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☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ The portfolio manager whisperers
▼ + stars: | 2024-05-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: +24 min

AdvertisementHistorically, a hedge fund's chief investment office or senior portfolio manager was responsible for vetting and wooing key investment hires. They can also help hedge funds save on outside recruiting costs, which can add up to tens of millions a year. Hedge funds targeted institutional salespeople at investment banks with exposure to hedge funds, as well as asset allocators with chops in portfolio-manager selection and due diligence. Assets at multimanager hedge funds have boomed since 2018. The principle may work for fictional baseball diamonds, but the reality at hedge funds is more complicated.

Persons: Taylor Swift, Travis Kelce, Goldman Sachs, —, That's, headhunter who's, liken, Nick Saban's, Midlevel, headhunter, Ken Griffin, Michael Kovac, execs, Jennifer Blake, BD Thomas DeAngelis, Walleye Capital Paritosh Singh, Americas Michael Grad, BlueCrest Lindsay Previdi, Point72, Freestone Grove Matthew Giannini, Ken Griffin's, ExodusPoint, Brevan Howard, breakneck buildout, Michael Gelband —, Jonathan Hoffman, Alexander Phillips, ExodusPoint's, Millennium's Izzy Englander, noncompetes, Millennium Management Amanda Gordon, multimanagers, who've, Goldman, Schonfeld, Brevan Howard —, Neil Chriss, Harry Schwefel, Jonathan Brenner, Walleye's, Thomas DeAngelis, DeAngelis, Brenner, DeAngelis hasn't, Kansas City Chiefs Travis Kelce, Erick W, Rasco, Donald Trump's, America couldn't, Citadel execs Todd Barker, Daniel Morillo —, Jeff Runnfeldt, Bobby Jain, allocator Organizations: NFL, Business, Citadel, BD, University of Alabama, execs, Balyasny, Walleye Capital, Millennium, Americas, Freestone Grove, — Citadel, Walleye, BI, Costco, Millennium Management, Bloomberg, Getty, Investor, Barclays, Barclays Capital Solutions, Brookfield, Paloma Partners, Kansas City Chiefs, San Francisco 49ers, Allegiant, Getty Images, Black, Investors, ex, Fortress Locations: America, multimanagers, —, Hudson Bay, Schonfeld, Israel, multimanager, Europe, Middle East, Africa, Vegas, Balyasny

☆ Meet 7 recruiters who can help you land a tech job at Wall Street firms like JPMorgan and Blackstone
▼ + stars: | 2024-04-25 | by ( Bianca Chan | ) www.businessinsider.com time to read: +2 min

Landing a tech job on Wall Street has never been simple, but it's even less so today. But widespread layoffs in the tech sector have created a "glut of supply" of "mediocre talent," recruiters told Business Insider. That's not stopping Wall Street firms from tapping external recruiters to find technologists. Given the private nature of their work, recruiters usually keep their client list and searches close to the vest. For that reason, the specific clients most of these recruiters work with are not named.

Persons: we've, Ben Hodzic, Selby Jennings, Wall

☆ Rudy Giuliani said he'll be disbarred but that supporting Trump would 'help me in heaven for sticking to my principles'
▼ + stars: | 2024-03-18 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Former New York Mayor Giuliani said on Sunday that his support of Trump showed he stuck to his principles. AdvertisementRudy Giuliani predicted on Sunday that he'll be disbarred but said his loyalty to former President Donald Trump would be a boon for him "in heaven." Advertisement"I consider that something that will help me in heaven for sticking to my principles and not being a weakling like all these weaklings who were afraid to represent Trump," Giuliani said. A month later, a US appeals court also suspended Giuliani in Washington. Then came the July 2023 recommendation that Giuliani be disbarred, which will go to the DC Court of Appeals for a final decision.

