All Aboard the Goldman Jet
Happy Monday! Today's a doubleheader of a holiday — Memorial Day in the US and the spring bank holiday in the UK. Markets are closed, many of us are off work, and the OOO messages are on.
So today, we're skipping news and bringing you some great finance reads. Because who doesn't want to dive into the inner workings of Wall Street on a holiday? Let's go.
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1. Where Goldman Sachs CEO David Solomon takes the corporate jet. Goldman has attracted a lot of attention over Solomon's use of private jets. Here's an investigation into where the firm's two corporate jets have flown within the last year and a half.
2. Inside Wells Fargo's "chaotic" journey to transform its services for the ultrarich. Advisors have left in droves amid complaints of flip-flopping by Wells Fargo's leaders and a gutting of services. Some clients have taken notice.
3. Exclusive: We built a BlackRock org chart. BlackRock's been priming the next generation of management and making changes at the top. We're showing where executives said to be in the running to succeed CEO Larry Fink sit within the company.
4. Prestigious Wall Street banks are ditching marijuana testing for job seekers. As more legal marijuana dispensaries open their doors in New York, Insider reached out to investment banks with a significant presence in the city. What we found out.
5. ChatGPT could upend jobs across Wall Street. Experts say it will be used to enhance productivity and elevate existing tools in six key areas of finance – from investment banking to wealth management.
6. The Rainmakers: Top investment banks still pushed blockbuster deals over the line in what was a tough year for M&A. Meet the 20 powerhouse bankers who orchestrated the biggest deals of 2022 and defied a down market.
7. Goldman Sachs tried to help Silicon Valley Bank. It didn't work. Lost in the news around the collapse of SVB was the role played by arguably the most powerful investment bank on the planet. Dive in here.
8. The private-credit power players shaping the $1.2 trillion asset class. The expansion of private credit underscores the growing influence of the market's dealmakers — we're highlighting the 20 influential execs and dealmakers to watch.
9. Meet Citadel X: The team of engineers at Ken Griffin's $57 billion hedge fund giving it a competitive edge by streamlining and designing its tools. Our report here.
10. Rich Americans can give homes to their kids before death and save on taxes with irrevocable trusts. They can stay in the home during the trust, and any appreciation is exempt from gift and estate tax. More on that.
Source: Business Insider
