Exodus at Goldman Sachs' Marcus

Exodus at Goldman Sachs' Marcus
"Bitcoin Bull" by Trevor Jones.Trevor Jones

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

If you want to read about private jets and mega-mansions, sign up for our Insider Life newsletter - our weekly digest of all things luxury, travel and real estate

If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.
Advertisement
Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco.

Burnout, blown deadlines, and a tech-talent exodus: How Goldman Sachs' Marcus is struggling to live up to its lofty consumer-banking ambitions

81968446

Employees of Goldman Sachs' consumer business Marcus are quitting in droves as they feel the effects of burnout and top-down management.

See what's causing an "avalanche" of exits at Marcus.
Advertisement


Goldman Sachs interns are scrambling to find housing in New York City this summer as the bank prepares them to head into the office

81968451

Goldman Sachs recently told incoming interns they'll work in the office this summer, sparking a frenzy among students who are searching for housing. We spoke with two incoming interns who detailed the hunt for housing in New York City. Here's what they told us.

JPMorgan CEO Jamie Dimon says remote work can undermine the 'character' of a company and lays out the bank's plans for the future of the office

81968452

Jamie Dimon is ready to get back to in-person work, and laid out his return-to-office plans in his annual shareholder letter. These are some of the letter's key takeaways.
Advertisement

IBM's cloud head lays out the tech giant's future plans and the biggest opportunities for increasing adoption of the cloud on Wall Street

81968454

IBM announced the wide release of its financial services-focused cloud offering. Howard Boville, head of IBM's hybrid cloud, discussed the opportunity for the tech on Wall Street.


Humana just poached a veteran Goldman Sachs banker to lead M&A and corporate development

81968457

After 18 years at Goldman, former banker Logan Nicholson has left to lead Humana's corporate development and M&A team. More from his move here.


Houlihan Lokey poached 2 healthcare dealmakers from RBC Capital Markets in London as the investment bank gears up for a wave of M&A in the sector

81968458

Houlihan Lokey, Wall Street's top restructuring bank, is making several key hires to buttress its European healthcare team. Meet its two newest hires.
Advertisement

Lazard just told its incoming investment-banking summer interns their program will be virtual, as the bank eyes a broader, hybrid return to office after Labor Day

81968459

Lazard's incoming investment-banking interns in the US will work virtually. Get all the details, along with Lazard's broader plan for a return to the office, here.


Plaid just raised $425 million at a $13.4 billion valuation, bringing on new investors Altimeter, Silver Lake, and Ribbit as it eyes an eventual IPO

81968460

Plaid, the data aggregator behind financial apps like Venmo and Robinhood, just nabbed a new round of funding in the wake of its deal with Visa falling apart. Here's what you need to know as it eyes an IPO.
Advertisement

Larry Fink doubles down on urging companies to disclose net-zero plans as BlackRock's own policies come under a microscope

81968463

In his annual shareholder letter, BlackRock's Larry Fink emphasized a call for private companies' disclosures. Get the full rundown from the CEO's letter.

Goldman Sachs responded to burnout fears in its consumer division by making evenings and Fridays 'audio only,' encouraging staff to go for walks and talk on the phone instead

81968464

In an attempt to combat Zoom fatigue, Goldman's consumer business instituted "audio only" evenings and Fridays, an idea that was laid out in an internal memo. See the full memo here.


Odd lots:

SEC Accuses Actor of $690 Million Fraud Based on Fake Netflix Deal (Bloomberg)
Advertisement

Rockefeller Capital Management Adds Derek Jeter To Board After Growing To $75 Billion In Three Years (Forbes)

JPMorgan CEO Jamie Dimon says bureaucracy is 'crippling' the US and hindering progress (Insider) The pandemic has minted five new billionaires as online shopping boosts 'buy now, pay later' companies (Insider)
Advertisement

Visa's PAC gave politicians $139,0000 in March after vowing to pause contributions because of the Capitol insurrection (Insider)

Instacart and DoorDash Plan to Launch Their Own Credit Cards (WSJ)

SEC official warns on red-hot SPAC market and says the blank-check firms have significant and undiscovered issues (Insider)
Advertisement

Meet Christian Meissner, the Credit Suisse exec who just became head of its investment bank (Financial News)

{{}}