How SPACs print money – Who’s left at Marcus – Compass IPO takeaways

Wall street

Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:

  • We broke down who’s really driving the SPAC boom and what the end game looks like. 
  • As Goldman Sachs’ Marcus goes through a leadership shakeup, meet the 15 people left leading the retail bank.
  • A startup that helps small businesses connect to fintechs and banks nabs backing from PayPal and Amex. 

We are also looking for nominations for upcoming list of top equity research analysts under 35. Find out more about the list, and how to nominate someone here. 

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What hedge funds really think about SPACs: How a money-printing frenzy could end in tears for whoever’s holding the bag

Ackman, Bill Ackman

The SPAC world is booming right now, with high-profile sponsors launching their own blank-check companies seemingly every day. 

But what’s fueling the fire? And how will it end? Hear from 12 industry insiders about how SPAC mania will end. 

Click here to read the entire story.


Marcus is in the midst of a massive leadership shakeup. Meet the 15 execs guiding Goldman Sachs’ consumer banking upstart.

Sonali Divilek, left, and Andrea Finan are two executives overseeing Goldman's Marcus Invest.
Sonali Divilek, left, and Andrea Finan are two executives overseeing Goldman’s Marcus Invest. Goldman Sachs

Goldman Sachs’ Marcus is in a state of flux with the departure of Omer Ismail, the firm’s head of consumer business. Meet the other top leaders still at the upstart retail bank looking to make Goldman Sachs a household name on Main Street. Read more here.


PayPal and Amex just backed a startup streamlining how small businesses connect with banking and accounting tools like Quickbooks and Zettle

Codat Founding Team
‘s founding team Peter Lord, Alex Cardona, and David Hoare (CTO) Codat

Startup Codat, which helps connect small businesses to the tools and apps they use, just nabbed backing from payments giants PayPal and Amex. See more here


Compass, the much-hyped Softbank-backed real-estate brokerage, has filed for an IPO. We pored over its 261-page S-1 filing and came away with 5 key revelations.

Compass Co-Founder and CEO, Robert Reffkin
Co-Founder and CEO, Robert Reffkin Compass

All the details you need to know about Compass’ upcoming IPO. Get the full rundown here.


Odd lots:

Greensill Faces Another Fund Freeze as It Explores Insolvency (WSJ)

Hey Citi, your bitcoin report is embarrassingly bad (FT)

Companies Zoom In on Small Shareholders Amid Retail Trading Frenzy (WSJ)

Wall Street Poaching Season Heats Up With Fintech and Funds on the Hunt (Bloomberg)

SoftBank-backed startup Greensill faces bankruptcy after Credit Suisse freezes $US10 ($13) billion in funds over asset values, report says (BI)

Jack Dorsey’s Square kickstarts in-house banking services nearly a year after receiving conditional approval (BI)

Goldman’s Chief Lawyer Departs With Senior Exits Growing at Bank (Bloomberg)