<ul class="summary-list"><li>Special purpose acquisition company <keyword id="10688672" type="UNKNOWN" weightage="60" keywordseo="tuscan-holdings">Tuscan Holdings</keyword> will merge with EV battery maker <keyword id="8351061" type="UNKNOWN" weightage="60" keywordseo="Microvast">Microvast</keyword>.</li><li>The transaction leaves the company with a combined valuation of roughly $3 billion.</li><li>"In Microvast, we have found a disruptive technology company operating in a large, addressable market with a long runway of future growth," said Stephen Vogel, CEO of Tuscan.</li></ul><p>Tuscan Holdings soared over 50% on Monday after the special purpose acquisition company announced it will merge with EV battery maker Microvast.</p><p>The deal values the combined company at roughly $3 billion and will leave the entity with $822 million in gross cash proceeds.</p><p>That cash includes a $540 million investment led by Oshkosh, BlackRock, Koch Strategic Platforms, and InterPrivate Capital, <a href="https://www.businesswire.com/news/home/20210201005283/en/Microvast-a-Leading-Innovator-of-EV-Battery-Technologies-to-List-on-Nasdaq-Through-Merger-with-Tuscan-Holdings-Corp.">according to a statement</a>.</p><p>The new company will trade in the Nasdaq under the ticker symbol "MVST."</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/hedge-funds-data-reddit-tracking-wallstreetbets-tickers-gamestop-short-yolo-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">How hedge funds are tracking Reddit posts to protect their portfolios after the Wall Street Bets crowd helped tank Melvin Capital's short positions</a>.</em></p><p>Microvast provides next-generation <keyword id="168461" type="TECHNOLOGY" weightage="60" keywordseo="battery-technology">battery technology</keyword> for commercial and specialty electric vehicles. The company's batteries have been integrated into almost 30,000 vehicles to date, and its proprietary intellectual property portfolio includes more than 550 patents.</p><p>Tuscan holdings, led by Stephen Vogel, had originally been in the market to merge with a cannabis company, raising $276 million in March 2019 and going public with that intention. However, with the EV boom of late, many SPACs are trying to take advantage.</p><p>From <a href="https://www.businessinsider.com/palihapitiyas-biggest-investment-climate-change-arclight-clean-transition-merge-proterra-2021-1">Chamath Palihapitiya's Arclight-Proterra merger</a> to the potential <a href="https://markets.businessinsider.com/news/stocks/churchill-capital-corp-iv-stock-rockets-lucid-motors-merger-rally-2021-1-1029999782">Churchill Capital IV-Lucid Motors merger</a>, SPACs are finding worthwhile partners in EV companies.</p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/d1-capital-stung-amc-short-bet-reddit-traders-dan-sundheim-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noreferrer noopener">Hed</a><a href="https://www.businessinsider.com/d1-capital-stung-amc-short-bet-reddit-traders-dan-sundheim-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noreferrer noopener">ge fund phenom Dan Sundheim's D1 Capital has been stung by the AMC short bet caught up in Reddit's trading frenzy</a>.</em></p><p>"In Microvast, we have found a disruptive technology company operating in a large, addressable market with a long runway of future growth that has developed long-term competitive advantages and has established a multi-year track record of proving its capabilities," said Stephen Vogel, Chairman and CEO of Tuscan.</p><p>The deal with Microvast is expected to close sometime in the second quarter of 2021 and will see Mr. Yang Wu, CEO of Microvast, stay on to lead the combined team going forward.</p><p>One of the lead investors, InterPrivate Capital, who also managed a <keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword> recently signing a merger agreement with the Lidar company Aeva in November, said the combination would be ideal for Tuscan going forward.</p><p>"The Microvast team has not only developed cutting-edge battery technology that is highly attractive to its suite of market-leading customers and partners, generating over $100 million in 2020 revenue, but also operates a vertically integrated production process for its battery solutions that is unique in the industry, enabling both enhanced customer service and the opportunity to achieve excellent margins," said Ahmed Fattouh, CEO of InterPrivate Capital.</p><p>Shares of Tuscan Holdings traded up 53.77% at $24.08 as of Monday's close.</p>

Tuscan Holdings soars 53% after the blank-check company announces merger with battery maker Microvast

<img src="https://static-ssl.businessinsider.com/image/5e50548dfee23d0375712017-2200/2020-02-21t055543z1937223528rc2t4f9xa4g3rtrmadp3china-health-japan-ship.jpg" alt="diamond princess cruise ship coronavirus" /><p class="source"><span><a href="https://www.reutersconnect.com/all?id=tag%3Areuters.com%2C2020%3Anewsml_RC2T4F9XA4G3&amp;share=true">Kim Kyung-Hoon/Reuters</a></span></p><p class="caption">Workers in protective gear assist a passenger in a face mask after she leaves the coronavirus-hit cruise ship Diamond Princess at Daikoku Pier Cruise Terminal in Yokohama, south of Tokyo, Japan February 21, 2020.</p><ul class="summary-list"><li>Ken Griffin's Citadel, Larry Fink's BlackRock, and Daniel Sundheim's D1 Capital led the money managers are gaining from short positions on stocks hit hard by the coronavirus.</li><li>Citadel made millions on short positions on European airlines, while BlackRock had a big short on Carnival, which owns Princess Cruises.</li><li>The data on short positions was provided by German tracker Breakout Point for Business Insider.</li><li><a href="https://www.businessinsider.com/prime">Visit BI Prime for more stories</a>.</li></ul><p>What might end up being the worst week for stocks in over a decade hurt a little less for some asset managers.</p><p>BlackRock, Citadel, D1 Capital, and Adelphi Capital were all able to make millions on short positions of airlines, cruise companies, movie theaters, and malls - companies that were directly impacted by the public health crisis created by the quickly spreading coronavirus. </p><p>According to data from German tracker Breakout Point, BlackRock was the only holder of a short position greater 0.5% of the company's issued share capital - which European regulations require to be disclosed - of Carnival cruises. Carnival owns the Princess cruise line, which made headlines for the infected passengers in Japan. </p><p>The short taken out by Larry Fink's manager tallied up gains of roughly $75 million for the world's largest asset manager, according to Breakout Point. BlackRock declined to comment.</p><p>Ken Griffin's Citadel meanwhile loaded up on short positions on European airlines - the biggest on Lufthansa, which has fallen by roughly a fifth since last week. Other short positions from Citadel included Air France, EasyJet, Wizz Air, and SAS. Just the shorts on Lufthansa and Air France, Breakout Point estimates, generated more than $77 million in gains for Citadel. </p><p>Citadel has pared back its shorts on Wizz Air and SAS and collected profits there, filings show. </p><p>The economic impact of the coronavirus outbreak is expected to eventually impact nearly every industry and developed market, but some sectors have shown the effects quicker than others. Shopping and trips to the movies, for example, are hurt when people want to limit exposure to others. </p><p>Dan Sundheim's D1 Capital placed a large short position earlier in February against EPR Properties, which owns the real estate of hundreds of movie theaters, golf courses, ski resorts, and other "experiential" venues, as well as London-based Cineworld, which has seen its stock price fall by roughly a third since the start of the year. This week, the firm has cut down on its Cineworld short to bring in profits, but still maintains a bet against the company. </p><p>Adelphi Capital meanwhile has increased it short positions this month against three different European real-estate companies - two Dutch companies, Wereldhave NV and Eurocommercial Properties NV, and Hamburg-based Deutsche EuroShop AG - that run shopping malls. Eurocommercial Properties has a significant presence in Italy, where coronavirus has spread rapidly in recent days. </p><p>D1, Citadel, and Adelphi did not respond immediately to requests for comment. </p>            <h3>NOW WATCH: <a href="https://www.businessinsider.com/disney-parks-disneyland-world-expensive-exclusive-resort-walt-cinderella-2019-4">9 of the most exclusive Disney spots to visit, including the invite-only Cinderella Suite where Tom Cruise and Mariah Carey have stayed</a></h3>                    <iframe class="bijwplayerclass" src="https://content.jwplatform.com/players/hsO5Wlkr-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;"></iframe>            

Citadel, BlackRock, and D1 Capital are racking up hundreds of millions in gains as coronavirus fears tank airlines, cruises, and movie-theater stocks

