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On the agenda today:
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Goldman Sachs is raising salaries for some junior investment bankers
Second-year analysts will now make $125,000 in base comp before a bonus, and first-year associates will now make $150,000. Here’s what we know so far.
Meet the seven people reporting to Bank of America’s top tech exec
Cathy Bessant is the chief operations and technology officer at Bank of America, overseeing a $14 billion annual tech budget and 95,000 employees globally. These are the seven key leaders reporting to Bessant.
Hedge funds are taking on venture capitalists in the battle to back the best startups
Hedge funds are turning to private markets to boost returns — and using quant strategies, data science, and partnerships to gain an edge in investing. We spoke with investors at Two Sigma, D.E. Shaw, and Point72, who told us how they source the best startups.
Wealthy execs are taking out loans to pay taxes on stock market windfalls
Rather than dipping into their portfolios, executives are borrowing against their portfolios to pay taxes — and it’s been a boost to Morgan Stanley’s lending business. The head of Morgan Stanley’s executive-services unit explains why these loans make sense even for the rich.
These 21 people are powering huge growth in family offices
As global wealth surges, more people are looking to start family offices to take control of their finances. We spoke with more than a dozen industry insiders to compile a list of advisors, accountants, lawyers, and more to start a new family office. Get to know them here.
Wall Street’s return to work is saving NYC
The coasts’ diverging responses to economic reopening have exposed a sharp contrast: in New York City, finance giants’ urges to return to offices are reinvigorating neighborhoods that shut down for much of 2020, while Big Tech is letting Silicon Valley empty out. More on the coasts’ differing economic comebacks.
The pandemic has destroyed formal dress codes. Now, Wall Street workers are turning to Lululemon, Untuckit, and other athleisure brands for their return-to-office outfits. Take a look at the new Wall Street garb.
On our radar: