Lasry steps down from Ozy - Cohen's crypto spree - BofA hiring plans
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On the agenda today:
- Marc Lasry has stepped down as Ozy Media's chairman.
- Steve Cohen's crypto investing spree continues.
- BofA makes a new commitment to hiring from low-to-moderate income communities.
Let's get started.
Marc Lasry has stepped down as chair of Ozy
Hedge fund billionaire Marc Lasry said he's stepping down as chairman of Ozy Media, days after standing by the company's handling of a chief operating officer who was caught impersonating a YouTube exec on a fundraising call with Goldman Sachs. Read what he told us about his decision to step down.
Steve Cohen's crypto investing spree continues
Billionaire Steve Cohen's Point72 Ventures just led Zero Hash, a startup helping fintechs offer digital currencies, to a $35 million Series C. Get the lowdown on Zero Hash and Cohen's investing spree.
BofA expands plans to hire from low-to-moderate income communities
Bank of America has surpassed its five-year goal set in 2018 to hire 10,000 new employees from low-to-moderate income backgrounds, and is now planning to recruit 10,000 more employees by 2025. Here's an inside look at the plans.
JPMorgan's commercial banking CIO will lead product
Anish Bhimani, JPMorgan's CIO for commercial banking, was just promoted to chief product officer for commercial banking. Bhimani's move from chief information officer to CPO is the second such move at the bank this month, as JPMorgan turns to tech execs to lead its product teams - a nod to the importance Wall Street puts on digital experience. More on the CIO to CPO pipeline.
The unit policing PE firms is shrinking
SEC chief Gary Gensler put the private-equity industry on notice - but new figures show the unit that polices those firms is shrinking. The SEC department that regulates private-equity and hedge fund misconduct has dwindled by about 16 percent over the past six years. What we know about the decline in its staffing levels.
BofA has a new global head of fixed-income sales
Bank of America has promoted Denis Manelski to the role of global head of sales for fixed income. He'll take over the role from Sanaz Zaimi, who announced her departure in September. More on that here.
On our radar:
- A former Goldman Sachs employee who quit her $150,000-a-year job to become a Medicare coach explains why she'd never go back to corporate life.
- Citi says Revlon lenders could have avoided the legal brawl unfolding by simply calling the bank, Bloomberg reports. More on that here.
- According to AdvisorHub, Merrill Lynch has stripped about 200 would-be advisors of their clients. What we know so far.
- Charles Schwab's CEO has promised an investigation into sexual harassment claims made in a TikTok video, per Financial Advisor IQ. Get the details.
- BlackRock is going to start its return-to-office pilot program on Oct. 1, according to Bloomberg. Get the full rundown here.
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