JPMorgan makes Silicon Valley hires - Wall Street burnout spills into Big Law - Return to office updates
Happy Saturday, and welcome to Insider
- JPMorgan wants to deepen its ties to Silicon Valley - and hired five people to help
- Archegos blowup shines spotlight on the risks lurking in swaps, family offices
- SPAC insiders say PIPE financing for deals is drying up and the market needs to take a "collective breath"
- Goldman gives updates on return-to-office plans for summer interns and full-time campus hires
- Big Law associates are burned out after a year of intense hours and rapid-fire deals
Read more here.
A key piece of SPAC transactions is drying up. "We are seeing, on the PIPE front, exhaustion and being bombarded with deals and pressure to make decisions quickly," said David Goldschmidt, a Skadden partner who specializes in capital
JPMorgan poached 5 people from Silicon Valley Bank and Bank of America as it builds out teams focused on VCs and 'disruptive' commerceJPMorgan just hired four people from Silicon Valley Bank and one from Bank of America as the firm looks to do more business with startups and VCs. Read more here.
Big Law associates are burned out after a year of rapid-fire deals and intense hours. Special $60,000-plus bonuses may not be enough to keep them.
Wall Street return to office updates
- Barclays just told its global 2021 internship class that their 8-week summer gigs will be virtual again this year
- Goldman Sachs told interns they'll officially be working in the office following a one-week virtual training program
- Goldman Sachs is telling full-time campus recruits to expect some in-person orientations this summer and recommending they move close to the firm's offices
- JPMorgan told New York- and London-based investment-banking and sales and trading interns to get ready to head to the office
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