<p>Hello, readers.</p><p>Happy Saturday, and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. Here's a rundown of the must-know stories from the past week.</p><ul><li>We mapped out more than 30 <a href="https://www.businessinsider.com/top-headhunters-that-specialize-in-wall-street-quant-recruiting-2021-4">top quant recruiters</a>.</li><li><a href="https://www.businessinsider.com/wells-fargo-pays-analysts-associates-investment-bank-special-bonus-2021-4">Wells Fargo</a> and UBS were the <a href="https://www.businessinsider.com/wall-street-responds-with-cash-bonuses-as-banker-burnout-mounts-2021-3">latest Wall Street firms</a> to roll out special bonuses for junior bankers.</li><li>Jamie Dimon said some JPMorgan employees will start <a href="https://www.businessinsider.com/jpmorgans-ceo-jamie-dimon-return-to-office-instagram-face-masks-2021-4">returning to offices</a> within weeks. </li><li>D1 Capital has been on a private-investing spree - here are <a href="https://www.businessinsider.com/d1-capital-private-investments-dan-sundheim-venture-spacs-2021">24 companies</a> it's backed in 2021.</li><li>How a $4.2 billion JPMorgan-backed soccer venture ended up a <a href="https://www.businessinsider.com/jp-morgan-apologizes-4-billion-loan-european-super-league-soccer-2021-4">giant mea culpa</a>.</li></ul><p>If this email was forwarded to you, <a href="https://newsletter.businessinsider.com/click/22653302.34602/aHR0cDovL25ld3NsZXR0ZXIuYnVzaW5lc3NpbnNpZGVyLmNvbS9qb2luLzRucC9pbnNpZGVyLWZpbmFuY2U_bnJfZW1haWxfcmVmZXJlcj0xJnV0bV9zb3VyY2U9U2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY29udGVudD1JbnNpZGVyJTIwRmluYW5jZQ/5cf970723f92a452082ea752B3f5606f6">sign up here</a> to get your daily dose of the stories dominating banking, business, and big deals.</p><hr /><h3><a href="https://www.businessinsider.com/jpmorgans-ceo-jamie-dimon-return-to-office-instagram-face-masks-2021-4">JPMorgan CEO Jamie Dimon expects the bank's employees will be back in the office 'within weeks' and maskless by October</a></h3><p>Jamie Dimon, the CEO of JPMorgan, said on Wednesday that he planned to tell employees to be back in the office within weeks, at least for a day or two. By September, he said, the plan is for half of his corporate workforce to be back full time, and he expects that employees will be maskless in the office by October. <a href="https://www.businessinsider.com/jpmorgans-ceo-jamie-dimon-return-to-office-instagram-face-masks-2021-4">Get the full story here.</a></p><hr /><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><div type="image" title="money" height="1059" width="2119" msid="82231902" hostid="261"></div><p>Wells Fargo Securities is offering corporate and investment-banking analysts and associates up to $20,000 in special bonuses. Meanwhile, UBS told junior bankers on Wednesday that it was adding a bonus for those promoted to associate.</p><p>They're the latest firms to reward junior bankers as Wall Street grapples with grueling workloads while working from home.</p><ul><li>Read more on the <a href="https://www.businessinsider.com/wells-fargo-pays-analysts-associates-investment-bank-special-bonus-2021-4">Wells Fargo</a> bonuses.</li><li>And <a href="https://www.businessinsider.com/wall-street-responds-with-cash-bonuses-as-banker-burnout-mounts-2021-3">here's a rundown</a> of all the special bonuses and raises announced in recent weeks.</li></ul><hr /><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><div type="image" title="wall street quant hedge fund recruiting 2x1" height="1200" width="2400" msid="82231904" hostid="261"></div><p>The market for quant and data-science specialists on Wall Street has perhaps never been hotter. They're the lifeblood of hedge funds, trading firms, market makers, and bank trading teams.</p><ul><li>Take an inside look at the <a href="https://www.businessinsider.com/inside-wall-street-quant-recruiting-2021-4">secretive world</a> of Wall Street quant recruiting.</li><li>See our <a href="https://www.businessinsider.com/top-headhunters-that-specialize-in-wall-street-quant-recruiting-2021-4">full list</a> of top headhunters.</li></ul><hr /><h3><a href="https://www.businessinsider.com/d1-capital-private-investments-dan-sundheim-venture-spacs-2021">$21 billion hedge fund D1 Capital has been on a private-investing spree. Here are 24 companies it's backed in 2021 - from unicorns like Squarespace to corporate-card startup Ramp.</a></h3><div type="image" title="Daniel Sundheim" height="2184" width="4368" msid="82231908" hostid="261"></div><p>Dan Sundheim's D1 Capital has made private investments in startups since its inception in 2018.</p><p>D1 has participated in funding rounds in hot sectors such as logistics, enterprise SaaS, and e-commerce. We listed <a href="https://www.businessinsider.com/d1-capital-private-investments-dan-sundheim-venture-spacs-2021">all the private investments</a> it's disclosed publicly in 2021.</p><hr /><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><div type="image" title="European Super League" height="2630" width="5260" msid="82231909" hostid="261"></div><p>The European Super League, a breakaway soccer competition, came and went in less than a week. JPMorgan lent $4.2 billion to support the initiative, only to call it a misjudgment on Friday. <a href="https://www.businessinsider.com/jp-morgan-apologizes-4-billion-loan-european-super-league-soccer-2021-4">Get the play-by-play here.</a></p><hr /><h2>Wall Street people moves roundup </h2><ul><li>JPMorgan named <a href="https://www.businessinsider.com/jpmorgan-hired-eisar-lipkovitz-cio-tech-corporate-investment-banking-lyft-2021-4">Eisar Lipkovitz</a> the new CIO of its corporate and investment bank.</li><li>Tudor Investment's CTO, <a href="https://www.businessinsider.com/tudor-cto-miriam-roiter-retiring-after-25-years-hedge-fund-2021-4">Miriam Roiter</a>, is retiring after 25 years building technology at the $9 billion hedge fund.</li><li>Adam Parker's Center Lake Capital has lost its <a href="https://www.businessinsider.com/center-lake-adam-parker-analyst-departures-q1-performance-2021-4">top two analysts</a> over the past month.</li><li><a href="https://www.businessinsider.com/wall-street-hires-and-exits-wells-fargo-credit-suisse-citi-2021-4">Read our full rundown here</a>. </li></ul><hr /><h2>Other stories readers loved this week</h2><ul><li>The US economy is barreling toward a boom - and it's going to be <a href="https://www.businessinsider.com/us-economy-barreling-toward-biggest-boom-since-1984-2021-4">bigger, faster, and weirder</a> than you expect</li><li>Goldman Sachs wants to hold on to its <a href="https://www.businessinsider.com/goldman-sachs-private-wealth-management-marcus-tech-generational-transfer-2021-4">richest clients'</a> kids.</li><li>The $6 trillion family-office industry is <a href="https://www.businessinsider.com/family-office-insiders-brace-for-regulation-after-archegos-lobbying-sec-2021-4">gearing up</a> its lobbying machine.</li><li>13 <a href="https://www.businessinsider.com/docusign-power-players-legal-tech-contracts-ipo-growth-2021-4">power players</a> supercharging growth at DocuSign, the e-contracts company on an M&amp;A streak.</li><li>AQR has <a href="https://www.businessinsider.com/cliff-asness-aqr-redemptions-since-2018-performance-q1-quants-2021-4">lost more than a third</a> of its assets since the end of 2017.</li></ul>