Persons: New York Mayor Giuliani, who's, Giuliani, —, Rudy Giuliani, he'll, Donald Trump, he'd, ", Fani Willis Organizations: New York, Trump, Service, Association, New, DC, Appeals, Business Locations: New York, Washington, Pennsylvania, DC, Georgia, Fulton County

☆ How a boutique bank that rode last year's healthcare M&A streak into the big leagues plans to continue to compete with the JPMorgan's of the world
▼ + stars: | 2024-03-13 | by ( Reed Alexander | ) www.businessinsider.com time to read: +9 min

It was more than double the value of the next-largest deal, a Japanese healthcare merger that clocked in at $22 billion. And, for its part, Seagen tapped advisors at two boutique firms: Centerview and MTS Health Partners. "We want to be the preeminent healthcare bank. Last year, during a healthcare M&A boom that's expected to continue this year, the bank onboarded 14 new staffers, including the partners, a company spokesperson said. Advertisement"We are absolutely in growth mode looking to have high-quality bankers who are capable of generating business off of this platform without all the accoutrements of a big bank," Weisenfeld continued.

Persons: Seagen, Andrew Weisenfeld, Goldman Sachs, Morgan Stanley, Dealogic, Weisenfeld, —, Curtis Lane, Bear, Daun Chung, Ryan Stewart, Reed Alexander Organizations: Service, Pfizer, Guggenheim, Centerview, MTS Health Partners, MTS, Goldman, JPMorgan, Bank of America, Partners, CTI, New, Bear Stearns, London Stock Exchange, Seagen, Medicines, Novartis, Chase Securities, Health Partners, Guggenheim Securities, Triple, SVB Securities, Solomon Partners, Citigroup Locations: Wall, New York City, Seattle

☆ Early recruitment for investment-banking internships left students scrambling this year. Here are 15 ways to get ahead of the ultra-competitive process.
▼ + stars: | 2024-02-22 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +22 min

But never had one come this early — one year and eight months ahead of said internship’s start date. While it has always been competitive, the investment banking summer internship process has gotten increasingly premature. As a result, wannabe financiers may want to start getting ready for the process as early as their freshman year. The Internship movieNetwork with upperclassmen firstNetworking is one of the most important aspects of getting a competitive investment banking internship. “A lot of kids don't realize they don't want to do it until they’ve done it for 10 weeks after the internship,” Sibley said.

Persons: Steve Sibley, ” Sibley, Goldman Sachs, Sibley, ”, —, they’re, it’s, you’ll, “, ’ inboxes, You’ll, ‘, ’, Goldman, Don’t, Carlo Allegri, don’t, there's, might’ve, “ I’m, Sturti, you’re, It’s, you'll, would've Organizations: Indiana University’s Kelley School of Business, Business, “, Finance, Bank of America, Citi, BI, Investment, Excel, IB, LinkedIn, Goldman, Getty, Lazard, Reuters, I’m Locations: “, New York City, Manhattan, Chicago, Charlotte, Atlanta, Houston, New York

☆ Life in the US got boring, so I moved to China. I'm lonely and single, but I plan to stay.
▼ + stars: | 2024-01-25 | by ( Danielle Marcano | ) www.businessinsider.com time to read: +7 min

The woman who interviewed me for the teaching job in China was based in Boston. Our training center decided to start teaching students from home. Despite my accomplishments in China, I'm still asked by some family members why I'm not married. I'm not opposed to dating Chinese men, but I often worry about the language barrier and cultural differences. It's a similar mindset I had when I found the opportunity to work in China in the first place.

Persons: Danielle Marcano, —, they'd, I'd, Danielle Marcano Yantai, I've, haven't, Hong Kong —, I'm, they'll Organizations: Service, SEPTA, America, Lakers Locations: Philadelphia, China, Downtown Philly, South Philly, LA, Boston, South Korea, Yantai, Yangma, Beijing, Los Angeles, Shenzhen, Hong Kong, Hong, Shenzhen —

A pedestrian carrying an umbrella walks along the River Thames in view of City of London skyline in London, Britain, July 31, 2023. Finance executives, consultants and headhunters interviewed by Reuters predict subdued deal flows, modest bonuses for most and heavy job cuts in 2024. "2023 will ultimately be one of the lowest corporate finance fee pools in modern history," said Fabrizio Campelli, head of Corporate Bank and Investment Bank at Deutsche Bank. JOB CUTSBanks have already turned to cost cuts to try to weather the downturn, which in a people-intensive business means job losses. And although some bankers expect a tough 2024, others sense an opportunity for European banks from the Basel Endgame.

