Over the past year, red-hot trading app Robinhood has hired lawyers and some of the most well-connected law firms in the US to negotiate deals, scale up its compliance efforts, and spar with regulators.
The company is also looking to make more hires, including lobbyists and lawyers who can advise on transactions, fundraising and the process of going public, job listings show.
Morgan Stanley just named 171 new managing directors, its largest pool of promotions in recent years.
At the firm, MD is the most senior designation underneath the C-suite, and among the most elite designations on all of Wall Street. Members of the new MD class this year have an average tenure of 10 years with Morgan Stanley.
After a review that lasted through the holidays, the gaming startup raised $520 million in a private share sale this month and began discussions with the SEC to shift its transaction into a direct listing. It's also tapped GTS to serve as the designated market maker.
The company, which provided an array of novel data sets to prominent hedge funds, said it would shift its focus to "accelerating our acquirer's core product roadmap" and would wind down or divest products that didn't fit with that mission, according to a memo to clients from CEO Brian Lichtenberger.
"Effective today, 7Park Data will discontinue products we deliver to clients in the investment vertical," Lichtenberger wrote. "I recognize that this may be disruptive information for you, your workflow, and your organization."
You can add another deal to the growing SPAC frenzy.
Personal finance app SoFi announced plans in early January to go public via a merger with a SPAC backed by Social Capital head and billionaire Chamath Palihapitiya. The deal would value SoFi at nearly $9 billion.
SCH analyzed over 100 potential business combination targets, connecting with 33 of them to discuss a potential deal, a filing noted.
Theranos 'dumped' a useless, double-encrypted blood-test database on prosecutors, then destroyed the original, Feds say
Billionaire Seth Klarman's Baupost returned less than 5% in 2020, failing to break double-digits returns in what's been called the best year for hedge funds since 2009
JPMorgan CEO Jamie Dimon wants to win the war against fintechs, expecting 'tough, brutal' competition in the next 10 years
George Soros-backed fintech dv01 just raised more money and made a key acquisition. Here's how it's looking to shed light on the murky securities at the heart of the last financial crisis.
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