Klarman pumps SPACs - Citi's $500 mln blunder - Goldman launches DIY investing
Good morning and welcome to Insider
- Billionaire Seth Klarman has placed big bets on SPACs - here's the rundown.
- Goldman execs Sonali Divilek and Andrea Finan take us inside the bank's newly launched robo-advisor.
- Citi can't claw back the $500 million it mistakenly wired to Revlon's lenders.
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Billionaire Seth Klarman's Baupost pumped nearly $200 million into 6 new SPAC bets in the fourth quarter
SPACs are hot right now, and billionaire Seth Klarman has been a big backer of the blank-check companies. The founder of the Baupost Group has put hundreds of millions into SPACs, including ones run by Dan Och and Dragoneer CEO Marc Stad.
Click here for the full story.
Goldman Sachs execs lay out plans for its new robo-advisor as it takes on fintechs like Wealthfront and Betterment in a fiercely competitive space
Goldman Sachs' Marcus officially launched its robo-advisor, marking the next step in the bank's attempt to appeal to Main Street. Sonali Divilek and Andrea Finan, executives overseeing the roll-out, laid out the product's plans. Click here to get the rundown.
Longtime Goldman Sachs trading exec Michael Daffey is out, joining a stream of partners heading for the exit. Read the full memo from CEO David Solomon on the departure.Another Goldman Sachs' veteran is departing the prestigious
Morgan Stanley's diversity accelerator is doubling in size and increasing its investments in the startups. An exec explains why the program has been so successful.
Morgan Stanley is expanding the number of participants and size of investments for its Multicultural Innovation Lab. Read more here.
Fintech startup Marqeta, valued at $4.3 billion, has confidentially filed paperwork to go public
Get the scoop on the latest fintech to eye the public
Citigroup loses its bid to recoup the $500 million it accidentally paid Revlon (BI)
Robinhood's CEO is reportedly staying at a hotel instead of going home after receiving death threats (BI)
UBS investment banking co-president Robert Karofsky will become sole head following the departure of Piero Novelli (BI)
NYSE president Stacey Cunningham says the stock market is not a casino - and exchange officials have not been asked to testify at the upcoming GameStop hearing (BI)
Ex-Goldman Sachs banker Gregg Lemkau likely to keep hiring at MSD Partners (eFinancialCareers)
Morgan Stanley creates bot that does junior analysts' work - faster (American Banker)
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