Archegos implosion - SPAC banker hiring spree - Goldman interns will work in office
Dan DeFrancesco,Jordan Parker Erb
Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:
- How Archegos pushed the limit on risky trades and sent $4 through Wall Street
- Goldman interns will be working in the office this summer, according to an $4 the bank sent yesterday
- Firms including UBS are looking to hire more $4 junior bankers
- David Lang, a Goldman partner and head of the firm's Salt Lake City office, $4
- A second $4 has put PIMCO on watch
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Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter $4.
The most striking thing about the implosion of Archegos Capital Management, the family office of Tiger Cub Bill Hwang, was not the suddenness of the crash but how innocuous its origins were. $4.
As SPAC mania continues to overtake Wall Street, UBS is looking to keep up by hiring bankers. $4
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Seth Merrin is onto a new venture: an AI system that analyzes data rapidly to find its usefulness to investors. $4
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An internal memo announced the Natural Resources and Clean Energy Transition Group, which will unite bankers within the chemicals, energy, and power franchises. $4
Goldman CEO David Solomon has been vocal about bringing employees back to the office as soon as possible. Now the bank is telling interns it plans to hold its summer program in person for everyone who can safely travel to its offices. $4.
Consultant Meketa has placed Pimco on watch over discrimination allegations, following a similar move by pension adviser NEPC. $4.
Another partner is exiting Goldman Sachs, per an internal memo viewed by Insider.
David Lang, who runs the firm's Salt Lake City office, will retire in May. $4.
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