Top quant recruiters - D1's startup spree - New round of banker bonuses

<p>Happy Saturday, and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. Here's a rundown of the must-know stories from the past week:</p><ul><li>Wells Fargo is experiencing an exodus of some of its top mortgage bankers. <a href="https://newsletter.businessinsider.com/click/23826200.41373/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS93ZWxscy1mYXJnby10b3AtbW9ydGdhZ2UtcHJvZHVjZXJzLWxlYXZpbmctZHJvdmVzLWhvdXNpbmctbWFya2V0LTIwMjEtNT9ucl9lbWFpbF9yZWZlcmVyPTEmdXRtX3NvdXJjZT1TYWlsdGhydSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jb250ZW50PUluc2lkZXIlMjBGaW5hbmNl/5f0083e24ca61141a63c9532B613e50b9" target="_blank" rel="noopener">Insiders detail why</a>. </li><li>Money managers are <a href="https://newsletter.businessinsider.com/click/23838465.59537/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9hc3NldC1tYW5hZ2Vycy13YWxsLXN0cmVldC1jcnlwdG9jdXJyZW5jeS1kaWdpdGFsLWFzc2V0cy1oaXJpbmctdHJlbmRzLXJlY3VpdGluZy0yMDIxLTU_bnJfZW1haWxfcmVmZXJlcj0xJnV0bV9zb3VyY2U9U2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY29udGVudD1JbnNpZGVyJTIwRmluYW5jZQ/5f0083e24ca61141a63c9532Bd5b0f8b4" target="_blank" rel="noopener">on the hunt for crypto talent</a> as digital assets go mainstream.  </li><li>Blackstone has set a date for when it wants employees <a href="https://newsletter.businessinsider.com/click/23803140.42637/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9ibGFja3N0b25lLXBsYW5uaW5nLWJhY2stdG8tb2ZmaWNlLW9uLWp1bmUtNy1qb24tZ3JheS0yMDIxLTU_bnJfZW1haWxfcmVmZXJlcj0xJnV0bV9zb3VyY2U9U2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY29udGVudD1JbnNpZGVyJTIwRmluYW5jZQ/5f0083e24ca61141a63c9532B2b9bb159" target="_blank" rel="noopener">back at their office desks</a>. </li><li>Marc Lipschultz, Owl Rock's cofounder, details how its merger with <a href="https://newsletter.businessinsider.com/click/23838465.59537/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9ibHVlLW93bC1yb2NrLWR5YWwtc3BhYy1tZXJnZXItZGVhbHMtcHJpdmF0ZS1jcmVkaXQtYXRhYy0yMDIxLTU_bnJfZW1haWxfcmVmZXJlcj0xJnV0bV9zb3VyY2U9U2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY29udGVudD1JbnNpZGVyJTIwRmluYW5jZQ/5f0083e24ca61141a63c9532Bceef6bce">Dyal Capital</a><a href="https://newsletter.businessinsider.com/click/23838465.59537/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9ibHVlLW93bC1yb2NrLWR5YWwtc3BhYy1tZXJnZXItZGVhbHMtcHJpdmF0ZS1jcmVkaXQtYXRhYy0yMDIxLTU_bnJfZW1haWxfcmVmZXJlcj0xJnV0bV9zb3VyY2U9U2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY29udGVudD1JbnNpZGVyJTIwRmluYW5jZQ/5f0083e24ca61141a63c9532Bceef6bce"></a> could help it rival banks.</li><li>Wall Street may be <a href="https://newsletter.businessinsider.com/click/23803140.42637/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9iYW5rZXJzLWJhY2stdG8tb2ZmaWNlLWF0dGlyZS1zdWl0cy1idXNpbmVzcy1jYXN1YWwtdGFpbG9yLXRyZW5kcy0yMDIxLTU_bnJfZW1haWxfcmVmZXJlcj0xJnV0bV9zb3VyY2U9U2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY29udGVudD1JbnNpZGVyJTIwRmluYW5jZQ/5f0083e24ca61141a63c9532B1af3fbe1" target="_blank" rel="noopener">sporting a new look</a> as bankers stock up on more comfortable work clothes. </li><li>D1's Dan Sundheim is switching up his <a href="https://www.businessinsider.com/d1-dan-sundheim-reddit-gamestop-frenzy-short-strategy-2021-5?nr_email_referer=1&amp;utm_source=Sailthru&amp;utm_medium=email&amp;utm_content=Insider%20Finance&amp;utm_campaign=Post%20Blast%20clusterstock:%20Wells%20Fargo%27s%20mortgage%20banker%20exodus%20%E2%80%94%20SEC%27s%20Peirce%20on%20Bitcoin%20ETF%20%E2%80%94%20SPACs%27%20regulatory%20risk&amp;utm_term=INSIDER%20FINANCE%20-%20ENGAGED%2C%20ACTIVE%2C%20PASSIVE%2C%20DISENGAGED%2C%20NEW0DISENGAGED%2C%20NEW">shorting strategy</a> after being hit by January's WallStreetBets frenzy.</li></ul><p>If this email was forwarded to you, <a href="https://newsletter.businessinsider.com/click/22653302.34602/aHR0cDovL25ld3NsZXR0ZXIuYnVzaW5lc3NpbnNpZGVyLmNvbS9qb2luLzRucC9pbnNpZGVyLWZpbmFuY2U_bnJfZW1haWxfcmVmZXJlcj0xJnV0bV9zb3VyY2U9U2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY29udGVudD1JbnNpZGVyJTIwRmluYW5jZQ/5cf970723f92a452082ea752B3f5606f6">sign up here</a> to get your daily dose of the stories dominating banking, business, and big deals.</p><hr /><h2><a href="https://www.businessinsider.com/wells-fargo-top-mortgage-producers-leaving-droves-housing-market-2021-5">Micromanagement, surprise employee investigations, and email surveillance: Why top mortgage bankers are quitting Wells Fargo in the middle of a red-hot housing market</a></h2><h2></h2><p>More than 20 top mortgage lenders at Wells Fargo have left in the past year. <a href="https://www.businessinsider.com/wells-fargo-top-mortgage-producers-leaving-droves-housing-market-2021-5">Insider has the details</a> on the heavy oversight culture and clunky technology that led to the exits.</p><hr /><h2><a href="https://www.businessinsider.com/blackstone-planning-back-to-office-on-june-7-jon-gray-2021-5">Blackstone just told US investment professionals to report to the office, and the private-equity giant has spent $20 million on safety precautions such as paying for cabs to work</a></h2><div type="image" title="Jonathan Gray" height="1333" width="1777" msid="82658597" hostid="261"></div>Blackstone is planning a full return to the office on June 7, President Jon Gray said on an internal Monday-morning call. <a href="https://www.businessinsider.com/blackstone-planning-back-to-office-on-june-7-jon-gray-2021-5">See all the details here</a>.<a href="https://www.businessinsider.com/rbc-guggenheim-announce-new-raises-protected-weekends-junior-investment-bankers-2021-5"></a><hr /><h2><a href="https://www.businessinsider.com/asset-managers-wall-street-cryptocurrency-digital-assets-hiring-trends-recuiting-2021-5">The crypto talent war is heating up as big money managers warm to digital assets</a></h2><div type="image" title="GettyImages 942027334" height="2362" width="4724" msid="82658602" hostid="261"></div><p>Recruiters are seeing an uptick in searches for crypto roles as legacy firms such as Morgan Stanley and UBS wade into the space. Here's how the <a href="https://www.businessinsider.com/asset-managers-wall-street-cryptocurrency-digital-assets-hiring-trends-recuiting-2021-5">battle for talent</a> in the emerging industry is shaping up. </p><p>For more on digital assets:</p><ul><li>Here's how asset managers are addressing <a href="https://newsletter.businessinsider.com/click/23792325.35857/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9maWRlbGl0eS1ibGFja3JvY2stY3J5cHRvLWVudmlyb25tZW50YWwtZXNnLWNvbmNlcm5zLWludmVzdGluZy1hc3NldC1tYW5hZ2Vycy0yMDIxLTU_bnJfZW1haWxfcmVmZXJlcj0xJnV0bV9zb3VyY2U9U2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY29udGVudD1JbnNpZGVyJTIwRmluYW5jZQ/5f0083e24ca61141a63c9532Eef45225b">big investors' concerns</a> about crypto's massive carbon-emission conflict.</li><li>SEC Commissioner Hester Peirce said the agency created an <a href="https://www.businessinsider.com/sec-commissioner-peirce-crypto-market-regulation-bitcoin-etf-2021-5">'investor protection problem'</a> by not approving a bitcoin ETF.</li></ul><hr /><h2><a href="https://www.businessinsider.com/bankers-back-to-office-attire-suits-business-casual-tailor-trends-2021-5">This summer, Wall Street is getting comfortable and colorful - and everyone wants something stretchy to wear when they go back to the office</a></h2><div type="image" title="mens suits sags thumb" height="600" width="1200" msid="82658604" hostid="261"></div><p>Wall Streeters are set to redefine office attire, whether they're seeking out color and patterns to show off their personality at work or opting for something a bit more comfortable. Here's what bankers are <a href="https://www.businessinsider.com/bankers-back-to-office-attire-suits-business-casual-tailor-trends-2021-5">stocking up on</a>. </p><hr /><h2><a href="https://www.businessinsider.com/carlyle-ceo-compensation-bonuses-leadership-diversity-equity-inclusion-dei-award-2021-5">Carlyle is tying employee bonuses and CEO comp to successfully meeting goals around diversity, equity, and inclusion at the PE giant</a></h2><div type="image" title="Kara Helander, the Carlyle Group" height="2105" width="2800" msid="82658605" hostid="261"></div><p>The Carlyle Group plans to recognize employees who are advancing the firm's goals advocating for diversity, equity, and inclusion with monetary incentives. Kara Helander, Carlyle's chief inclusion and diversity officer, <a href="https://www.businessinsider.com/carlyle-ceo-compensation-bonuses-leadership-diversity-equity-inclusion-dei-award-2021-5">told Insider why</a>.</p><hr /><h2><a href="https://www.businessinsider.com/blue-owl-rock-dyal-spac-merger-deals-private-credit-atac-2021-5">Blue Owl is taking on big banks in funding tech buyouts. The president of the business created by the Dyal-Owl Rock SPAC deal shares how he plans to become 'a lender of first choice.'</a></h2><div type="image" title="Blue Owl leadership" height="1000" width="2000" msid="82658609" hostid="261"></div><p>Owl Rock and Dyal Capital's Blue Owl SPAC merger is nearing completion. Here's how the new company is targeting <a href="https://www.businessinsider.com/blue-owl-rock-dyal-spac-merger-deals-private-credit-atac-2021-5">further growth</a> in private lending.</p><hr /><h2><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 on to young talent</a></h2><div type="image" title="headhunters and recruiters sourcing talent for wall street 2x1" height="1200" width="2400" msid="82658611" hostid="261"></div><p>Two investment banks are joining the bevy of financial-services firms rolling out special perks and raises to hang on to junior talent. <a href="https://www.businessinsider.com/rbc-guggenheim-announce-new-raises-protected-weekends-junior-investment-bankers-2021-5">Here are all the details</a>.</p><hr /><h2>Wall Street people moves</h2><ul><li>Deutsche Bank nabbed a <a href="https://www.businessinsider.com/deutsche-bank-hires-former-morgan-stanley-banker-richard-robinson-industrials-2021-5">21-year veteran</a> of Morgan Stanley for its global industrials group.</li><li>See our full rundown of <a href="https://www.businessinsider.com/wall-street-hires-and-exits-jpmorgan-barclays-blackrock-deutsche-bank-2021-5">hires, promotions, and exits here</a>.</li></ul><hr /><h2>Other stories readers loved this week</h2><ul><li>Public.com is offering up <a href="https://www.businessinsider.com/public-social-investing-app-launches-spac-informational-page-fintech-2021-5">SPAC-specific data</a> to users. The $1.2 billion fintech's COO explains why it's trying to simplify complex blank-check deals for investors.</li><li>Rising-star equity analysts give their <a href="https://www.businessinsider.com/equity-analysts-top-stock-picks-rising-stars-high-conviction-calls-2021-5">18 favorite stock picks</a> of the moment, and explain why they recommend buying each one.</li><li>Citigroup is zeroing in on clients moving toward clean energy in what a senior banker described as a <a href="https://www.businessinsider.com/citigroup-clean-energy-transition-investment-banking-natural-resources-sandip-sen-2021-5">"super-mega trend."</a></li><li>A rising star at the $8.8 billion Perceptive Advisors breaks down why the biotech hedge fund is <a href="https://www.businessinsider.com/perceptive-advisors-ellen-hukkelhoven-bridgebio-bbio-stake-hedge-fund-2021-5">so bullish</a> on BridgeBio.</li><li>NBA star C.J. McCollum is <a href="https://www.businessinsider.com/portland-trail-blazers-cj-mccollum-athlete-investing-nba-salary-advice-2021-5">shooting for billionaire status</a>. He told us how he invests and whom he calls for advice.</li></ul>

Wells Fargo's mortgage banker exodus - Wall Street's return to office - Crypto talent war

