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Premium Finance 2021-04-17T12:15:00Z
diversity and inclusion on wall street 4x3

4 minority-owned banks reveal how they're overcoming Wall Street's 'woeful' lack of diversity to play a bigger role in investment banking right now

Minority-led banks are coming into light, and corporate America is listening as social-justice issues foster diversity and inclusion initiatives.
Premium Finance 2021-04-16T15:11:28Z
FILE PHOTO: People walk past a HSBC signage in Singapore October 8 2019. REUTERS/Feline Lim

HSBC is letting US interns pick between in-person and virtual work schedules for its 10-week summer program

The voluntary in-person program for New York-based interns will include virtual Fridays and incorporate meet-and-greet events and lunches.
Premium Finance 2021-04-16T12:00:00Z
carlyle group top dealmakers 4x3

Carlyle is integrating its buyout and growth teams to turbocharge its investment strategy. Meet 13 of the top investors leading the $43 billion vision.

The Carlyle Group is integrating its US buyout and growth-investment strategies under the leadership of Sandra Horbach and Brian Bernasek.
Finance 2021-04-18T15:00:00Z

AI in Insurance: How three forward-looking insurers are infusing AI into their front, middle, and back offices

Insider Intelligence assesses the business impact of forward-looking insurers implementing AI in their front, middle, and back offices.
Tech 2021-04-18T14:18:56Z
Finance 2021-04-18T13:01:00Z

CASE STUDY: How Goldman Sachs changed the retail banking game — by entering it

Business Insider spoke with Omer Ismail, US head of consumer digital finance for Goldman Sachs, about how the firm is disrupting retail banking.
Opinion 2021-04-18T11:48:00Z

The Archegos meltdown caused huge messes at some of the world's largest banks — but it also proved the post-financial crisis rules made us safer

Regulations on the levels of capital banks must hold prevents sudden losses from spelling doom for individual banks and the broader financial system.
Markets 2021-04-18T11:24:36Z

Bitcoin plummets more than 10% in its biggest drop in months, just days after reaching a record high

Bitcoin reached a low of $51,300 after it dropped more than $7,000 in a single hour, before recovering slightly. It hit nearly $65,000 in the week.
Finance 2021-04-18T11:01:00Z

THE PAYMENTS ECOSYSTEM: The biggest shifts and trends driving short- and long-term growth and shaping the future of the industry

In this report, Business Insider Intelligence examines the payments ecosystem today, its growth drivers, and where the industry is headed.
Finance 2021-04-18T03:34:53Z

A New York City investment manager has been charged with stealing over $2.4 million through PPP loans

Gregory Blotnick is accused of transferring a "vast majority" of the money he got from five PPP loans to his personal trading accounts.
Finance 2021-04-17T21:01:00Z

AI IN BANKING: How forward-looking banks are using maturing AI solutions to design both customer- and employee-facing innovations

This report identifies AI use cases transforming the way FIs operate, the business impact of those use cases, and real-world examples of each.
Finance 2021-04-17T12:00:00Z

Insider Finance: All-expenses-paid vacations for bankers; JPMorgan Chase poaches Marcus exec

Top finance news: JPMorgan poaches Marcus exec, Morgan Stanley reveals Archegos hit, Carlyle power players, and Houlihan Lokey vacations.
Premium Finance 2021-04-17T12:00:00Z

Must-know promotions, exits, and hires at firms like Goldman Sachs, JPMorgan Chase, and Citi

Michael Daffey joins Galaxy Digital Holdings as chairman; Carlyle taps Brian Bernasek as US buyout and growth co-head; Phil Sieg named CEO of JPMorgan Advisors.
Finance 2021-04-16T21:00:00Z

The Death of Cash

The Death of Cash report projects what the payments ecosystem will look like through 2024 by examining digital payment proliferation's driving forces.
Markets 2021-04-16T19:08:52Z

Jim Cramer bought bitcoin when it was worth $12,000 — and said he recently sold half his 'phony' portfolio to pay off a mortgage

"I paid off a mortgage yesterday with it," the 'Mad Money' host said Thursday on CNBC, adding that selling half his portfolio helped him.
Premium Finance 2021-04-16T15:52:09Z

Jake Siewert, Goldman Sachs' head of corporate communications and a key architect behind the firm's rebrand, is exiting to join Warburg Pincus

Jake Siewert, global head of corporate communications at Goldman Sachs, played a key role in the firm's rebrand following the financial crisis.

