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Wall Street needs a new kind of talent suited to a new kind of world
Wall Street has been a recurring subject in our current presidential campaign, and not in a good way. It should be otherwise. The campaigns of both major parties have started a national conversation...
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Credit Suisse CEO: We're at the trough
It's been a tough 2016 for Credit Suisse.The bank, Switzerland's second biggest, reported a loss of CHF302 million ($311 million) for the first quarter of the year, down from a CHF1 billion profit for...
View ArticleHow Merrill Lynch changed the way people are paid on Wall Street
Bank of America acquired Merrill Lynch in 2012, but the latter firm's legacy is still present in the world of finance. Edward Morris, author of "Wall Streeters: The Creators and Corrupt ors of American...
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Legendary hedge fund manager Jim Simons made $1.7 billion last year ― here's...
Jim Simons, the investor who founded the hedge fund Renaissance Technologies, made $1.7 billion last year, according to Institutional Investor.Simons ranked second on the publication's annual hedge...
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The computers have won, and Wall Street will never be the same
The computers have won.Institutional Investor just released its annual list of the top-earning hedge fund managers, and six of the top eight are quants, or managers who rely on computer programs to...
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The Wall Street establishment is fighting back (WFC)
We've all heard about how fintech companies are threatening to disrupt traditional finance.Now the tables have turned.Wells Fargo announced on Tuesday that it will start providing online loans for...
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It turns out a bullish signal for Wall Street isn't really that accurate
Mention the word pipeline to anyone who has spent any amount of time writing about Wall Street, and you'll get a knowing look. At investment banks, it refers to deals that are yet to be announced, but...
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Billionaire Ken Griffin: 'We are more and more in a winner take all world'
Ken Griffin, the billionaire founder of high-frequency trading firm Citadel, says that he and everyone else on Wall Street are "more and more in a winner-take-all world."He made these comments in a...
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Inside the Wall Street charity day where celebrities and star athletes...
Trading firm BTIG held its 14th annual Commissions for Charity day on Tuesday, and a slew of celebrities flocked to the trading floors.The baseball player Alex Rodriguez, model Petra Nemcova,...
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John Boehner has one word of advice for Wall Street: 'plastics'
At the SkyBridge Alternatives conference in Las Vegas, former House Speaker John Boehner advised the Wall Streeters in attendance about how to improve their industry's public image: Take a page from...
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I went to the biggest Wall Street party of the year and everyone was miserable
You know, it was almost funny. It was the biggest party on Wall Street — a three-day fete that involves heads of state, celebrities, party after party, and tons and tons of casino time — and the entire...
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A bunch of junior bankers pretended to be startup founders for a day — here's...
"Does anyone know on average what it costs to build a drone?" a young man asked a group of twenty-somethings gathered in a colorful coworking space in Manhattan's Flatiron District.He was using an...
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UBS just invested in a tech startup, and it's looking to do more deals
UBS's US wealth-management business is partnering with the San Francisco-based robo-adviser SigFig.Robo-advisers use software to make investment-allocation decisions, and SigFig will develop "digital...
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The richest Wall Streeters in the world want you to give up your billionaire...
There are only so many ways to make billions of dollars on Wall Street.This is what we call "f--- you money."This is the kind of money you can buy a plane with. That plane can take you anywhere you are...
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Here are the most profitable businesses on Wall Street
Boston Consulting Group published a big report on the investment-banking industry on Tuesday.Buried in the appendix is the chart below, which shows operating profit by business line across Wall...
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Wall Street stars keep leaving the industry, and it's becoming an expensive...
Investment bankers are increasingly leaving Wall Street to work for the companies they advise — and it's starting to hurt the banking industry in more ways that one.JPMorgan's Alejandro Vicente, a...
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Jefferies just hired 5 big-name tech bankers from Credit Suisse
Jefferies just poached five top technology-investment bankers from Credit Suisse.All five were previously managing directors at Credit Suisse.The new hires include:Cully Davis joins Jefferies as a...
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Chinese companies are on a buying spree — and Wall Street bankers are rushing...
Chinese companies have been buying up foreign businesses, including in the US, at an unprecedented rate— but they could probably use a little help.That's according to Goldman Sachs' cohead of global...
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The power on Wall Street is changing hands
Investment banks are having a tough time.The rest of Wall Street, not so much.That is the takeaway from a big report out from Boston Consulting Group on the capital-markets and investment-banking...
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The data geeks are taking over Wall Street
Wall Street is changing — fast.Investment banks are having a torrid time. Investors are in the ascendancy. Technology is changing everything.Boston Consulting Group tackled some of these issues in a...
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