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☆ Meet the Man Behind Litquidity, the Anonymous Instagram Account Dominating Wall Street
▼ + stars: | 2024-02-07 | by ( Reed Alexander | Hayley Cuccinello | ) www.businessinsider.com time to read: +26 min

The deck kicked off a game of one-upmanship among Wall Street banks trying to keep their employees happy. Lit capitalized on poking fun at Wall Street culture, selling $35 dad hats that read, "Do You Know Who My Father Is?" There have, of course, been endless rumors about Lit's identity, especially among Wall Street underlings. Wall Street underlings have speculated about Litquidity's identity for years. Basak, one attendee said, wanted to take a "wrecking ball through it all" and hold Wall Street heavy hitters accountable.

Persons: Goldman Sachs, I've, David Solomon, Litquidity, Goldman, Solomon, Evercore, Michael Kovac, Lit, Warburg Pincus, Jamie Dimon, Jamie Dimon's, Banksy, Bennett Jordan, who've, Lit's, — Mark Moran, —, Jefferies, Richard Handler, Spencer Platt, Isaac Laifer, Laifer, Handler, We'd, Henry, Hank, Medina, He's, he's, Jefferies Medina, Bart P, Fuchs, Karl Smith, Mark Moran, Moran, Bloomberg he'd, Zack DeZon, Getty Images Moran, Brian Hanly, Hanly, Sonali Basak, Angela Weiss, cryptocurrency, we'll, Mark, Medina's, weren't, CoinFLEX, Litquidity doesn't, Dave Portnoy, wasn't, Medina Ayden Syal, Kyle Zappitell, Zappitell, he'd, hasn't, Bennett Jordan —, Craig Sjodin, Litney, Paul Argenti, Wall Organizations: Goldman, New York Times, CNBC, Business, Bloomberg, Metropolitan Club of New, Nomura, Citigroup, Financial Times, Litney Partners, Whitney Partners, BI, ESPN, Litquidity, Centerview Partners, New York, Getty, Bain Capital, Litquidity Venture Partners, SEC, Cornell University, Wexford Capital —, Deutsche Bank, Deutsche, CFA, Getty Images, Bullish, Vice, Wall Street, Litquidity's, Manhattan's Rue, Fox Business, Litquidity Ventures, Coatue Management, SAFE, Soho House, Dartmouth University Locations: New York, Tribeca, Metropolitan Club of New York, Instagram, San Francisco, Medina, New York City, Miami, NoHo, Chad, Connecticut, Litquidity, Linktree, Soho

The pandemic pushed financial giants to embrace a more casual dress code that many other corporations had begun to embrace. Diversity in dressFor some women on Wall Street, the shift from business formal to business casual has allowed them to step out of the unofficial uniform of pantsuits and sheath dresses. Lululemon in the boardroomNo Wall Streeters mentioned buying more Ferragamo ties, but many said they were leaning into athleisure. People still come in wearing their suits and ties and their Louboutins, and I'm like, 'what are we doing here?' "For a lot of client interactions, dressing business casual can make it more comfortable and can lead to a better relationship-building experience."

Persons: Luis Arteaga, Shanta Wu, Kristen Powers, Morgan Stanley, She's, Thom Browne, Anne, Victoire Auriault, Goldman Sachs, Jack Dillon, He's, David Trinh, It's, we've, Thoma Bravo, Andrew Almeida, Richard Handler, Jefferies, Katya Brozyna, I'm, Benjamin Kiflom, Neil Kamath, Sarah Sigfusson, Michael Wilkinson, Wells, Patrick McGoldrick, Laiwala, I've, Rachel Hunter, Goldman, Luna McKeon, Ricky Mewani, Dominic Rizzo, Rowe Price Organizations: Barclays, Fidelity, Vista Equity Partners, Bridgewater, Jefferies, Nike Air Force, Goldman Sachs Asset Management, Bank of, Moelis & Company, KKR, Blue Owl, Citadel Locations: Bridgewater, New York, Florida, Miami, San Francisco

☆ Jefferies CEO Richard Handler says people should embrace the haters in his advice to wannabe leaders. 'This means you are doing something really right.'
▼ + stars: | 2023-07-31 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +4 min

In an email with Insider, Handler explained how naysayers can be a source of "motivation." Richard Handler, CEO of investment bank Jefferies, says he knows he's doing his job right when larger rivals start hating on his bank. In a post on Instagram, Handler offered 100 things he wished he had known before becoming Jefferies's CEO in 1990. He has become one of the most active Wall Street CEOs on social media. "Everyone asks if I manage my own social media, and for better or worse, the answer is yes.

Persons: Richard Handler, Jefferies, Handler, he's, I'm, you'll, Selena Gomez, Kylie Jenner, Travis Scott Organizations: Jefferies, Puma

☆ For Wall Street's newest interns, it's important to keep things in perspective no matter how things end up
▼ + stars: | 2023-06-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Let's take a step backFor Wall Street interns, this week marks the start of their professional lives. So to the Wall Street interns who don't get a return offer in a few months, don't worry, you will too. Read more about Jefferies' Richard Handler explaining how Wall Street interns need to keep perspective. Check out all 15 pieces of advice Handler has for Wall Street interns. We asked our rising stars of Wall Street for some book recommendations.

