businessinsider.com/wells-fargo-pays-analysts-associates-investment-bank-special-bonus-2021-4">Read more here</a>.</p><h3> <a href="https://www.businessinsider.com/new-manager-castleknight-backed-david-tepper-big-debut-performance-2021-4">A new hedge fund, David Tepper-backed CastleKnight Management, has crushed its first 6 months of trading</a></h3><p><a href="https://www.businessinsider.com/new-manager-castleknight-backed-david-tepper-big-debut-performance-2021-4"><div type="image" title="David Tepper" height="1080" width="1440" msid="82161572" hostid="261"></div></a></p><p>CastleKnight Management, founded by Appaloosa partner Aaron Weitman and backed by billionaire David Tepper, has had a fantastic first six months. <a href="https://www.businessinsider.com/new-manager-castleknight-backed-david-tepper-big-debut-performance-2021-4">Get a rundown on its early returns</a>.</p><h3> <a href="https://www.businessinsider.com/hsbc-bank-hot-desk-hq-london-executive-floor-offices-2021-4">HSBC scraps individual offices for execs and tells them to 'hot desk' instead as part of its post-pandemic work plan</a></h3><p><a href="https://www.businessinsider.com/hsbc-bank-hot-desk-hq-london-executive-floor-offices-2021-4"><div type="image" title="HSBC's interim CEO Noel Quinn speaks during 2019 New Economy Forum at China Center for International Economic Exchanges (CCIEE) on November 22, 2019 in Beijing, China." height="2724" width="3631" msid="82161573" hostid="261"></div></a>HSBC executives no longer have their own offices. Instead, they're being asked to use "hot desks," or rotating workstations. <a href="https://www.businessinsider.com/hsbc-bank-hot-desk-hq-london-executive-floor-offices-2021-4">More on that here.</a></p><h3><a href="https://www.businessinsider.com/jpmorgan-nyc-headquarters-design-270-park-avenue-request-proposals-2021-4">We got a peek at JPMorgan's latest plans for its new NYC headquarters, which show clues about how the bank views the future of office work</a></h3><h2><a href="https://www.businessinsider.com/jpmorgan-nyc-headquarters-design-270-park-avenue-request-proposals-2021-4"><div type="image" title="JPMorgan CEO Jamie Dimon" height="683" width="910" msid="82161574" hostid="261"></div></a></h2><p>A document shared with Insider gives a glimpse into how the bank plans to forge ahead with its new NYC headquarters. <a href="https://www.businessinsider.com/jpmorgan-nyc-headquarters-design-270-park-avenue-request-proposals-2021-4">See more here</a>.</p><h2><strong style="color: #222222; font-size: 15px;">Odd lots:</strong></h2><p><a href="https://www.businessinsider.com/the-hottest-proptech-startups-and-industry-trends-analyzed-vcs-doma-2021-4">WATCH: Two VCs and a CEO taking his startup public break down the pandemic-driven proptech boom (Insider)</a></p><p><a href="https://www.wsj.com/articles/the-new-york-power-lunch-is-back-with-new-rules-11618766411">The New York Power Lunch Is Back, With New Rules (WSJ)</a></p><p><a href="https://www.wsj.com/articles/credit-suisse-prime-brokerage-co-heads-to-leave-bank-after-archegos-losses-11618847715">Credit Suisse Prime Brokerage Co-Heads to Leave Bank After Archegos Losses (WSJ)</a></p><p><a href="https://theorg.com/insights/nearly-half-of-shopifys-c-suite-exits?utm_campaign=NEWSLETTER%3A+4.19.21+Weekly+newsletter&amp;utm_content=4.19.21+Newsletter%3A+Shopify+loses+half+its+executive+suite%2C+and+more%21&amp;utm_medium=email_action&amp;utm_source=customer.io=customer.io">Nearly Half of Shopify's C-Suite to Exit (The Org)</a></p><p><a href="https://www.businessinsider.com/big-law-associate-bonus-hiring-spac-ma-kirkland-davis-polk-2021-4">Big Law firms are paying up to 6-figure signing bonuses in an 'unprecedented' scramble for junior talent (Insider)</a></p><p><a href="https://www.reuters.com/article/us-usa-banks-facialrecognition-insight-idUSKBN2C611P">U.S. banks deploy AI to monitor customers, workers amid tech backlash (Reuters)</a></p>

