Wells Fargo's mortgage banker exodus - Wall Street's return to office - Crypto talent war
Happy Saturday, and welcome to Insider
- Wells Fargo is experiencing an exodus of some of its top mortgage bankers. Insiders detail why.
- Money managers are on the hunt for crypto talent as digital assets go mainstream.
- Blackstone has set a date for when it wants employees back at their office desks.
- Marc Lipschultz, Owl Rock's cofounder, details how its merger with Dyal Capital could help it rival banks.
- Wall Street may be sporting a new look as bankers stock up on more comfortable work clothes.
- D1's Dan Sundheim is switching up his shorting strategy after being hit by January's WallStreetBets frenzy.
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Micromanagement, surprise employee investigations, and email surveillance: Why top mortgage bankers are quitting Wells Fargo in the middle of a red-hot housing market
More than 20 top mortgage lenders at Wells Fargo have left in the past year. Insider has the details on the heavy oversight culture and clunky technology that led to the exits.
Blackstone just told US investment professionals to report to the office, and the private-equity giant has spent $20 million on safety precautions such as paying for cabs to workBlackstone is planning a full return to the office on June 7, President Jon Gray said on an internal Monday-morning call. See all the details here.
Recruiters are seeing an uptick in searches for crypto roles as legacy firms such as Morgan Stanley and UBS wade into the space. Here's how the battle for talent in the emerging industry is shaping up.
For more on digital assets:
- Here's how asset managers are addressing big investors' concerns about crypto's massive carbon-emission conflict.
- SEC Commissioner Hester Peirce said the agency created an 'investor protection problem' by not approving a bitcoin ETF.
This summer, Wall Street is getting comfortable and colorful - and everyone wants something stretchy to wear when they go back to the office
Wall Streeters are set to redefine office attire, whether they're seeking out color and patterns to show off their personality at work or opting for something a bit more comfortable. Here's what bankers are stocking up on.
Carlyle is tying employee bonuses and CEO comp to successfully meeting goals around diversity, equity, and inclusion at the PE giant
The Carlyle Group plans to recognize employees who are advancing the firm's goals advocating for diversity, equity, and inclusion with monetary incentives. Kara Helander, Carlyle's chief inclusion and diversity officer, told Insider why.
Blue Owl is taking on big banks in funding tech buyouts. The president of the business created by the Dyal-Owl Rock SPAC deal shares how he plans to become 'a lender of first choice.'
Owl Rock and Dyal Capital's Blue Owl SPAC merger is nearing completion. Here's how the new company is targeting further growth in private lending.
RBC Capital Markets and Guggenheim Securities just announced the latest junior-banker raises on Wall Street amid a battle to hang on to young talent
Two investment banks are joining the bevy of financial-services firms rolling out special perks and raises to hang on to junior talent. Here are all the details.
Wall Street people moves
- Deutsche Bank nabbed a 21-year veteran of Morgan Stanley for its global industrials group.
- See our full rundown of hires, promotions, and exits here.
Other stories readers loved this week
- Public.com is offering up SPAC-specific data to users. The $1.2 billion fintech's COO explains why it's trying to simplify complex blank-check deals for investors.
- Rising-star equity analysts give their 18 favorite stock picks of the moment, and explain why they recommend buying each one.
- Citigroup is zeroing in on clients moving toward clean energy in what a senior banker described as a "super-mega trend."
- A rising star at the $8.8 billion Perceptive Advisors breaks down why the biotech hedge fund is so bullish on BridgeBio.
- NBA star C.J. McCollum is shooting for billionaire status. He told us how he invests and whom he calls for advice.
- Elon Musk sparks another Shiba Inu rally ‘to the moon’ — other Shiba coins follow suit
- Elon Musk’s puppy, a new strategy to burn tokens, and altcoins playing catch up — the perfect storm for cryptocurrency Shiba Inu to skyrocket
- Chinese smartphone brands under scrutiny, government to check components, pre-installed apps: Report
- Best AMD desktop processors — which one to buy in India?
- Best AMD Ryzen laptops in India
- Best TVs with HDR support in India
- Bored Ape NFT sells for $2.7 million, making it the most expensive in Yacht Club collection
- Startup salaries have increased over 40% in the last six months