Persons: Hollie Adams, Fabrizio Campelli, Banks, Ronan O'Kelly, Oliver Wyman, O'Kelly, Dominic Hook, Goldman Sachs, Vis Raghavan, JP Morgan, Morgan McKinley's, Stephane Rambosson, headhunter, Rambosson, Ana Botin, Morgan's Raghavan, there's, Oliver Wyman's O'Kelly, Deutsche's Campelli, Anousha Sakoui, Carolyn Cohn, Jesus Aguado, Alexander Smith Organizations: REUTERS, LONDON, Finance, Reuters, Corporate Bank, Investment Bank, Deutsche Bank, Organisation for Economic Cooperation, Development, Barclays, Lloyds, Challenger Metro Bank, UBS UBSG.S, Citi, Workers, Global Investment Banking, Employment, European Union, Santander, Global, Basel, Thomson Locations: City, London, Britain, Europe, Middle East, Africa, Ukraine, West, China, United States, India, Madrid

☆ He wanted to be a trombone player. Instead, he ended up as CEO of one of the world's biggest airlines.
▼ + stars: | 2023-11-26 | by ( Chris Johnston | ) www.businessinsider.com time to read: +8 min

He's been CEO of European airline easyJet for the past six years. AdvertisementIn a parallel universe, Johan Lundgren would have become a professional musician and never ended up as CEO of one of the world's biggest airlines. "I like people, and I like travel," Lundgren tells Business Insider in a faint Swedish accent during an interview in central London. He spent many years at TUI, one of Europe's biggest travel companies, rising to deputy CEO by the time he left in 2015. AdvertisementIt's the UK's biggest airline and is first or second in many other markets too.

Persons: Johan Lundgren, He's, Lundgren, —, Swede, easyJet, Charles de Gaulle, Charles de, It's, I've, didn't, Bob Jordan, EasyJet, Stelios Stelios Haji, he's, that's, Michael O'Leary, Filipo Monteforte, Ryanair's Michael O'Leary, O'Leary Organizations: easyJet, Service, Royal College of Music, Soviet Union, SAS, Southwest Airlines, Ryanair, British Airways, London Gatwick, Southwest, UK's, Airbus, Getty Locations: Britain, London, Stockholm, Leningrad, Russia, Soviet Union, Soviet, TUI, Majorca, Europe, Charles, Paris, Charles de Gaulle, easyJet, Ukraine, Sweden, Canada, Toronto, AFP

☆ UniCredit picks headhunters to advise board on own slate of nominees
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: 1 min

The UniCredit bank logo in the old city centre of Siena, Italy, June 29, 2017. REUTERS/Stefano Rellandini/File Photo Acquire Licensing RightsMILANO, Sept 26 (Reuters) - UniCredit (CRDI.MI) said on Tuesday it had mandated Egon Zehnder and Spencer Stuart as headhunters to support the board in identifying candidates to be included in the slate of nominees current directors will put forward to appoint their successors. The current board is up for renewal next spring. In June UniCredit Chief Executive Andrea Orcel said he would be "definitely up for more," when asked about whether he would seek a new mandate at the helm of the Italian bank. Reporting by Gianluca Semeraro; editing by Valentina ZaOur Standards: The Thomson Reuters Trust Principles.

Persons: Stefano Rellandini, Egon Zehnder, Spencer Stuart, Andrea Orcel, Gianluca Semeraro, Valentina Za Organizations: REUTERS, UniCredit, Thomson Locations: Siena, Italy, Italian

☆ 'I don't believe in fairy tales': A veteran economist shares 10 overlooked reasons why the US economy is bound to contract, even as Wall Street bails on recession calls
▼ + stars: | 2023-09-22 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

"I don't believe in fairy tales, and I don't believe in new eras," Rosenberg said in a recent interview with Insider. The resumption of student loan payments this fall will also cut into spending, Rosenberg predicted. As excess stimulus erodes, the consumer savings rate is sliding. Higher oil and gas prices are also hurting consumers, Rosenberg said. "And they need the money because they're seeing strains on their finances from this 525 basis point runup in rates start to bite into their debt service capacity."

Persons: David Rosenberg, Rosenberg, they've, Rosenberg doesn't, it's, Louis Organizations: Bank of America, Rosenberg Research, Federal Reserve, of Locations: Saudi Arabia

☆ Seeking nominations for the top ad industry recruiters
▼ + stars: | 2023-08-29 | by ( Ryan Joe | ) www.businessinsider.com time to read: +1 min

Insider is seeking nominations for its list of top headhunters for the ad industry. This list showcases outside recruiters helping ad firms find C-level execs, AI talent, and more. Submit your nominations via the form below by September 15. From C-levels to AI-talent, advertisers, ad agencies, and adtech companies are turning to top recruiters to find the talent who can help lead their companies into the future. Insider is seeking nominations for outside recruiters, both independent and at agencies, with experience helping ad industry clients staff up.