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5a32eb514aa6b5bc198b4ea4-1980/rtr2omus.jpg" alt="space shuttle" data-mce-source="Scott Audette/Reuters" data-mce-caption="The space shuttle Atlantis STS-135 lifts off from launch pad  at the Kennedy Space Center." /><p class="source"><span>Scott Audette/Reuters</span></p><p class="caption">The space shuttle Atlantis STS-135 lifts off from launch pad  at the Kennedy Space Center.</p></div><p></p></div></div></p><ul><li><strong>Dan Sundheim, the former chief investment officer at Viking Global, is launching a new fund in 2018.</strong></li><li><strong>It's still early days, but hedge fund insiders say the fund launch could be one of the biggest in recent history.</strong></li></ul><hr /><p><br />Dan Sundheim, the former chief investment officer at Viking Global Investors, is expected to launch a hedge fund next year. And we keep hearing the fund launch is going to be one of the biggest in recent history. </p><p>It has previously been reported that the fund, a long-short equity fund called D1 Capital, could raise more than $1 billion when it launches next year. But according to multiple people in the hedge fund world that Business Insider spoke with, the fund could raise multiple billions, with one person putting the figure at $4 billion to $5 billion on day one. </p><p>Hedge-fund investors and others familiar with the launch told Business Insider they expect Sundheim to raise multiple billions of dollars, with the lowest estimate $2 billion. The fund is expected to include a significant amount of Sundheim's personal capital, some of the people said.</p><p>That range of $2 billion to $5 billion would make it one of the biggest fund launches next year, and comes at a time when most launches struggle to raise more than $1 billion.</p><p>To be clear, the fund isn't yet formally being marketed, according to people familiar with the matter. The situation is fluid and could change, said one of the people, asking not to be identified discussing private matters.</p><p>Jonathan Gasthalter, a spokesman for Sundheim, declined to comment.</p><p>But there's reason to believe the fund could be one of the biggest in recent memory. Sundheim is said to have had a strong track record at Viking, and his new fund is expected to attract money from previous Viking investors. Earlier this year, Viking said it would return about $8 billion in assets to clients.</p><p><span>The start-up has hired Eton Park CFO Tony Fox alongside Michael Lean, the former head of equity research at Hong Kong-based</span><span> investment group CLSA, <a href="https://www.google.com/search?q=hfm+week+sundheim&amp;oq=hfm+week+sundheim&amp;aqs=chrome..69i57j69i60j0j69i60l2j0.2130j0j7&amp;sourceid=chrome&amp;ie=UTF-8">HFM Week reported</a>. D1 Capital has also rented out a 32,300 square-foot office at 9 West 57th Street with a 15-year lease, according to a <a href="http://www.shearman.com/en/newsinsights/news/2017/11/solow-realty-on-strategic-new-full-floor-lease">press release</a>.</span></p><p>Other highly anticipated launches for next year include Steve Cohen's <a href="http://www.businessinsider.com/steve-cohen-hedge-fund-said-to-send-pitch-documents-to-investors-2017-9">Stamford Harbor, which is targeting close to $2 billion</a>, and former Millennium <a href="http://www.businessinsider.com/michael-gelband-millennium-fund-launch-2017-4">bond chief Michael Gelband's fund</a>. Ex-GLG and Moore manager <a href="http://www.businessinsider.com/ex-glg-moore-capital-greg-coffey-prepares-hedge-fund-launch-2017-12">Greg Coffey is also prepping a fund</a>.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/best-response-to-jamie-dimon-calling-bitcoin-a-fraud-2017-11">This is one of the best responses to Jamie Dimon calling bitcoin a fraud that we have heard so far</a></h3>        <div>            <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/MJEbtjtu-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script>        </div>    </div>

The hedge fund world is talking about a huge new fund from the former CIO at Viking

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5b4e5015e121fe29008b45a9-2400/ap060804010324.jpg" border="0" alt="Walmart streaming service" data-mce-source="Steve Helber/AP" data-link="http://www.apimages.com/metadata/Index/AP-A-VA-USA-TAX-HOLIDAY/079047f1c723db11af9f0014c2589dfb/128/0" /><p class="source"><span><a href="http://www.apimages.com/metadata/Index/AP-A-VA-USA-TAX-HOLIDAY/079047f1c723db11af9f0014c2589dfb/128/0">Steve Helber/AP</a></span></p></div><p></p></div></div></p><ul><li><strong>The chief technology and information of $41 billion Fortress Investment Group is leaving the firm. </strong></li><li><strong>Hylton Socher, a long-time exec at Fortress, is starting his own investment management firm that'll focus on data and machine learning. </strong></li></ul><hr /><p>Hylton Socher, the chief technology and information officer of Fortress Investment Group, the $41 billion hedge fund, is leaving the fund to start his own venture, Business Insider has learned. </p><p>Socher, whose career at Fortress spans a decade, fell down the rabbit hole of big data and other new-wave technologies sweeping Wall Street, he said in an interview. </p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5b5b688f2154a342008b46c2-517/screen shot 2018-07-27 at 24559 pm.png" border="0" alt="Screen Shot 2018 07 27 at 2.45.59 PM" style="color: #000000;" data-mce-source="LinkedIn" /><p class="source"><span>LinkedIn</span></p></div><p></p></div></div>Socher's firm, which he expects to be up-and-running by the first quarter of 2019, will focus on algorithmic trading leveraging artificial intelligence and machine learning. He's calling it <span>VaraQuest, which stands for valuable relationship awareness.</span></p><p>"I will be looking to take huge amounts of data, and connecting them, and then squeeze alpha out of that," Socher said. "The example everyone knows: watching the traffic in the Walmart parking lot to see where the stock will go ... you want to look at those non-obvious connections." </p><p>He's now in the early stages of getting the firm off the ground, he said, without giving specifics about the size or structure of the fund.  </p><p>Socher, who joined Fortress in March 2008, previously served as chief information officer of trading firm Susquehanna International Group. </p><p>Socher's fund would join a string of other high profile hedge fund launches this year, including those<span> from </span><a href="https://www.businessinsider.com/steve-cohens-point72-hedge-fund-amasses-3-billion-closing-to-investors-2018-1">billionaire Steve Cohen<span> </span></a><span>, </span><a href="http://www.businessinsider.com/michael-gelband-millennium-fund-launch-2017-4">ex-Millennium head Mike Gelband<span> </span></a><span>and former Viking Global </span><a href="http://www.businessinsider.com/dan-sundheims-d1-capital-hedge-fund-is-expected-to-raise-billions-2017-12">chief investment officer Dan Sundheim<span> </span></a><span>.</span></p><p><span>See also:<br /></span><span></span></p><section><ul><li><a href="https://www.businessinsider.com/bitcoin-king-novogratz-invests-in-crypto-lender-2018-7">Bitcoin king Mike Novogratz leads $52 million investment in crypto-lending startup</a><a href="https://www.businessinsider.com/hedge-funds-being-lured-by-coinbase"></a></li><li><a href="https://www.businessinsider.com/hedge-funds-being-lured-by-coinbase">Coinbase has lured a $20 billion hedge fund onto its platform, but experts say the firm could run into trouble down the road</a></li></ul></section>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/what-many-people-get-wrong-about-bitcoin-2018-7">An early bitcoin investor explains what most people get wrong about the cryptocurrency</a></h3>        <div>            <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/3mPyEpI2-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script>        </div>    </div>

A tech executive at $41 billion Fortress is leaving to start his own data-focused fund

