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Inside Visa Equity Partners — Election whale trade — Asset managers' M&A playbook

Nov 2, 2020, 17:30 IST
Business Insider
Reuters / Lucas Jackson

Welcome back.

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Buckle up for what should be a wild week.

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.

Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco.

The curious case of the market whale

Win McNamee/Getty Images

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Speaking of the election, Alex Morrell has a great story on a single investor making some big waves.

The mystery investor has spent more than $300 million in a week on tens of thousands of S&P 500 call spreads.

Alex has a breakdown on what it all means from experts in the space.

Click here to read the entire story.

Inside Vista Equity Partners, where a top exec is negotiating a messy exit

Vista Equity Partner founder Robert Smith and president Brian ShethMichael Loccisano/Getty Images; Michael Kovac/Getty Images

Dakin Campbell and Casey Sullivan with a great look into Vista Equity Partners. Get the rundown on what's going on as Vista president Brian Sheth negotiates his exit from the private-equity firm. Read the whole story here.

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ByteDance quietly leased 'massive' US data centers in 2020

If a TikToker wanted to make a TikTok but didn't have a spare friend, many used tripods.Kat Tenbarge/Insider

Nice scoop from Paige Leskin and Daniel Geiger about TikTok parent company ByteDance leasing data-center space in northern Virginia. Get the full rundown here.

Fab Gallo, Wall Street's longest-tenured equities chief, is leaving Bank of America

NEW YORK, NEW YORK - MARCH 05: COO Bank of America Tom Montag speaks onstage during the 2020 Embrace Ambition Summit by the Tory Burch Foundation at Jazz at Lincoln Center on March 05, 2020 in New York City. (Photo by Craig Barritt/Getty Images for Tory Burch Foundation)Craig Barritt/Getty Images for Tory Burch Foundation

Another nice people move from Alex Morrell. Read up on Fabrizio Gallo's departure as global equities chief from Bank of America. Read more here.

Franklin, Invesco, Janus, and other money managers are prepping for the next wave of deals

Franklin Templeton

Bradley Saacks and Rebecca Ungarino have a nice breakdown of the deal-making convos taking place at asset managers. Read up on what executives are saying about M&A. Click here for the full story.

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Odd lots:

Exclusive: Rashida Tlaib and AOC have a proposal for a fairer, greener financial system — public banking (Vox)

Google is making a change to its earnings report next quarter that shows just how important cloud computing has become to its business (BI)

Amazon expects $4 billion in COVID-related expenses this quarter — but its CFO says it's mostly coming from indirect costs like 'productivity drags' (BI)

FTI Consulting saw a dip in its restructuring business that led it to cut the firm's revenue outlook. Here's why it still hired hundreds of new staff. (BI)

JPMorgan, Goldman Order Software 'Code Freezes' Around Election (The Information)

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