Persons: Dan DeFrancesco, we've, I've, Richard Handler Jefferies, Richard Handler, Jefferies, Handler, It's, That'd, Guess, Tiffany Haley, Binance, Insider's Navah Maynard, Brandon Snower, Jeffrey Cane, Jack Sommers Organizations: Costco, Jefferies, Wall, Twitter, ESPN, Wall Street, SEC, Vanguard, Nike, LinkedIn Locations: New York, London

☆ Richard Handler, CEO of investment bank Jefferies, reminds incoming interns that working hard is no guarantee of a job
▼ + stars: | 2023-06-05 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +3 min

Investment banking internships kick off across Wall Street this week. Richard Handler, CEO of investment bank Jefferies, has some tips for incoming interns, including a harsh reminder that working hard is no guarantee of a job. Handler's comments come as investment banking internships kick off at a difficult time for Wall Street. Handler acknowledged that some interns decide that investment banking is not for them. Insider's Reed Alexander spoke to an investment banking intern for a midsize bank who said he hated being chained to his desk and seeing junior bankers being reamed out in public.

Persons: Richard Handler, Handler, Richard Handler's, Goldman Sachs, Jefferies, aren't, Brownstein, Insider's Reed Alexander Organizations: Jefferies, Morning, Twitter, Wall, Bank of America

☆ Top US CEO pay rose 7.7% last year, outpacing inflation, study finds
▼ + stars: | 2023-05-03 | by ( Ross Kerber | ) www.reuters.com time to read: +3 min

May 3 (Reuters) - Median pay for top U.S. CEOs rose 7.7% last year to a record $22.3 million, a new study found, as big stock awards helped the group stay ahead of inflation while U.S. workers' pay fell behind. Pay among the CEOs rose faster than for U.S. workers in 2022 despite tight labor markets. Total return for the companies whose CEO pay was studied was negative 11%. He added that amid the macroeconomic uncertainty, "There's still a little more of this incentivizing of executives that's leading to the increases in CEO pay." "Our CEO’s compensation is and will continue to be 100% performance based," the spokesperson said.

☆ Sumitomo triples down on Jefferies at right time
▼ + stars: | 2023-04-28 | by ( Antony Currie | ) www.reuters.com time to read: +3 min

MELBOURNE, April 28 (Reuters Breakingviews) - Jun Ohta may have preferred to catch a bigger Wall Street fish. But the CEO of Japan’s Sumitomo Mitsui Financial Group (8316.T) is expanding his relationship with relative minnow Jefferies (JEF.N) at an opportune moment. The $56 billion SMFG also intends to increase its ownership of the $7.6 billion company run by Richard Handler to 15% by purchasing ordinary shares that it will convert into preferred stock. Slumping deal flow after what Jefferies called an “off-the-charts” 2021 prompted its earnings to more than halve last year. SMFG will buy common stock on the open market and then convert it into non-voting preferred stock.

☆ Morning bid: Obstacle course ahead
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +6 min

San Francisco Fed President Mary Daly and Atlanta Fed chief Raphael Bostic said they expect Fed rates - now at 4.25% to 4.5% - will need to rise to a 5% to 5.25% range to sap inflation. The other big market obstacle of the week is the onset of the U.S. corporate earnings season. Four American banking giants - JPMorgan (JPM.N), Bank of America (BAC.N), Citigroup (C.N) and Wells Fargo (WFC.N) - report earnings on Friday. Diaried events and data releases that may provide direction to U.S. and world markets later on Tuesday:* U.S. Dec NFIB small business survey. * U.S. Federal Reserve Chair Jerome Powell, Bank of Japan governor Haruhiko Kuroda, Bank of England Governor Andrew Bailey, Bank of Canada governor Tiff Macklem and European Central Bank board member Isabel Schnabel all speak at Swedish central bank event.

☆ Jefferies profit slides as Wall Street dealmaking falters
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

Jan 9 (Reuters) - Investment bank Jefferies Financial Group (JEF.N) reported a 52.5% decline in fourth-quarter profit on Monday, hit by lower underwriting fees and volatile markets that dented income from its trading desks. Still, the firm posted its second-best year for investment banking revenue, which was substantially above 2019 levels, chief executive officer Richard Handler and president Brian Friedman said. Friedman said the profit decline looked more stark compared with an "extraordinary" bonanza for dealmaking in 2021. Jefferies' total net revenue was down 18% at $1.44 billion, dragged lower by a 35% decline in investment banking and capital markets revenue. The bank reported a profit of 57 cents a share in the three months ended Nov. 30, compared with $1.20 a year earlier.

☆ Jefferies posts lower quarterly profit as dealmaking falters
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

Jan 9 (Reuters) - Investment bank Jefferies Financial Group (JEF.N) posted a 52.5% decline in fourth-quarter profit on Monday, hit by lower underwriting fees and volatile markets that dented income from its trading desks. Still, investment banking revenue saw their second-best year and was substantially above 2019 levels, chief executive officer Richard Handler and president Brian Friedman said. Jefferies' total net revenue was down 18% at $1.44 billion, dragged lower by a 35% decline in investment banking and capital markets revenue. Jefferies began reducing the size of its merchant banking portfolio last year, in an effort to sharpen its focus on its key businesses. Leucadia later sold most of its non-financial assets to double down on investment banking.

☆ Goldman Sachs insiders say they are concerned about CEO David Solomon's push to build his personal brand, pointing to staff help for his DJing and use of the firm's planes
▼ + stars: | 2022-09-21 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +15 min

As David Solomon, Goldman Sachs' CEO, was wrapping up a work trip in late July, he boarded the company's Gulfstream G650 for Chicago. His personal account cites his role as Goldman Sachs' CEO, while his official Goldman Sachs account links to his personal account. As CEO, Solomon has overseen the firm's first investor day, launched a strategic update, and reaped record revenue of $59.3 billion in 2021. The Goldman representative disputed that characterization, saying the number of executive TV appearances has more than doubled over the past year. A Goldman representative said that Payback is run by music-industry consultants and that no Goldman Sachs resources are used for the platform.

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