Zoom nabs JPM banker - Citi DEI head's plans - BofA's new org chart
On the agenda today:
- Zoom nabbed a JPMorgan tech banker.
- Citi's head of diversity wants to shake up Wall Street.
- Bank of America revealed its new org chart after a massive leadership shakeup.
Let's get started.
After 16 years with JPMorgan, Sanjay Rao has joined video-conferencing company Zoom to head its M&A strategy. The tech investment banker joins following a year of record-breaking growth for Zoom. More on Rao, the latest Wall Streeter to jump to tech.
For Insider's first installment of The Equity Talk, we sat down with Erika Irish Brown, Citi's head of DEI. Brown discussed how she's measuring the effect of DEI at the bank - see what she told us here.
Bank of America announced sweeping changes to its leadership team earlier this month, with more than 15 leaders seeing their roles change. We've got two charts breaking down BofA's new leadership, and who's running which business lines.
Bank of America's Brian Moynihan explained the "constant fight" his new tech and ops leaders will face when cutting costs in their $14 billion budget. Even though the bank has cut the budget down by billions, Moynihan said it's still seeing client volumes grow. Here's what else he said.
Procore, a cloud-based construction-management software company, announced it will buy software firm Levelset for $500 million. The deal will help Procore solve one of the construction industry's biggest problems: getting paid. Here's what you need to know.
Jernej Omahen, Goldman Sachs' head of research for its European financial institutions group, is leaving the bank. Omahen, a partner and 20-year Goldman veteran, announced his plans to retire this week, marking another partner exit from the firm. What we know so far.
ExodusPoint Capital is looking to supercharge its macro trading business - and has poached two star portfolio managers to do so. Pablo Duran Steinman, head of macro at the family office of George Soros, will join the $14 billion fund, as will Eisler Capital's Mukesh Murarka. More on that here.
On our radar:
- When he first joined Goldman Sachs, Jernej Omahen had 42 interviews in three days, according to eFinancialCareers. More on his interview process.
- Page Six reports that billionaire John Paulson and wife are in the midst of what could be one of the most expensive divorces of all time.
- Facebook's CTO is stepping down. Here's everything we know about his departure.
- Facebook and Microsoft aren’t the only ones creating a metaverse — here are five popular coins looking to create digital worlds
- Mukesh Ambani-led Reliance Jio hikes prices of its plans by 21%
- Facebook, Microsoft and others look towards the $1 trillion dollar ‘metaverse’ opportunity — but that contradicts the base philosophy behind Web 3.0
- Meet Parag Agrawal, the IIT Bombay grad who is taking over from Jack Dorsey at Twitter
- Bankrupt Sintex Industries' stock doubles after RIL showed interest to acquire it
- Omicron COVID-19: Kerala orders 7 days quarantine for arrivals from high risk countries
- In India, less than one in every 10,000 jabs have led to serious adverse reactions — not necessarily due to the vaccine
- After taking us on a nostalgia trip by featuring 90s stars like Rahul Dravid and Jackie Shroff in its ads, CRED is back at it again, this time with Chacha Chaudhary and Suppandi