<p><em>Hello, and welcome to this Wednesday's edition of the Insider Tech newsletter, where we break down the biggest news in tech.</em></p><h3><a href="http://newsletter.businessinsider.com/join/4np/insider-tech">To get the Insider Tech newsletter delivered straight to your inbox, subscribe here </a></h3><h2>This week: 449 pages of scary bedtime reading for Zuck, Bezos, Sundar and Tim Cook</h2><p><a href="https://www.businessinsider.com/house-democrats-facebook-google-apple-amazon-are-monopolies-antitrust-report-2020-10"></a></p><p>At approximately 4 p.m. Pacific Time on Tuesday, the US House of Representatives <keyword id="21588" type="COMPANY" weightage="60" keywordseo="Antitrust">antitrust</keyword> subcommittee dropped <a href="https://www.businessinsider.com/house-democrats-facebook-google-apple-amazon-are-monopolies-antitrust-report-2020-10">a 449-page depth charge on the tech industry</a>. The report was not unexpected — it's the product of a 16-month investigation and a <a href="https://www.businessinsider.com/watch-live-congress-big-tech-antitrust-apple-google-facebook-amazon-2020-7">public hearing with all the CEOs in July </a>— but its release instantly was still a bombshell in the world of tech.</p><p>Referring to <keyword id="6355629" type="DEFINITION" weightage="60" keywordseo="google">Google</keyword>, <keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword>, <keyword id="6354427" type="ORGANIZATION" weightage="60" keywordseo="apple">Apple</keyword>, and <keyword id="6354576" type="UNKNOWN" weightage="60" keywordseo="facebook">Facebook</keyword> as "the kinds of monopolies we last saw in the era of oil barons and railroad tycoons," the legislators declared a "clear and compelling need" for immediate antitrust enforcement to restore competition. </p><p>Tech's Big Four, as you would expect, <a href="https://www.businessinsider.com/tech-reactions-antitrust-report-2020-10">came out swinging against the Congressional report.</a></p><p>The big question now is are any of the companies at immediate risk of being split up?</p><p>The report doesn't explicitly call for specific companies or businesses to be broken up, but it doesn't require too much imagination to see where the targets are among the reports' recommended remedies, such as:</p><p><strong>"Structural separations and prohibitions of certain dominant platforms from operating in adjacent lines of business."</strong></p><ul><li>The word "adjacent" can mean a lot of things, and Big Tech companies offer plenty of examples of different types of adjacent lines of business. Consider Google and Apple parlaying their dominance of mobile software <a href="https://www.businessinsider.com/google-fined-by-eu-android-2018-7">into mapping apps</a>, or Amazon using consumer shopping data from gleaned through its online market <a href="https://www.businessinsider.com/amazon-third-party-sellers-data-create-competing-private-label-products-2020-4">to identify types of clothing and other products to produce with its own private label brands</a>.</li></ul><p><strong>"Prohibiting dominant platforms from engaging in self-preferencing."</strong></p><ul><li>Think of the longstanding claims that Google's search engine gives preferential treatment to its own reviews and products over those of rivals, or the ongoing app store fees battle between <a href="https://www.businessinsider.com/fortnite-epic-games-apple-lawsuit-explained-2020-8">Apple and Fortnite maker Epic Games.</a></li></ul><p>With an election less than a month away, <a href="https://www.businessinsider.com/house-democrats-facebook-google-apple-amazon-are-monopolies-antitrust-report-2020-10">Tuesday's antitrust report</a> isn't likely to result in any immediate action from Congress. And as many have noted, the Democrats and Republicans <a href="https://www.businessinsider.com/republicans-hijack-antitrust-hearing-facebook-google-amazon-conservative-bias-2020-7">have very different ideas</a> about what needs to be fixed in tech. But as tech companies face increasing pushback from the public and from regulators in the US and overseas, the House report is a detailed blueprint for reducing the power and reach of tech's four giants — and it's likely to be widely read in the coming years.</p><h2>Police blotter, tech edition</h2><div type="image" title="gringo john mcafee showtime" height="842" width="1180" msid="78539635" hostid="261"></div><p><strong><keyword id="1450154" type="PERSON" weightage="60" keywordseo="John-McAfee">John McAfee</keyword></strong>, the founder of the software cybersecurity company of the same name, <a href="https://www.businessinsider.com/antivirus-executive-john-mcafee-indicted-federal-charges-tax-evasion-2020-10">was arrested in Spain this week on tax evasion charges</a>. The arrest is the latest chapter in the <a href="https://www.businessinsider.com/the-crazy-life-of-john-mcafee">tech entrepreneur's bizarre life story</a> which has included <a href="https://www.businessinsider.com/john-mcafee-documentary-gringo-belize-murder-allegations-2016-9">fleeing Belize</a> after being named a "person of interest" in the still-unsolved murder of his neighbor, getting detained in the Dominican Republic for carrying weapons on his yacht, and a brief, unsuccessful campaign to become the Libertarian party's presidential candidate in the 2016 US elections.</p><ul><li>Note that McAfee the person has not been involved with McAfee the company for decades. But the timing of his indictment couldn't be worse for McAfee Corp, which just filed the paperwork for an IPO. The company's S-1 filed on September 28 makes no mention of its founder. But don't be surprised if you see an updated version of the S-1 with an entertaining "Risk Factor" explicitly disavowing any connection to the company's eccentric namesake.</li></ul><p><strong>A former Amazon employee</strong> was <a href="https://www.businessinsider.com/amazon-employee-arrested-charged-with-issuing-96500-in-fake-refunds-2020-10">arrested and charged with fraud involving nearly $100,000 in "false refunds."</a> According to the criminal complaint, Vu Anh Nguyen, who worked as an Amazon selling-support associate in Tempe, Arizona, used fake buyer accounts to purchase expensive electronics and then issued refunds which he funneled to himself and his associates.</p><ul><li>That's a different case, by the way, than the recent indictment of <a href="https://www.reuters.com/article/us-amazon-com-indictments/u-s-justice-department-indicts-six-with-conspiracy-to-pay-bribes-to-amazon-employees-idUSKBN2692SE">six people, including two former Amazon employees, on allegations of bribery</a>.</li><li>It's also separate from the<a href="https://www.businessinsider.com/sec-former-amazon-employee-laksha-bohra-viky-insider-trading-allegations-2020-9"> former Amazon manager charged last month by the SEC with insider trading</a> that allegedly netted the defendant and her family $1.4 million.</li></ul><h2>Snapshot: <a href="https://www.businessinsider.com/cole-haan-teams-up-with-slack-limited-edition-shoe-collection-2020-10">Slack's new work-from-home sneaker</a></h2><p>As we embrace the new work-from-home lifestyle, we need to adjust our wardrobe. So it's fitting that <keyword id="1815769" type="PERSON" weightage="60" keywordseo="slack">Slack</keyword>, the workplace collaboration tool, has stepped forward with a special sneaker for the days of lockdowns.</p><p><a href="https://www.businessinsider.com/cole-haan-teams-up-with-slack-limited-edition-shoe-collection-2020-10">The limited-edition "Generation Zerøgrand" shoe is a collab between Cole Haan and Slack</a>, inspired by "the pandemic-related rise of remote working."  The $120 sneakers, which feature the Slack logo and are available in Slack's four signature colors, were apparently designed entirely through communications conducted over Slack. </p><p>I'm not quite sure what makes an ideal shoe for the rigors of working-from-home (personally, I haven't worn any kind of footwear since March), but there's no doubt that Slack just raised the stakes in the competition between tech collaboration software firms. Let's see what kind of cool kicks Asana, <a href="https://www.businessinsider.com/slack-vs-microsoft-teams-coronavirus-crisis-remote-work-2020-3">Microsoft Teams,</a> or Zoom hit back with.</p><p><a href="https://www.businessinsider.com/cole-haan-teams-up-with-slack-limited-edition-shoe-collection-2020-10"><div type="image" title="cole haan slack shoes " height="1127" width="1500" msid="78539637" hostid="261"></div></a></p><h2><a href="https://www.businessinsider.com/chamath-palihapitiya-on-coinbase-politics-controversy-2020-10">Quote of the week:</a> </h2><p><strong><em>"You put the soapbox someplace — in a safe space — where you can go and you can talk and people who want to listen will listen, and people who need to work can work, and people who don't want to listen don't have to be forced to listen."</em></strong></p><p><a href="https://www.businessinsider.com/chamath-palihapitiya-on-coinbase-politics-controversy-2020-10">—  Tech investor Chamath Palihapitiya discussing his decidedly low-tech idea</a> of creating designated "free-speech zones" in the office using actual soapboxes. The soapbox suggestion comes amid a firestorm over <a href="https://www.businessinsider.com/twitter-ceo-jack-dorsey-slams-coinbase-chiefs-neutral-stance-2020-10">Coinbase's decision </a>to forbid political conversations among its employees at the workplace.</p><h2>Recommended Readings:</h2><p><a href="https://www.businessinsider.com/amazon-has-a-sexist-and-toxic-culture-some-employees-say-2020-9">Leaked emails show a high-profile engineer left Amazon after filing sexual harassment claims to HR in 2018. Now she's speaking out about what she calls a 'toxic' work culture for women.</a></p><p><a href="https://www.businessinsider.com/bathroomgate-incident-is-one-example-of-political-drama-at-coinbase-2020-10">An incident known as 'bathroomgate' left some Coinbase employees feeling 'targeted,' say former workers. It's the kind of fight CEO Brian Armstrong wants to avoid.</a></p><p><a href="https://www.businessinsider.com/wingman-ventures-swiss-vc-fund-closes-83-million-for-startups-2020-10">Wingman Ventures raises $83 million to invest into Switzerland's underserved startup ecosystem</a></p><p><a href="https://www.businessinsider.com/wearable-tech-companies-google-could-buy-that-arent-fitbit-apple-2020-10">With Google's deal for Fitbit on the ropes, experts say these 8 wearable tech companies could be worth buying in an effort to keep pace with Apple</a></p><p><a href="https://www.businessinsider.com/palantir-blames-morgan-stanley-for-blemished-direct-listing-2020-10">Palantir is blaming Morgan Stanley for a 'blemished' direct listing after technical problems delayed some sales</a></p><h2>Not necessarily in tech:</h2><p><a href="https://www.businessinsider.com/dan-sundheim-profile-d1-viking-billionaire-net-worth-bio-performance-2020-10">The rise of Dan Sundheim: How a Wharton whiz kid became the LeBron James of investing, launched one of the hottest hedge funds on earth, and minted a billion-dollar fortune in the process</a></p><p>Thanks for reading, and if you like this newsletter, <a href="http://newsletter.businessinsider.com/join/4np/insider-tech">tell your friends and colleagues they can sign up here to receive it.</a> </p>

The 4 moguls of Big Tech get some scary bedtime reading

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5a736395af61d85b028b4a67-2344/433969708963671e9b5do.jpg" alt="space shuttle launch" data-mce-source="Flickr/Matthew Simantov" data-link="http://www.flickr.com/photos/msimdottv/4339697089/" /><p class="source"><span><a href="http://www.flickr.com/photos/msimdottv/4339697089/">Flickr/Matthew Simantov</a></span></p></div><p></p></div></div></p><ul><li><strong>Greg Coffey is prepping one of the largest hedge fund launches of 2018, with $1 billion on day one, according to an investor familiar with the plans.</strong></li><li><strong>His new firm, called Kirkoswald, will hard close at $2 billion, with offices in London and New York, the investor said.</strong></li><li><strong>Coffey was once described as "the most impressive trader I've ever seen" by billionaire Louis Bacon.</strong></li></ul><hr /><p><br />Greg Coffey, a star trader who retired at 41, is prepping the launch of a new hedge fund, and it's shaping up to be one of the largest new funds of 2018.</p><p>Coffey's new fund, called Kirkoswald Capital Partners, is planning to launch within the next two months with $1 billion, according to an investor familiar with the plans. The fund aims to hard close at $2 billion, the investor said, meaning the fund will not accept capital after that threshold has been reached.</p><p>Coffey is expected to put a significant percentage of his net worth in the fund.</p><p>The fund, which will have offices in London and New York, will run a global macro strategy with an emerging markets focus.</p><p><span>Hires include Bob Price, previously global operations head at GLG Partners, as chief operating officer; Stuart Atkinson, previously of Moore Capital and GLG, who is heading risk; and James Saltissi, who will be head of execution. </span></p><p><span>Coffey had backed Saltissi's</span> fund,<span> </span><a href="http://www.abbevillellp.com/london/contact/">Abbeville Partners</a>, named after an area in London where Saltissi and Coffey used to live. <span style="background-color: #ffffff;">Abbeville filed to change its name to Kirkoswald Capital Partners at UK Companies House on January 30, and with a UK regulator on January 31.  </span></p><p>Coffey retired from the industry in 2012 at the age of 41, saying at the time that he intended to spend more time with family in his native Australia. He previously worked at GLG Partners and Moore Capital, where he ran two emerging markets funds.</p><p><span>The founder of Moore Capital, Louis Bacon, once</span><span> described Coffey as "the most impressive trader I've ever seen", according to a <a href="https://www.fnlondon.com/articles/greg-coffey-behind-the-curtain-20121106">Financial News report from 2012</a>. He specialized in big macro bets, and earned the nickname the "Wizard of Oz." Still, his investment performance at Moore "failed to live up to the stellar returns he delivered at rival manager GLG Partners, where he built his reputation and earned himself hundreds of millions of dollars by outperforming both the markets and other hedge funds in the heady bull market of 2005 to 2007," the report said.</span></p><p>Other sizable launches this year include funds from <a href="http://www.businessinsider.com/steve-cohens-point72-hedge-fund-amasses-3-billion-closing-to-investors-2018-1">billionaire Steve Cohen</a>, <a href="http://www.businessinsider.com/michael-gelband-millennium-fund-launch-2017-4">ex-Millennium head Mike Gelband</a> and former Viking Global <a href="http://www.businessinsider.com/dan-sundheims-d1-capital-hedge-fund-is-expected-to-raise-billions-2017-12">chief investment officer Dan Sundheim</a>.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/bitcoin-lacks-fundamental-value-wont-replace-gold-2018-1">Principal Global Investors CEO: Bitcoin lacks fundamental value and it won't replace gold</a></h3>        <div>            <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/qxKi0UW6-xjRU7l6Z.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script>        </div>    </div>