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Premium Finance 2021-04-16T15:05:01Z

Morgan Stanley execs defend how the bank navigated the Archegos disaster as analysts grill them on a surprise $911 million hit

Analysts probed Morgan Stanley CEO James Gorman about a loss tied to the collapse of family office Archegos disclosed in the bank's Q1 earnings.
Premium Enterprise 2021-04-16T14:50:00Z

The IRS saved 25,000 hours of work by adopting new technology to automate code testing and releases

The IT firm Citizant is using DevOps technology — including CloudBees CI and OpenShift — to help the IRS speed up its code releases and processes.
Premium Finance 2021-04-16T13:47:45Z

KPMG's US CEO shares how the 'Big 4' firm is thinking about the future of work, returning to the office, and burnout

Paul Knopp told Insider that companies are making long-term investments in sustainability and diversity, equity and inclusion programs.
Finance 2021-04-16T13:20:55Z

Bank of America saw a substantial uptick in appointments scheduled through digital channels

Bank of America's digital channels and technologies such as Erica saw a significant rise in customer usage in Q1 2021.

Wall Street gave $43.5 million to GOP lawmakers who voted to overturn the presidential election

Wall Street gave $4.8 million in both individual and PAC donations to Rep. Kevin McCarthy of California in the 2019-20 cycle, per an AFR report.
Finance 2021-04-16T13:02:00Z

Identify which digital banking features and categories are most valuable to customers

Download a free preview of Insider Intelligence's UK Neobank Competitive Edge Report to see which digital banking features are important to consumers.
Finance 2021-04-16T12:48:00Z

N26 makes European insurance push to lure in new paid users

N26 adds phone insurance for German customers, and the offering should attract new users to the neobank's subscription accounts.
Finance 2021-04-16T12:34:00Z

Retail spending boom spurs Q1 volume recovery for Bank of America, Citi, and Wells Fargo

Bank of America, Citi, and Wells Fargo experienced card volume recoveries thanks to a retail spending boom and improving pandemic conditions.
Finance 2021-04-16T12:03:00Z

PPP SMALL BUSINESS LOANS: How $525 billion in coronavirus-linked loans were spread across lenders, states, and industries

In the final of three updates, Insider Intelligence looks at how different lenders fared at implementing the PPP.
Premium Finance 2021-04-16T12:00:00Z

Carlyle just appointed a new co-head of its US buyout and growth team to help spearhead $43 billion for megadeals and early-stage plays

Carlyle will combine its US buyout and growth team, integrating the firm's six main investment verticals and heightening collaboration across sectors.
Politics 2021-04-16T11:29:51Z

Wall Street spent a record $2.9 billion on political contributions and lobbying in 2019 and 2020, a new study shows. Here's who spent, and received, the most cash.

Financial-services firms spent much more on Biden than on Trump, and Bloomberg LP spent more than any other firm, data suggests.
Finance 2021-04-16T11:01:00Z

[FREE SLIDE DECK] Accelerator Snapshot: Wells Fargo

Insider Intelligence details the goals, operations, and notable participants of Wells Fargo's fintech accelerator program.
Finance 2021-04-16T09:50:00Z

Insider finance: Investment banks with the worst hours

The top finance stories for April 16, including the latest news on a recent survey detailing burnout among the biggest investment banks.br
Markets 2021-04-16T02:50:18Z

Robinhood back online after 'experiencing issues with crypto trading,' sparking users' outrage amid massive Dogecoin rally

"Like others, we were experiencing unprecedented demand for Robinhood Crypto services. We've resolved the issue and apologize for the inconvenience."
Finance 2021-04-15T23:05:00Z

The Future of Fintech: AI & Blockchain

In this slide deck, Insider Intelligence explores the opportunities and hurdles of adopting the two technologies within financial services.
Markets 2021-04-15T22:07:49Z

An Uber shareholder is demanding more transparency about the impact of the company's lobbying efforts

The Teamsters General Fund wants Uber investors to demand more info about what it called "highly innovative" but "controversial" grassroots lobbying.
Finance 2021-04-15T22:03:00Z

THE PAYMENTS ECOSYSTEM: The biggest shifts and trends driving short- and long-term growth and shaping the future of the industry

In this report, Insider Intelligence examines the payments ecosystem today, its growth drivers, and where the industry is headed.
Premium Tech 2021-04-15T21:31:43Z

Legendary investor Ron Conway tells us Coinbase is the new Google. Here's what that means for the next wave of startup founders.

