Markets

Hedge fund winners and losers — Morgan Stanley’s shopping spree

Happy Saturday! Just six days after Morgan Stanley closed on its all-stock E-Trade acquisition, the Wall Street bank said this week that it will buy Eaton Vance in a deal valued at $US7 billion. Rebecca Ungarino took a look at why Morgan Stanley’s bid for the storied asset manager gives […]
Hedge fund winners and losers — Morgan Stanley’s shopping spree
Markets

Hot wealth startups — JPMorgan tech pay

Welcome to the long weekend! Wealth-tech funding is heating back up. Last quarter, wealth startups raised $US1.2 billion in venture funding, up from $US450 million during the first quarter, according to CB Insights data. Rebecca Ungarino asked VCs and other big investors to nominate early-stage startups in the wealth management […]
Hot wealth startups — JPMorgan tech pay
Markets

How much incoming investment bankers get paid at the 10 bulge-bracket banks

Welcome to the weekend! The competition for young talent is fierce and it’s no secret that investment bankers are among America’s highest-paid earners out of college. This week Business Insider got the details behind the base salaries and annual bonuses top investment banks and boutiques pay. Reed Alexander combed through […]
How much incoming investment bankers get paid at the 10 bulge-bracket banks
Markets

How to pitch top hedge funds on the next hot alt-data set

Happy Saturday! Hedge funds that love to use Robinhood data to hunt for winning ideas won’t be able to tap its enormous pool of trades in quite the same way anymore. As CNBC first reported, Robinhood is no longer publishing how many customers held a particular stock, and the retail-trading […]
How to pitch top hedge funds on the next hot alt-data set
Markets

IPO frenzy — Silver Lake travel bets — The next big short

Welcome to Wall Street Insider, where we take you behind the scenes of the finance team’s biggest scoops and deep dives from the past week. If you aren’t yet a subscriber to Wall Street Insider, you can sign up here. It was another tough week for the nation, with an […]
IPO frenzy — Silver Lake travel bets — The next big short
Markets

Wall Street’s new disaster playbook; top restructuring lawyers

Welcome to Wall Street Insider, where we take you behind the scenes of the finance team’s biggest scoops and deep dives from the past week. If you aren’t yet a subscriber to Wall Street Insider, you can sign up here. Wall Street had to quickly adapt to a new work-from-home […]
Wall Street’s new disaster playbook; top restructuring lawyers
Markets

Big Law M&A work slumps; volatility funds shine; Goldman picks teams

Welcome to Wall Street Insider, where we take you behind the scenes of the finance team’s biggest scoops and deep dives from the past week. If you aren’t yet a subscriber, you can sign up here. Blue team, white team Cboe and CME are clearing trading floors. Barclays and Intercontinental […]
Big Law M&A work slumps; volatility funds shine; Goldman picks teams
Markets

Growing pains in the alt-data world; top tech bankers weigh in on 2020 IPOs

Hello, readers! This week, we dove into something of an existential question for the alternative-data industry: what happens when alt-data goes mainstream? The market for selling what was once unorthodox information like satellite images and credit card data to customers like hedge funds looking to gain an investing edge has […]
Growing pains in the alt-data world; top tech bankers weigh in on 2020 IPOs
Markets

BoA saving billions on the cloud; the Kabbalah connection

Hi, folks. Friendly neighbourhood hedge-fund reporter Bradley Saacks here pinch-hitting for Olivia and Meredith. We here at Business Insider, like many other organisations, spend a lot of time thinking, reporting, and writing about who’s next – the next CEO of a major bank, the next big unicorn founder, the next […]
BoA saving billions on the cloud; the Kabbalah connection
Markets

WeWork drama continues, Hedge fund fees, AI on Wall Street

Hi everyone, I’ll take a break from WeWork this week (although we do have a lot of good stories out this week including this bombshell) to focus on a new and growing area for us – the future of wealth management. Today, we published a big scoop that Bank of […]
WeWork drama continues, Hedge fund fees, AI on Wall Street
Markets

KKR hiring college seniors; Deutsche Bank’s new power structure

Hi, readers. I’ll keep things short this week, since we’re reaching peak vacation season and finance news is probably not top of mind right now. This week we had a really fun wealth-management story, in which we asked a handful of top wealth advisers about the most out-there requests they […]
KKR hiring college seniors; Deutsche Bank’s new power structure
Tech

