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1. Changing of the guard.
There's an old saying on Wall Street: You can only leave Goldman Sachs once.
The bank holds a level of prestige across the Street that trickles down to its employees. Having Goldman on your résumé, especially a senior designation like MD or partner, is arguably the biggest stamp of approval you can get in finance.
Poaching talent is a longstanding tradition on Wall Street, and the path from the investment banks to the buy side is a well-worn one.
But Alex's story is more than just confirmation that these trends are alive and well. It's an indication of the shifting tides on Wall Street between the firms that traditionally held all the power (big banks) and the ones usurping them (multi-strat hedge funds).
A big reason for this so-called changing of the guard is the regulations put in place following the 2008 financial crisis. Those rules limited the risks banks could take, thus lowering the potential comp bankers could earn.
That's bound to push even more people toward hedge funds, which keep growing bigger every year, yet don't have the same regulatory oversight as their peers.
3. Credit Suisse bankers: "Get us outta here!" UBS' rescue takeover of Credit Suisse has been a boon to business for one industry: recruiters. Headhunters have been fielding calls nonstop from Credit Suisse bankers heading for the exits. More here.
10. Every item on the Taco Bell menu rated from worst to best. It's not an easy job, but someone has to do it. We ranked everything on T-Bell's menu, from the Beefy five-layer burrito to the famous crunchwrap supreme. Here's how all 54 items stacked up.
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