Lazard's key to hybrid work - Point72 all-in on the cloud - Citadel outpaces rivals
On the agenda today:
- Lazard's advisory CEO thinks he's found the key to successful hybrid work.
- Point72 is undergoing a massive overhaul to transform into a cloud-first operation.
- Citadel has outpaced its multi-strategy rivals so far this year.
Let's get started.
Lazard advisory CEO Peter Orszag thinks he may have found the key to a successful hybrid return-to-office plan. Starting in October, Lazard bankers will come into the office three days a week, and will work remotely on Mondays and Fridays. Why Orszag thinks it may be the secret to hybrid work.
Point72 is in the middle of a five-year plan to turn the $21.8 billion hedge fund into a cloud-first operation. Expected to wrap up in 2024, the project aims to migrate 70% to 80% of the hedge fund's cloud-eligible applications to the new tech. The firm's chief technology officer walked us through the process.
Ken Griffin's $38 billion hedge fund is up nearly 10% for the year - and is outstripping multi-strategy rivals like Millennium, Point72, and ExodusPoint. Here's what you need to know.
Rockefeller hired three new managing directors in under a year to grow its strategic advisory arm, which has quietly been nabbing credit on multibillion-dollar deals. We spoke with two managing directors, who shared their plans for expansion - and outlined which sectors are hot for M&A.
In the midst of China's regulatory crackdowns, big-name investors are turning to these 10 China-focused analysts, strategists, and short-sellers for guidance. Here's how strategists from BCA Research to Gavekal are approaching China.
On our radar:
- Staffers of the country's top real-estate broker say she threw things at them and made employees' lives miserable. What it's like to work with the Queen of the Skyscrapers.
Wall Streetis preparing for a flood of IPOs, according to Axios. More than 100 companies are expected to go public by the end of the year.
- Per Bloomberg, Morgan Stanley is expanding its program to hire more Black and female staffers to London. More on that here.
- WSJ writes that banks are on track for the busiest year ever, thanks to a months-long deal spree.
- State Street has agreed to buy Brown Brothers Harriman Investor Services for $3.5 billion, WSJ reports. The deal is the bank's largest since it bought Charles River three years ago.
- India’s techies are leaving IT firms in hordes — Here’s why
- Elon Musk’s puppy, a new strategy to burn tokens, and altcoins playing catch up — the perfect storm for cryptocurrency Shiba Inu to skyrocket
- A renowned female crime novelist who won a million-euro prize in Spain turned out to be three middle-aged men
- India’s central bank imposes ₹1 crore penalty on the country’s biggest lender
- Elon Musk sparks another Shiba Inu rally ‘to the moon’ — other Shiba coins follow suit
- Amazon's campaign encourages customers to thank its associates and share their happiness with frontline teams
- Brazilians bought more than $4 billion in cryptocurrencies this year as the country looks to regulate Bitcoin
- If you are a pensioner, you can submit Jeevan Pramaan sitting at home — Here is what you need to do