WeWork is going public with an extremely weird, complicated structure

WeWork is going public with a weird corporate structure that would give tax benefits to early insiders but not to those who buy in later. WeWork confirmed in its S-1 filing that it has adopted something similar to the so-called “Up-C” structure, where investors can only buy into a holding […]
WeWork is going public with an extremely weird, complicated structure
Markets

LSE’s big bet; Humans are beating machines in hedge-fund land; Early days for AI

Dear readers, Happy Saturday! In a blockbuster $US27 billion deal that’s certain to threaten Bloomberg’s financial-data empire, the London Stock Exchange struck an agreement this week to buy the data company Refinitiv. The tie-up highlights trading venues’ desire to move beyond low-margin trading and clearing into the more lucrative business […]
LSE’s big bet; Humans are beating machines in hedge-fund land; Early days for AI
Markets

Here’s a look at our top 5 Prime stories of the second quarter

Hello! I wanted to highlight our top 5 Prime stories of the second quarter. While they all fall within different industries, what connects these stories is deep reporting that truly takes readers inside the companies they care most about. 1) As Oracle’s growth stagnates, insiders say that its all-important cloud […]
Here’s a look at our top 5 Prime stories of the second quarter
Markets

One of the most influential VCs in Silicon Valley told startups to ‘call Morgan Stanley’ after Slack’s successful direct listing

After Slack launched on the public market Thursday in a nontraditional direct listing, a prominent venture capitalist is recommending the approach – and a particular bank to execute the deals. “If your company is interested in a direct-listing, recommend you call Morgan Stanley,” Benchmark’s Bill Gurley said Thursday in an […]
One of the most influential VCs in Silicon Valley told startups to ‘call Morgan Stanley’ after Slack’s successful direct listing
Markets

JPMorgan just shut down Finn, its millennial-focused banking app

Mega-bank JPMorgan has shut down Finn, its banking app focused on younger users. The company has said it will instead focus on these customers through its Chase brand. Read the latest JPMorgan news here. JPMorgan, the nation’s largest bank by market cap, is closing down its short-lived banking app Finn, […]
JPMorgan just shut down Finn, its millennial-focused banking app
Markets

JPMorgan credit-card customers are seething about company plans to revoke their ability to sue them — here’s how to protect yourself

JPMorgan Chase is planning to revoke its credit-card customers’ ability to sue them. The bank sent nearly all of its cardholders notifications alerting them that they were implementing binding arbitration that prevents customers from taking disputes to court or joining class-action lawsuits. The plan has been met with backlash from […]
JPMorgan credit-card customers are seething about company plans to revoke their ability to sue them — here’s how to protect yourself
Markets

Goldman Sachs is cutting nearly 100 jobs amid tumbling profits

Goldman Sachs is cutting 98 jobs across its operations,according to a filing. Employees have already been notified of the cuts, which are for “economic reasons” amid the Wall Street bank’s net income dropping 20% for the first quarter. The bank’s bonus pool also shrank after Goldman missed analyst revenue targets […]
Goldman Sachs is cutting nearly 100 jobs amid tumbling profits
Markets

Bank of America beats, posting record quarter with $7.3 billion in profits

Bank of America beat expectations Tuesday with first-quarter earnings results of $US0.70 a share and record profits of $US7.3 billion. Visit BusinessInsider.com for more stories Bank of America announced first-quarter earnings results Tuesday morning, reporting record quarterly profits of $US7.3 billion. The bank brought in earnings per share of $US0.70, […]
Bank of America beats, posting record quarter with $7.3 billion in profits
Markets

Private-equity tricks mask mounting debt: ‘I’m 5 feet 8 inches, but I change the scale and make myself 6 feet 2 inches on a pro forma basis’

Jonathan Lavine, a co-managing partner at Bain Capital, warned in an interview with the Financial Times that massive debt piles in the private-equity industry were raising the risk of a crash. Lavine said that parts of the private-equity space were being “increasingly aggressive” in their calculations. Higher prices for deals […]
Private-equity tricks mask mounting debt: ‘I’m 5 feet 8 inches, but I change the scale and make myself 6 feet 2 inches on a pro forma basis’