Greg Coffey, a star trader who retired at 41, is prepping one of the largest hedge fund launches of 2018

<p>Hello readers, </p><p>Happy New Year!</p><p>In case you missed it, <a href="https://www.businessinsider.com/top-finance-stories-of-the-year-2020-12">check out our rundown of the Wall Street stories that defined 2020</a>. There's plenty to catch up on, but here are just a few of my personal favorites: </p><ul><li>How Dan Sundheim became the LeBron James of investing and <a href="https://www.businessinsider.com/dan-sundheim-profile-d1-viking-billionaire-net-worth-bio-performance-2020-10">launched one of the hottest hedge funds on earth</a></li><li>40 insiders reveal the meteoric rise of <a href="https://www.businessinsider.com/profile-of-silver-lakes-egon-durban-2020-6">Silver Lake's Egon Durban, </a>the tech-focused PE firm's No. 1 dealmaker</li><li>Meet Ram Sundaram,<a href="https://www.businessinsider.com/profile-of-goldman-sachs-executive-ram-sundaram-2020-7"> the leader of a secretive Goldman Sachs desk that's minting billions </a>by designing some of the bank's most imaginative - and controversial - trades</li></ul><p>And now that we're officially on Day 2 of 2021, it's a great time to take stock of what to expect in the year ahead for everything from <a href="https://www.businessinsider.com/merger-acquisition-deal-flow-outlook-2021-trends-activity-healthcare-tech-2020-12">M&amp;A activity</a> and the future of the <a href="https://www.businessinsider.com/goldman-sachs-bankers-tmt-2021-biden-ipo-roadshow-forecast-12">IPO roadshow</a> to <a href="https://www.businessinsider.com/financial-advisor-recruiters-blockbuster-year-2021-outlook-wealth-management-2020-12">financial-advisor moves</a> and the <a href="https://www.businessinsider.com/fintech-trends-vc-investors-watching-2021-embedded-finance-2020-12">next hot fintech trends</a>. You can read some of our biggest predictions below. </p><p>If there's one takeaway, it's that there will be plenty of news, deals, and drama to keep tabs on. If you're not yet a newsletter subscriber<em>,</em> <a href="http://newsletter.businessinsider.com/join/4np/insider-finance">you can sign up here</a> to get your daily dose of the stories dominating banking and business.</p><p>We also have a must-see live event coming up on Jan. 5 - <a href="https://www.businessinsider.com/webinar-how-to-make-the-most-of-ppp-loans-guidance-2020-12">Sign up here</a> <a href="https://www.businessinsider.com/webinar-how-to-make-the-most-of-ppp-loans-guidance-2020-12">for our webinar on how to make the most out of PPP.</a></p><h3><a href="https://www.businessinsider.com/merger-acquisition-deal-flow-outlook-2021-trends-activity-healthcare-tech-2020-12">M&amp;A trends to watch, from a SPAC buying frenzy to a jump in cross-border deals</a></h3><p><a href="https://www.businessinsider.com/merger-acquisition-deal-flow-outlook-2021-trends-activity-healthcare-tech-2020-12"><em></em></a></p><p>From Reed Alexander:</p><p style="padding-left: 40px;"><em><keyword id="101447" type="EVENT" weightage="60" keywordseo="MA">M&amp;A</keyword> activity came <a href="https://www.businessinsider.com/inside-sp-global-merger-ihs-markit-bankers-travel-deals-advisors-2020-12">surging back</a> in the latter half of 2020. Now, <keyword id="42111" type="COMPANY" weightage="60" keywordseo="Wall-Street">Wall Street</keyword> is primed for robust dealmaking in 2021. </em></p><p style="padding-left: 40px;"><em>A new regime in Washington could alleviate the apprehensions of some overseas buyers and spark renewed cross-border dealmaking activity, said Vito Sperduto, co-head of global M&amp;A at RBC Capital <keyword id="31671" type="CITY" weightage="60" keywordseo="markets">Markets</keyword>.</em></p><p style="padding-left: 40px;"><em>Cross-border transactions are likely to see a "significant uptick" once the administration of President-elect Joe Biden steps in, Sperduto said. While some international deals have happened in the past four years, "there already was a slowdown in cross-border transactions pre-pandemic," he said, "and it's just gotten worse."</em></p><h4><a href="https://www.businessinsider.com/merger-acquisition-deal-flow-outlook-2021-trends-activity-healthcare-tech-2020-12">Read our full list of 12 M&amp;A predictions here. </a></h4><h3><a href="https://www.businessinsider.com/hedge-fund-managers-to-watch-2021-coatue-bridgewater-launches-emerging-2020-12">Hedge funds to watch: Big names, new launches, and under-the-radar managers</a></h3><div type="image" title="Daniel Sundheim" height="2184" width="4368" msid="80074762" hostid="261"></div><p>From Bradley Saacks:</p><p style="padding-left: 40px;"><em>Hedge funds, on average, had a good year - the most recent Preqin data shows hedge funds are up more than 13% for the year after a strong November. </em></p><p style="padding-left: 40px;"><em>But performance wasn't equal across all strategy types, with concentrated equity man</em>ager<em>s - especially those with <a href="https://www.businessinsider.com/dan-sundheim-profile-d1-viking-billionaire-net-worth-bio-performance-2020-10?r=d1-teaser">big private-market bets</a>- leading the way while well-known <a href="https://www.businessinsider.com/quant-hedge-funds-are-getting-slammed-thanks-to-coronavirus-volatility-2020-3">quants struggled</a>. And a lot of those trends are expected to carry over through the new year. </em></p><h4><a href="https://www.businessinsider.com/hedge-fund-managers-to-watch-2021-coatue-bridgewater-launches-emerging-2020-12">Here are the 12 hedge funds to have on your radar in 2021.</a></h4><h3><a href="https://www.businessinsider.com/fintech-trends-vc-investors-watching-2021-embedded-finance-2020-12">Embedded finance, finfluencers, and a 'great rebundling'</a></h3><div type="image" title="Charli Damelio and Dixie Damelio speak during Graduate Together" height="1267" width="2535" msid="80074764" hostid="261"></div><p>From Shannen Balogh:</p><p style="padding-left: 40px;"><em>Insider asked four <keyword id="2461546" type="PERSON" weightage="60" keywordseo="FinTech">fintech</keyword> investors what they're looking out for in 2021. All mentioned embedded <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">finance</keyword> as a major trend that's likely to continue as fintechs, and those in other industries, look to expand the types of services they offer customers.</em></p><p style="padding-left: 40px;"><em>"I think we're in a great rebundling," Ashley Paston, an investor at Bain Capital Ventures, told Insider. "If you look in any fintech, they have expanded outside of their initial product to create more value for their end customer."</em></p><p style="padding-left: 40px;"><em>Investors also see a rise of 'finfluencers' to help reach younger customers, especially after Step, a digital bank for teens, launched in partnership with TikTok star Charli D'Amelio. Since its rollout in October, the fintech has over 500,000 sign-ups and <a href="https://www.businessinsider.com/step-no-fee-digital-bank-teens-launches-charli-damelio-tiktok-2020-9">raised a $50 million Series B</a>.</em></p><h4><a href="https://www.businessinsider.com/fintech-trends-vc-investors-watching-2021-embedded-finance-2020-12">Read our full rundown of the next hot fintech trends here. </a></h4><h3><a href="https://www.businessinsider.com/banking-2021-industry-trends-outlook-citi-jpmorgan-wells-ally-retail-2020-12">What's next for consumer banking</a></h3><div type="image" title="FILE PHOTO: A woman passes by a Chase bank in Times Square in New York City, U.S., March 7, 2019. REUTERS/Brendan McDermid" height="400" width="800" msid="80074765" hostid="261"></div><p>From Carter Johnson:</p><p style="padding-left: 40px;"><em>The past 12 months accelerated trends like mobile banking and digitization that have long been building in consumer banking. Both were part of a broader shift away from in-person branch visits as customers shunned human contact during the pandemic. </em></p><p style="padding-left: 40px;"><em>It's no surprise, then, that as 2020 turns into 2021, predictions for what banks will prioritize revolve around further developing technological capabilities and online customer experience. </em></p><p style="padding-left: 40px;"><em>Digitization and cloud technology, as well as the broader consumer credit environment and <a href="https://www.businessinsider.com/citigroup-spending-1-billion-to-shore-up-risk-management-controls-2020-9">cost-cutting</a> measures, were top of mind when bank execs discussed their goals for the year ahead.</em></p><h4><a href="https://www.businessinsider.com/banking-2021-industry-trends-outlook-citi-jpmorgan-wells-ally-retail-2020-12">Here's what's in store for 5 big banks in 2021, from leadership changes to ambitious tech pushes.