Robinhood’s top lawyer critiques SPACs – Goldman wants interns in-person – Inside Apollo’s Athene deal

Wall street

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


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Goldman Sachs is telling incoming summer interns that in-office work may be possible and encouraging them to network ahead of time virtually

David Solomon

Goldman Sachs just told all its incoming interns it’s hoping to get them at least some in-person work this summer. Here’s what it’s telling interns, and what the bank is suggesting they can do in the meantime.

Get the full rundown here.


Robinhood’s top lawyer says the SEC should be scrutinizing SPACs, not payment for order flow

Daniel Gallagher

Daniel Gallagher, Robinhood’s top lawyer, talked payment for order flow, SPACs, and crypto at a recent industry event. An SEC alum himself, Gallagher said regulators are more likely to scrutinize SPACs and cryptocurrencies instead of PFOF, which is a major revenue source for the startup. Click here to read the entire story.


Apollo is taking full ownership of Athene. Here’s how the mega insurance deal is part of a push to overhaul the PE giant’s tarnished image.

Marc Rowan
Marc Rowan, Apollo co-founder. Reuters

Apollo said Monday it would acquire longtime affiliate Athene Holdings. The deal would create a $US29 ($38) billion conglomerate and put to rest conflict of interest issues between the two companies. Read more here.


Law firms are wooing energy-focused lawyers to their project finance teams. Here’s why they’re in demand and what they’ll be focusing on in 2021.

Kirkland debt finance
Tatiana Monastyrskaya and Rachael Lichman, new debt finance partners at . Kirkland & Ellis

Law firms like Kirkland and Allen & Overy are hiring energy sector-focused lawyers with PE and finance clients. Demand is high because investors want in on renewable energy and infrastructure projects. Read more here.


BNP Paribas faces a new legal risk from Sudanese refugees suing the bank over its financing of the country’s genocidal regime

GettyImages 1229135196
BNP Paribas’ office in NYC ANGELA WEISS/AFP via Getty Images

A new proposed class-action lawsuit filed by Sudanese American refugees could result in BNP Paribas paying hundreds of millions or billions in new payouts to the country’s genocide victims. See more here.


Odd lots:

Goldman Crypto Chief Flags Institutional Demand Driving Boom (Bloomberg)

Greensill’s Key Clients Included West Virginia Gov. Jim Justice’s Coal Company (WSJ)

Greensill Capital Tumbles into Insolvency, Spreading Financial Pain (WSJ)

At 22, I was the youngest-ever woman NYSE floor trader and making $US12,000 ($15,578) a year. I walked away after 2 years and never looked back – here’s what the experience taught me. (BI)

Goldman’s Stephanie Cohen Says Firm Can Work With Financial Newcomers (Bloomberg)