Insider finance: Quant trading talent wars

Cybersecurity in Finance

'Moderation in India's growth coincides with global situation'<p>New Delhi, Feb 10 () The moderation in India's growthcoincides with a deceleration in growth of global output andthe IMF has projected the country's GDP growth to pick up to5.8 per cent in 2020, Union Minister Anurag Thakur said in LokSabha.</p><p>Thakur said India's growth trajectory over the period2014-15 to 2018-19 is characterised by macroeconomic stabilitywith real GDP growth averaging 7.4 per cent.</p><p>"The moderation in India's growth coincides with adeceleration in growth of global output, as estimated by theIMF, in recent years," he said replying a question of CongressMP Abdul Khaleque and TMC's Saugata Roy during Question Hour.</p><p>Thakur, union minister of state for finance, said the IMFhas projected India's GDP growth to pick up to 5.8 per cent in2020.</p><p>The economic survey 2019-20 has also projected a pick-upin India's growth in the range of 6.0 per cent to 6.5 per centin 2020-21.</p><p>The RBI's sixth bi-monthly monetary policy statement,2019-20 has also projected GDP growth of 6.0 per cent for2020-21.</p><p>Thakur said as per the National Statistical Office'sfirst advance estimates of national income, 2019-20, India'sreal GDP is estimated to grow at 5.0 per cent in 2019-20.</p><p>He said the World Economic Outlook Update (January 2020)published by the International Monetary Fund (IMF) has revisedIndia's GDP growth rate to 4.8 per cent in 2019.</p><p>This revision in growth may not cause any stress in theNon-Banking Financial Companies (NBFCs) sector as NBFCs arewell capitalised, he said.</p><p>The minister said the government has implemented severalmajor structural reforms in recent years to bolster investmentand growth.</p><p>These include Insolvency and Bankruptcy Code (IBC) tostrengthen the financial system, Goods and Services Tax (GST)to simplify the indirect taxation regime, Make-in-Indiaprogramme to boost domestic manufacturing capacity,liberalisation of Foreign Direct Investment (FDI) and JanDhan-Aadhaar-Mobile (JAM) Trinity towards greatertransparency, efficiency and financial inclusion, he said.</p><p>Thakur also said recently, the corporate tax rate hasbeen cut to 15 per cent for new domestic manufacturingcompanies, which is amongst the lowest in the world.</p>In December 2019, he said, the government has announcedthe Rs 103 lakh crore National Infrastructure Pipeline whichwould significantly boost infrastructure and spur growthimpulses in the economy.  ACBDV   DV