Just like Netscape kicked off the dot-com era, Coinbase is ushering in a boom for crypto startups, Silicon Valley legend Ron Conway told Insider.
Finance 2021-04-15T19:04:00Z

See the forces driving digital transformation in the insurance business

Insurers have long lagged behind other industries when it comes to digital capabilities, but industry disruption is nearing a tipping point.
Premium Finance 2021-04-15T19:00:00Z

From 100-hour weeks to deteriorating mental health, nearly 500 employees at top investment banks reveal the extent of burnout among junior talent in a new survey

Overworked and tired, about a quarter of investment bankers surveyed are more likely than not to leave their current employer in the next six months.
Premium Finance 2021-04-15T18:24:37Z

Merrill Lynch's advisor force is shrinking and junior hiring has slowed. Now the firm is looking to make changes to its key training program.

Merrill's dip in financial advisor headcount was due primarily to pulling back development program hiring, a senior executive told Insider.
Premium Finance 2021-04-15T18:24:23Z

These 6 fintechs are betting consumers want to earn crypto rewards from their spending in lieu of points and miles

From prize wheels to 3% Bitcoin back, here are the ways that fintechs are working crypto into their rewards programs.
Premium Law 2021-04-15T18:13:20Z

Anonymous Coinbase users who made $100 million are still being hunted by IRS

The IRS is still trying to identify hundreds of Coinbase users from a 2018 data production. Some used fake names, and others left addresses blank.
Premium Finance 2021-04-15T17:26:32Z

The CFO of Citi, the top SPAC bank this year, is predicting 'normalization' in the blank-check frenzy

Citi reported a surge in investment-banking revenue underpinned by SPAC issuance. But the blank-check boom might not run much longer.
Finance 2021-04-15T16:05:00Z

US Banking Channel Forecast: How shifting consumer habits and the coronavirus pandemic are reshaping banking usage

The US Banking Channel Forecast identifies major drivers and inhibitors of banking channels that are gaining or losing popularity.
Finance 2021-04-15T15:01:00Z

Insurance Technology Spend Forecast: What's Driving Growth for P&C and Life Insurers in the US, UK, and Canada

Insider Intelligence forecasts the trajectory of US, UK, and Canadian P&C and life insurers' IT/technology investment between 2020 and 2024.

The ultimate guide to US marijuana legalization: The key dates to know in each state, and which stocks could benefit the most

New York, Virginia, and New Mexico just passed marijuana legalization, and Democrats in Washington back cannabis too.
Premium Finance 2021-04-15T13:46:29Z

Crypto salaries revealed: From $60,000 to $400,000, here's how much you could earn working in cryptocurrency

Insider collected the expected salaries for various roles at crypto at firms like Coinbase, which pays $160,000 for backend engineers.
Premium Finance 2021-04-15T13:38:57Z

Citi CEO Jane Fraser is making her mark, exiting markets across Asia and Europe and shuffling leadership in its new wealth division all with an eye on attracting the ultra-rich

Citi announced during its first-quarter earnings it is exiting 13 consumer markets, including Australia, China, India, Korea, and Russia.
Finance 2021-04-15T13:34:27Z

Wells Fargo's branch footprint moves under 5,000

Wells Fargo's branch count in Q1 dropped 3% from the previous quarter, complementing its broader streamlining efforts and matches an industry trend.
Media 2021-04-15T13:00:00Z

Sign up for the Chart of the Day Newsletter

The Chart of the Day newsletter is a daily email packed with data and key statistics on the biggest trends in today's most disruptive industries.
Finance 2021-04-15T12:48:00Z

Insurtech Clearcover raises $200 million to further boost global funding

Clearcover's $200 million raise follows a flurry of insurtech mega-rounds this year, and is rumored to have pushed its valuation over $1 billion.
Finance 2021-04-15T12:35:00Z

Chase reports Q1 volume upswing, signaling light at the end of the tunnel

Chase's consumer credit and debit card volume sprang up 9% annually in Q1 2021—a major jump compared with the 1% YoY growth it posted in Q4 2020.
Finance 2021-04-15T11:21:35Z

Goldman Sachs is going through a big transformation under CEO David Solomon

Goldman Sachs reported blowout Q1 earnings. The firm's meanwhile seen a consumer bank exodus, with JPMorgan recently hiring Marcus' product head.
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