</a></h4><h3><a href="https://www.businessinsider.com/fintech-exits-vc-investors-deals-ipo-2021-outlook-funding-valuation-2020-12">Fintech investors are excited for another big year after 2020 blew away their expectations</a></h3><p><a href="https://www.businessinsider.com/fintech-exits-vc-investors-deals-ipo-2021-outlook-funding-valuation-2020-12"><div type="image" title="Jay Ganatra" height="1133" width="2266" msid="80075098" hostid="261"></div></a></p><p>From Shannen Balogh:</p><p style="padding-left: 40px;"><em>Many fintechs saw massive growth and adoption in 2020. </em><em>There's also been no shortage of funding. Private funding has surged with a record number of mega-rounds - $100 million and above - this year, <a href="https://www.cbinsights.com/research/report/fintech-trends-q4-2020/">according to a recent CBInsights report</a>. And fintechs like <a href="https://www.businessinsider.com/buy-now-pay-later-growth-timeline-fintechs-affirm-klarna-paypal-2020-9">Affirm</a> and Marqeta are gearing up for IPOs.</em></p><p style="padding-left: 40px;"><em>Investors don't see things cooling down any time soon.</em></p><p style="padding-left: 40px;"><em>"We're very excited for some of our more mature companies for the exit environment that they'll be seeing," said Jay Ganatra, partner at PayPal Ventures, whose <a href="https://www.businessinsider.com/biggest-strategic-investments-from-payments-companies-like-paypal-and-amex-2020-2">portfolio companies</a> include personal finance app Acorns and <a href="https://www.businessinsider.com/earned-wage-access-on-demand-pay-privacy-gusto-adp-payroll-2020-11">earned wage access</a> startup Even.</em></p><h4><a href="https://www.businessinsider.com/fintech-exits-vc-investors-deals-ipo-2021-outlook-funding-valuation-2020-12">Here's why fintech investors are so optimistic about opportunities in 2021, from M&amp;A and public listings to competitive private funding rounds.</a></h4><h3><a href="https://www.businessinsider.com/legal-tech-trends-predictions-2021-industry-insiders-consolidation-platforms-2020-12">Tech will continue transforming the legal industry at lightning speed</a></h3><div type="image" title="legal tech lady justice code 2x1" height="762" width="1525" msid="80074768" hostid="261"></div><p>From Yoonji Han: </p><p style="padding-left: 40px;"><em>2020 was a big year for legal <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech">tech</keyword>. As law firms and businesses across industries shifted to remote work, legal tech companies stepped in to offer digital solutions to help streamline the transition, from client relationship management to contract analysis.</em></p><p style="padding-left: 40px;"><em><a href="https://www.businessinsider.com/vcs-reveal-how-tech-will-impact-the-legal-industry-workforce-2020-7">Shrinking budgets and increasing client demands</a> for efficiency further spurred lawyers' adoption of technology. </em></p><p style="padding-left: 40px;"><em>"It's an exciting time for the legal profession," said Jack Rives, executive director of the American Bar Association. "Attorneys are embracing and growing more comfortable with technology."</em></p><p style="padding-left: 40px;"><em>Insider spoke with six legal tech experts on the biggest transformations of 2020, and their predictions for the year ahead.</em></p><h4><a href="https://www.businessinsider.com/legal-tech-trends-predictions-2021-industry-insiders-consolidation-platforms-2020-12">Here are the 5 big trends to watch.</a></h4><h3><a href="https://www.businessinsider.com/financial-advisor-recruiters-blockbuster-year-2021-outlook-wealth-management-2020-12">Top headhunters expect another busy</a><a href="https://www.businessinsider.com/financial-advisor-recruiters-blockbuster-year-2021-outlook-wealth-management-2020-12"> year for financial-advisor moves</a><a href="https://www.businessinsider.com/financial-advisor-recruiters-blockbuster-year-2021-outlook-wealth-management-2020-12"></a></h3><p><a href="https://www.businessinsider.com/financial-advisor-recruiters-blockbuster-year-2021-outlook-wealth-management-2020-12"><div type="image" title="rise in financial advisor hiring 2x1" height="1200" width="2400" msid="80074769" hostid="261"></div></a></p><p>From Rebecca Ungarino:</p><p style="padding-left: 40px;"><em>Not since the last financial crisis has Jeff Feldman, a Chicago-based recruiter and consultant for financial advisors, seen such a frenetic year of activity.</em></p><p style="padding-left: 40px;"><em>2020 has been his second-busiest on record by volume, bested only by 2009. And he doesn't see that slowing down. Today, Feldman's roster of clients includes wealth managers First Republic, LPL Financial, RBC Capital Management, and <a href="https://www.businessinsider.com/rockefeller-capital-greg-fleming-recruiting-expansion-strategy-2020-7">Rockefeller Capital Management</a>. </em></p><p style="padding-left: 40px;"><em>"I think you're going to see a lot of movement in the first half" of next year, Feldman said. "Because of the past six months, advisors have taken this time to educate themselves on new business models - and the competition."</em></p><h4><a href="https://www.businessinsider.com/financial-advisor-recruiters-blockbuster-year-2021-outlook-wealth-management-2020-12">You can read more about what's stoking the frenzy here. </a></h4><h3><a href="https://www.businessinsider.com/goldman-sachs-bankers-tmt-2021-biden-ipo-roadshow-forecast-12">Goldman Sachs tech bankers predict the IPO roadshow will never be the same</a></h3><p><a href="https://www.businessinsider.com/goldman-sachs-bankers-tmt-2021-biden-ipo-roadshow-forecast-12"><div type="image" title="digital wall street virtual remote work 3 2x1" height="871" width="1743" msid="80074770" hostid="261"></div></a></p><p>From Reed Alexander:</p><p style="padding-left: 40px;"><em>One big change from 2020 that's likely here to stay is the efficiency that has been introduced in the IPO roadshow process, according to <a href="https://www.businessinsider.com/goldman-sachs-partner-jane-dunlevie-investment-banking-tmt-2020-11">Jane Dunlevie</a>, co-head of Goldman Sachs' global internet investment banking.</em></p><p style="padding-left: 40px;"><em>Traditionally, bankers hit the road leading up to an IPO to court investors and generate buzz. </em><em>But the pandemic forced bankers to find <a href="https://www.businessinsider.com/shift4-payments-ipo-nyse-raises-345-million-virtual-2020-6">creative virtual solutions</a> for engaging investors without meeting them face-to-face.</em></p><p style="padding-left: 40px;"><em>"It's been highly productive," Dunlevie said. "We're getting roadshows done in fewer days, for the most part, so we can cut off one or two or even three days of meetings, and these IPOs are getting done I think incredibly successfully."</em></p><p style="padding-left: 40px;"><em>Aspects of that will likely continue.</em></p><p style="padding-left: 40px;"><em>"Our expectation is to try and take the best of both worlds, if and as the world reopens," she said. That might mean management teams hit up one or two large cities, but "we can probably take many of these efficiencies into processes going forward."</em></p><h4><a href="https://www.businessinsider.com/goldman-sachs-bankers-tmt-2021-biden-ipo-roadshow-forecast-12">Read more predictions for IPOs in 2021.</a></h4><h2><strong>Top news from the past week:</strong></h2><ul><li>The <a href="https://www.businessinsider.com/biggeest-legal-lateral-hires-recruiters-headhuntetrs-big-law-trends-2020-12">16 biggest lawyer moves that defined 2020,</a> according to the industry's top legal recruiters</li><li>QR codes are catching on like crazy in restaurants. Now, <a href="https://www.businessinsider.com/paypal-qr-code-payments-in-store-analysts-retail-square-checkout-2020-12">PayPal wants to turn the tech into a new way to pay in-store</a>.</li><li>The Floor, <a href="https://www.businessinsider.com/former-goldman-sachs-cio-joins-banking-fintech-the-floor-2020-12">a startup building app stores for banks that nabbed a 25-year Goldman Sachs veteran as chairman</a>, is eyeing fresh funding and a hiring push</li><li>Mastercard's <a href="https://www.businessinsider.com/mastercard-new-chief-product-office-craig-vosburg-b2b-data-payments-2020-12">new chief product officer</a> has big plans for B2B payments and open banking</li><li><a href="https://www.businessinsider.com/goldman-sachs-asset-management-gsam-sheila-patel-retire-memo-solomon-2020-12">Sheila Patel</a>, chair of Goldman Sachs' $1.8 trillion asset-management division and one of the most senior women at the firm, is retiring</li></ul>