LS-FINANCE

<p>An "aptonym" is a name that's perfectly suited for the person who has it. It's apt.</p>
<p>We've come up with the 11 best ones in the <keyword id="25455" type="ORGANIZATION" weightage="60" keywordseo="finance">finance</keyword> industry,</p>
<p><strong>ART CASHIN: DIRECTOR OF FLOOR OPERATIONS, UBS</strong></p>
<p><em>You can't have a better name of a veteran trader than "Cashin."<strong><br /></strong></em></p>
<p><strong></strong><div class="image-container" style="width:620px"><div class="image"><p class="source">AP Images</p></div></div></p>
<p><strong><br />HAMISH RISK: HEAD OF CONTENT MANAGEMENT, DEUTSCHE BANK</strong></p>
<p><em>If your last name is Risk, you have to work in finance. Hamish Risk made the right career move.<strong><br /></strong></em></p>
<p><strong><div class="image-container" style="width:620px"><div class="image"><p class="source"><a href="http://www.youtube.com/watch?v=J_HntG5Z908">YouTube/euromoneymag</a></p></div></div></strong></p>
<p><strong><br />JENS NORDVIG: MANAGING DIRECTOR OF CURRENCY RESEARCH, NOMURA</strong></p>
<p><em>Jens is of course pronounced "Yens" which is this close to one of the most important currencies in the world. Obviously Jens Nordvig is a perfect fit for this important job at Nomura.<strong><br /></strong></em></p>
<p><strong><div class="image-container" style="width:620px"><div class="image"><p class="source"><a href="http://www.youtube.com/watch?v=qNezi2WLew4">YouTube/PolicyExchangeUK</a></p></div></div></strong></p>
<p><strong><br />PANICOS DEMETRIADES: GOVERNOR, CENTRAL BANK OF CYPRUS</strong></p>
<p><em>Panicos, Cyprus. Too easy.</em><strong><br /></strong></p>
<p><strong><div class="image-container" style="width:620px"><div class="image"><p class="source">REUTERS/Yorgos Karahalis</p></div></div></strong></p>
<p><strong><br />RICH RICCI: HEAD OF INVESTMENT BANK, BARCLAYS </strong></p>
<p><em>Again, too perfect.<strong><br /></strong></em></p>
<p><strong><div class="image-container display-table"><div><div class="image"><p class="source">Reuters</p></div></div></div><br /></strong></p>
<p><strong><br />DAVID DOLLAR: <span>ECONOMIC AND FINANCIAL EMISSARY TO CHINA, <strong>U.S. TREASURY</strong></span></strong></p>
<p><em>What better name for someone who has to travel to China, during which currency policy issues inevitably come up?</em><strong><span><strong><br /></strong></span></strong></p>
<p><strong><div class="image-container" style="width:620px"><div class="image"><p class="source"><a href="http://bigthink.com/users/daviddollar">via BigThink.com</a></p></div></div></strong></p>
<p><strong><br />BART HEDGES: CEO, GREENLIGHT CAPITAL RE</strong></p>
<p><em>Greenlight Capital is the reinsurance operation of David Einhorn's hedge fund. This is doubly perfect since there's the hedge fund angle, and since reinsurance is all about hedging risk.</em><strong><br /></strong></p>
<p><strong><div class="image-container" style="width:610px"><div class="image"><p class="source"><a href="http://www.businessweek.com/videos/2012-10-31/hedges-not-storm-of-a-lifetime-for-reinsurance">Bloomberg TV screencap</a></p></div></div></strong></p>
<p><strong><br />NICHOLAS ECONOMIDES: PROFESSOR OF ECONOMICS, NEW YORK UNIVERSITY</strong></p>
<p><em>Economides, check.</em><strong><br /></strong></p>
<p><strong><div class="image-container" style="width:620px"><div class="image"><p class="source"><a href="http://www.youtube.com/watch?v=0HCUByGSpFc">YouTube/OIIOxford</a></p></div></div></strong></p>
<p><strong><br />LIBOR STRAKA: FORMER RATES TRADER, JPMORGAN</strong></p>
<p><em>LIBOR for a rates trader? Just beautiful.</em><strong><br /></strong></p>
<p><strong><div class="image-container" style="width:620px"><div class="image"><p class="source"><a href="http://www.linkedin.com/pub/libor-straka/3b/169/99">via LinkedIn</a></p></div></div><br /></strong></p>
<p><strong><br />ZAR AMROLIA: GLOBAL HEAD OF FOREIGN EXCHANGE, DEUTSCHE BANK</strong></p>
<p><em>We don't have a picture of Zar, but ZAR is the three-letter currency code for the South African Rand, which means that like Jens Nordvig he has a name perfectly suited for the area he covers.</em><strong><br /></strong></p>
<p><strong><div class="image-container" style="width:620px"><div class="image"><p class="source"><a href="http://en.wikipedia.org/wiki/File:SA_Bank_Note_2012_Specimen_image.png">Wikimedia Commons</a></p></div></div></strong></p>
<p><em><strong><br />Can you think of any more?</strong></em></p>
<p><strong><em>Add them in the comments please.</em><br /></strong></p>

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