Fintech dealmaking is ready for prime time
Welcome back! Dan DeFrancesco in NYC.
Today, we've got stories on how to land an internship at D.E. Shaw, what's going on with Credit Suisse bankers looking for new gigs, and the airports you probably should avoid if you don't like crowds.
But first, just give me a number.
If this was forwarded to you, sign up here. Download Insider's app here.
1. Let's make a deal.
It seems the time has finally come for some M&A, and one group is ready to go.
I wrote last week about how a couple of blockbuster deals could kick off a spree of dealmaking after a long drought.
Insider's Paige Hagy and Bianca Chan identified a bunch of acquisition targets in a segment of the market that is in need of some deals: fintech.
Paige and Bianca spoke to nearly a dozen insiders to identify 27 fintechs that could be up scooped up, along with the firms that might be interested in buying them. The list spans across seven different segments, further illustrating how this is an industry ripe for transactions.
One could make the point that every industry has a backlog of potential deals, but fintech seems particularly ripe.
The pandemic, and the years of volatile market activity that followed, are partially to blame. Plenty of companies that should have gotten acquired or gone public in 2021 didn't because of the amount of money in the private markets. The following year, the market slumped, delaying things once again.
Now, it seems, we'll finally have some activity. Sure, rates are still high. But beggars can't be choosers, and many fintechs can't afford (literally) to wait much longer.
In other news:
2. D.E. Shaw's interns don't work for free. With a base salary starting at $9,000 a month, an internship at the secretive hedge fund comes with plenty of perks. Jeremy Reff, D.E. Shaw's recruiting head, details the hiring process. Here are some tips for landing a spot in next summer's intern class.
3. The best Credit Suisse has to offer. Investment bankers at the soon-to-be-acquired Swiss bank are weighing their options on their next move. We spoke to recruiters to identify the ones who will be most sought after. These are the 19 bankers who are attracting the most interest.
4. The fallacy that is work-life balance. Everyone talks about it, but is it actually achieveable? In most cases, probably not. Why trying to find a balance between work and a personal life is so hard.
5. The Mooch loses momentum. Anthony Scaramucci's SkyBridge Capital has had a tough go of it in recent years, leading investors to ask for their money back, Bloomberg reports. More on how it all went so wrong for Scaramucci.
6. Podcasts that aren't a waste of time. Take a break from listening to recaps of sports and reality TV and check out these podcasts focused on AI. Here are 11 AI-focused podcasts recommended by industry experts.
7. Where, oh where, have the PE firms gone? One group that was conspicuously absent amid the recent banking crisis was private equity. Bloomberg has details on Blackstone's failed bid for SVB, along with why PE firms largely remained out of the fray.
8. So about those JPM deals... A US regulator is auditing the spree of deals that JPMorgan made in recent years, the Financial Times reports. The news comes as questions arise regarding the bank's due diligence process following the blow-up of its deal for Frank. For the complete rundown on the 16 fintech and consumer-facing deals JPMorgan has made since 2020, click here.
9. Arrivals and departures. Airports aren't typically a place most people would consider "relaxing," but these hubs are particularly busy. These are the 10 busiest airports in the world.
10. Don't skip leg day. Having bad knees isn't an excuse to ignore leg exercises. A personal trainer shares tips for getting in a good leg workout even if you can't squat or deadlift. Check out some good alternatives.
Curated by Dan DeFrancesco in New York. Feedback or tips? Email ddefrancesco@insider.com, tweet @dandefrancesco, or connect on LinkedIn. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York.