Big predictions for the year ahead on Wall Street

<img src="https://static-ssl.businessinsider.com/image/5e56bf20fee23d2a70055129-1200/weststreet mark zuckerberg priscilla chan family office assault hawaii 2x1.png" alt="weststreet mark zuckerberg priscilla chan family office assault hawaii 2x1" /><p>Hello!</p><p>One minute before midnight on December 29, 2017, one of Mark Zuckerberg's personal staffers got a phone call.</p><p>So starts an explosive story from Rob Price and Becky Peterson, which shines a light on the sprawling family office of Mark Zuckerberg and his wife, Priscilla Chan. According to their reporting:</p><ul><li>Over the past three years, multiple personal aides to Mark Zuckerberg and Priscilla Chan have been accused of serious misconduct by their colleagues.</li><li>One former staffer accused the manager of Zuckerberg's Hawaii properties of assaulting her after a night of drinking, which led to a hospital visit and police investigation.</li><li>A Business Insider investigation into the Facebook CEO's secretive family office has uncovered a workplace in crisis over the family's handling of allegations of sexual harassment, racism, and transphobia.</li><li>A representative for Zuckerberg described Business Insider's reporting as "a collection of unfounded rumors, exaggerations, and half-truths which unfairly malign several of our valued employees."</li></ul><p>You can read their story here: <strong><a href="https://www.businessinsider.com/mark-zuckerberg-family-office-weststreet-misconduct-allegations-2020-2">A drunken late-night assault allegation has roiled the secretive world of Mark Zuckerberg's private family office. Personal aides are speaking out about claims that household staff endured sexual harassment and racism from their colleagues.</a></strong></p><p><strong></strong></p><strong><img src="https://static-ssl.businessinsider.com/image/5e557bfbfee23d482b10dbf2-1668/most important charts 2020 2x1.png" alt="most important charts 2020 2x1" /></strong><p>Markets were a sea of red this week as the S&amp;P 500 posted its <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-worst-week-since-2008-coronavirus-economy-2020-2-1028951101">worst week since the financial crisis</a>. Amid all of the coronavirus carnage, Akin Oyedele published a list of the most important charts in the world. </p><p>Akin asked asked 20 financial experts - including Nobel-winning economists and acclaimed investment chiefs - to share charts that capture the biggest trends in markets. </p><p>You can read his story here: <strong><a href="https://www.businessinsider.com/most-important-charts-finance-markets-investing-wall-street-experts-outlook-2020-2">Robert Shiller, Rick Rieder, and 18 more of the brightest minds on Wall Street reveal the most important charts in the world.</a></strong></p><p>Akin also had several stories offering guidance on how to best navigate the coronavirus-driven sell-off.</p><ul><li><a href="https://www.businessinsider.com/stock-picks-cheap-options-strategy-coronavirus-market-rally-goldman-sachs-2020-2">Goldman Sachs reveals the 10 best stocks to buy now for a market comeback from the coronavirus-driven plunge</a></li><li><a href="https://www.businessinsider.com/stock-market-investing-advice-how-to-hedge-coronavirus-outbreak-crash-2020-2">A Wall Street firm lists its 5 best hedges for an unusual coronavirus-driven market crash - and shares what to do if it's successfully contained</a></li><li><a href="https://www.businessinsider.com/stock-market-sell-off-coronavirus-impact-quality-factor-investing-blackrock-2020-2">BLACKROCK: Coronavirus fears have upended the most enduring drivers of stock returns. Here are 3 ways to stay afloat and beat the market.</a><br /></li><li><a href="https://www.businessinsider.com/stock-market-coronavirus-sell-off-how-to-invest-avoid-losses-2020-2">A hedge fund CEO who specializes in volatility told us why the coronavirus-driven plunge is a game changer - and shares 4 tips for avoiding big losses</a><br /></li></ul><p>And Bradley Saacks discovered a number of <a href="https://www.businessinsider.com/citadel-blackrock-d1-short-positions-in-coronavirus-related-shorts-2020-2">hedge funds made bets that are benefiting from the sell-off</a>. He reported that Ken Griffin's Citadel, Larry Fink's BlackRock, and Daniel Sundheim's D1 Capital are <a href="https://www.businessinsider.com/citadel-blackrock-d1-short-positions-in-coronavirus-related-shorts-2020-2">gaining from short positions on stocks hit hard by the coronavirus</a>.</p><img src="https://static-ssl.businessinsider.com/image/5e1ca68e24fe1259d2559fba-2400/ken linfullres.jpg" alt="Ken Lin Credit Karma" /><p>Intuit announced a $7 billion deal to <a href="https://www.businessinsider.com/intuit-credit-karma-acqusition-sasan-goodarzi-kenneth-lin-2020-2">buy Credit Karma this week</a>, the latest in a wave of fintech dealmaking. </p><ul><li>Paayal Zaveri talked to Intuit CEO Sasan Goodarzi and Credit Karma CEO Kenneth Lin about <a href="https://www.businessinsider.com/intuit-credit-karma-acqusition-sasan-goodarzi-kenneth-lin-2020-2">the rationale for the deal</a>. Goodarzi said the deal would help it put "<a href="https://www.businessinsider.com/intuit-credit-karma-acqusition-sasan-goodarzi-kenneth-lin-2020-2">a financial assistant in the pockets of consumers</a>."</li><li>Melia Russell talked to two early investors in Credit Karma about why they<a href="https://www.businessinsider.com/intuit-credit-karma-acquisition-returns-for-investors-2020-2"> took a risky bet during the worst financial crisis of the century and how it's paid off.</a></li><li>Dan DeFrancesco talked to fintech dealmakers to identify <a href="https://www.businessinsider.com/top-fintech-merger-and-acquisition-targets-for-2020-2020-2">seven buzzy companies Wall Street could target next</a>.</li><li>And Rebecca Ungarino talked to industry insiders to <a href="https://www.businessinsider.com/personal-capital-yodlee-acquistion-targets-for-jpmorgan-analysis-2020-2">pinpoint five companies they think JPMorgan could try and buy</a> after Jamie Dimon <a href="https://www.businessinsider.com/jpmorgan-wealth-asset-management-on-potential-deals-hiring-us-expansion-2020-2">said the bank would be "much more aggressive" on M&amp;A</a>. </li><li>Elsewhere in finance, Franklin Resources and Legg Mason's $4.5 billion merger is the latest in a wave of asset manager M&amp;A. Bradley and Rebecca <a href="https://www.businessinsider.com/asset-managers-could-be-next-target-after-franklin-legg-mason-2020-2">highlighted four more potential takeover targets</a>.</li></ul><p>That's all for this week. Enjoy your Sunday!</p><p>-- Matt</p><h2>Finance and Investing</h2><p><strong><a href="https://www.businessinsider.com/which-mba-programs-private-equity-firms-hiring-the-most-from-2020-2">Private-equity giants are ramping up MBA recruiting and looking beyond '2-2-2' promotions - here's which schools are seeing the most hiring</a></strong></p><p>The biggest PE shops are doing more hiring from elite MBA programs, and they're filling spots for a wider variety of roles than in the past.</p><p><strong><a href="https://www.businessinsider.com/payroll-advance-startup-dailypay-launches-savings-product-2020-2">DailyPay, the payday advance startup used by Berkshire Hathaway and Six Flags, is launching a savings product to help customers break the paycheck-to-paycheck cycle</a></strong></p><p>A significant number of Americans are living paycheck to paycheck, causing financial stress and limiting their ability to save. </p><h2>Tech, Media, Telecoms</h2><p><strong><a href="https://www.businessinsider.com/thomas-aws-oracle-amazon-cloud-2020-1">The CTO of a 120-year-old company explains how yanking out most of its Oracle technology after a surprise $1 million bill is helping it move faster with Amazon's cloud</a></strong></p><p>Cloud computing promises to save companies a lot of money compared to running IT operations the old-fashioned way of buying software and hardware and running data centers.</p><p><strong><a href="https://www.businessinsider.com/microsoft-mixer-gm-video-meeting-negativity-complain-nag-2020-2">A leaked video shows the head of Microsoft's competitor to Amazon's Twitch telling employees to stay positive, not 'complain and nag'</a></strong></p><p>The new head of Mixer, Microsoft's answer to Amazon's wildly popular Twitch, told employees to stop acting so negative about the state of the service, in a video excerpt of a town-hall team meeting reviewed by Business Insider.</p><p><strong><a href="https://www.businessinsider.com/2-top-executives-leave-theskimm-newsletter-for-millennial-women-2020-2">2 top executives have just left millennial media company TheSkimm as it looks for its next phase of growth</a></strong></p><p>TheSkimm, a media company aimed at millennial women, has lost two executives who were key to its next phase of growth.</p><h2>Healthcare, Retail, Transportation</h2><p><strong><a href="https://www.businessinsider.com/moderna-coronavirus-mrna-vaccine-candidate-development-timeline-2020-2">How the buzzy biotech upstart Moderna sped past Big Pharma to develop the first potential coronavirus vaccine in just 42 days</a></strong></p><p>Scrambling to respond to the growing coronavirus outbreak, some of the <a href="https://www.businessinsider.com/wuhan-coronavirus-treatments-vaccine-jj-regeneron-gilead-2020-2">world's largest drugmakers</a> have begun researching vaccines to prevent the deadly virus.</p><p><strong><a href="https://www.businessinsider.com/hersheys-digital-transformation-turns-to-amazon-to-drive-sales-online-2020-2">Hershey is going all-in on Amazon. The snack king's director of digital explains its playbook.</a></strong></p><p>The Hershey Company is in the midst of a digital transformation.</p><p><strong><a href="https://www.businessinsider.com/elon-musk-should-care-that-bill-gates-bought-a-porsche-over-a-tesla-2020-2">Bill Gates can buy any car he wants - but maybe Elon Musk should care it's a Porsche and not a Tesla</a></strong></p><p>Tesla CEO Elon Musk started a minor fight with Microsoft co-founder and retired CEO Bill Gates recently when Gates said he'd bought a new Porsche Taycan, not a Tesla.</p><h2>Leadership and Entrepreneurship</h2><p><strong><a href="https://www.businessinsider.com/diversity-inclusion-strategy-chiefs-twitter-netflix-salesforce-2020-2">POWER PLAYERS: The 10 most influential diversity leaders fighting inequality in corporate America right now</a></strong></p><p>It's long seemed as though white-collar offices in finance and tech largely ignored <a href="https://www.vox.com/policy-and-politics/2019/2/28/18241973/workplace-discrimination-cpi-investigation-eeoc">people of color</a> and <a href="https://www.pewresearch.org/fact-tank/2017/12/14/gender-discrimination-comes-in-many-forms-for-todays-working-women/">women</a> when recruiting for important roles, creating a so-called boys' club for straight white men.</p><h1><a href="https://www.businessinsider.com/retire-millionaire-build-wealth-financial-strategies-20s-30s-40s-50s-2019-1">What to do in your 20s, 30s, 40s, and 50s to retire with $1 million, according to financial planners</a></h1><p><a href="https://www.businessinsider.com/how-to-become-a-millionaire-2018-3" target="_blank" rel="noopener">Becoming a millionaire</a> doesn't have to involve a big paycheck.</p> 

You Searched For "dan sundheim" and got 11 results

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Wells Fargo's mortgage banker exodus - Wall Street's return to office - Crypto talent war

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