Banks' crypto investments - Wall Street pay frenzy - PNC caters to wealthy
On the agenda today:
- A new list shows the 13 banks that have invested the most in cryptocurrency and blockchain to date.
Wall Streetpay frenzy is going into overdrive, with some banks issuing their second pay raise in months.
- PNC is staffing up to cater to its wealthy clients in hotspots like Florida and Texas.
Let's get started.
Financial institutions are vying for a piece of the booming cryptocurrency market, and 13 of the world's largest banks have already pushed billions into crypto and blockchain companies. From Citibank to Morgan Stanley, here are the banks that have invested the most.
Guggenheim Securities just raised junior bankers' salaries for the second time in months. Meanwhile, Bank of America is giving junior bankers another pay bump, a nod to the Street's heightening talent war. Check out how much bankers are getting paid at 14 Wall Street firms as the frenzied salary hikes continue.
PNC is rebranding and staffing up its private bank to maintain its clientele - as well as capture new ones in wealth hotspots like Florida and Texas. We spoke with asset management group head Carole Brown, who told us about the push to expand.
BCG is bumping base pay for associates and first-year consultants by $10,000. The move comes as many young consultants are burning out and quitting their jobs, and consulting firms are offering bonuses, perks, and pay raises to try to retain young talent. Here's what we know about BCG's latest pay raise.
In a string of tweets, Dalio laid out four steps to making better decisions in life and work. Here's why he wants you to think like Picasso.
Quants in the US can expect to make big money - especially if they work for a hedge fund. For some candidates, base salaries can swell towards half a million dollars. Take a look at how much banks and hedge funds are offering the "rocket scientists of Wall Street."
On our radar:
- 39-year-old Shou Zi Chew got his start at Facebook, led a Chinese smartphone giant through one of the biggest tech IPOs in history, and is now TikTok's CEO. Meet him here.
- DailyPay is helping Kroger give workers early access to their paychecks, as the startup looks to become a key recruitment tool. More on that here.
- Wall Street is fretting over its clout as "champion" Governor Andrew Cuomo exits, Bloomberg reports. Why it's "a more uncertain situation than has existed in a while."
- Per Bloomberg, green fintech startup Aspiration is said to be in talks to go public through a SPAC.
- A WSJ analysis found that a self-regulatory audit system fails to safeguard charities, pension funds and private companies. Get the full rundown.
- Silicon Valley needs to stop laying off workers and start firing CEOs
- A laid-off Google engineer describes losing his 'only career' 16 years after starting as an intern
- OpenAI makes a ChatGPT-like tool called Codex that can write software. Here's why Codex won't replace developers and will instead create more demand for their skills.
- VAHAN 2023 Jan report: Here’s which company sold the most, and the least 2-wheeler EVs
- Adani group market cap jumps ₹42,000 crore on Wednesday in Adani Enterprises-led rally
- OnePlus 11 vs OnePlus 11R – price, specs and features compared
- Don't be in a hurry to prepay but plan EMIs better, say experts as home loan burden set to rise
- How to use the new sad face filter on Instagram?