Persons: We'll Organizations: Morning, Intelligence

Competition for buy-side jobs, including at private equity firms and hedge funds, can be fierce. Insider identified the 13 recruiting firms aspiring dealmakers and traders should know for a buy-side job. The buy-side hiring spree is expected to continue despite a slowdown in mergers and acquisitions — a cornerstone of private equity investing. BellCast Partners works with mega funds, middle market funds, infrastructure funds, impact funds, real estate private equity funds, sector-focused funds, sovereign wealth funds, family offices, and credit funds. Today it does searches in private equity, growth equity, distressed, credit, venture capital, hedge funds, family offices, and select investment banks.

Persons: headhunting, Brain O'Callaghan, John Arbolino, Arbolino, Amity, Pamela Esterson, Susanna Nichols, Nichols, Esterson, Danielle Caston Strazzini, Alison Bellino Johnson, BellCast, Caston Strazzini, Jill Pierce, Spencer Stuart, Pierce, —, Brian O'Callaghan, it's, Renee Hylton, Keith Mann, Josh Grauer, Grauer, Mann, Adam Zoia, Annette Krassner, Katie Cunningham, Sarah Armstrong, Cunningham, Armstrong, Anna Brady, Janelle Matthews, Beth Grossman, Brady, they've, Morgan Stanley Eleni Henkel, Henkel, Leah Trabich, HSP, Carlyle, Warburg Pincus, Adam Kahn, Kahn, Anthony Keizner, Keizner, Nina Swift, Marty Brady, Vedica Qalbani, Qalbani, Lindsey Mead, Jessica Wu, Michael Garmisa, SearchOne, Sheri Gellman, Gellman Organizations: Citadel, nab, Boothroyd, Co, Wall, Amity Search Partners, Palm Beach Staff, SG Partners, Bain Capital, Centerbridge Partners, Trian Partners, BellCast, Charlotte Staff, CPI, BellCast Partners, Investor Relations, Nashville, San Francisco, Wharton, Harvard, Stanford, New York Staff, Partners, San Francisco Staff, Los Angeles Staff, TPG, Thoma Bravo, Bessemer Venture Partners, EQT, Elliott, Equity, KKR, ICONIQ, Spectrum Equity, Henkel Search, Search Partners, New York, Oxbridge, Nashville Staff, Time Warner, Indiana University, SG Locations: New York, San Francisco, Austin, San Diego, Chicago, Los Angeles , New York, Phoenix, West Coast, Los Angeles, NYC, California, United States, Boston, Dallas, Atlanta, Columbia, Latin America, Asia, Europe, San Francisco , New York, Bay, Gold, Los Angeles , Greenwich, Nashville, Amity, South Florida

☆ Tank Tops, Toilet Trips and Lies: What Headhunters Can See
▼ + stars: | 2023-08-05 | by ( Francesca Fontana | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/tank-tops-toilet-trips-and-lies-what-headhunters-can-see-b89a4f14

Persons: Dow Jones

☆ Browse our database of more than 350 Wall Street headhunters to find your dream job in private equity, investment banking, or hedge funds
▼ + stars: | 2023-07-27 | by ( Emmalyse Brownstein | Alex Morrell | Reed Alexander | ) www.businessinsider.com time to read: +4 min

From investment banks to hedge funds to private-equity shops, the financial industry is always on the lookout for top talent. Hedge funds are another story. As Insider recently reported, demand for inflation traders by hedge funds has been red hot. Keizner said he's also seeing demand at hedge funds that focus on credit trading and special situations, like mergers. "Single manager, directional equity hedge funds typically haven't been receiving asset inflows and as a result, there's less hiring there."

Persons: Anthony Keizner, Bobby Jain, Adam Harwood, who's, Keizner, he's Organizations: Wall, PJT Partners, Search, Citadel, Credit Suisse, Bankers, Wall Street Locations: dealmaking

☆ Inside the private-equity recruiting tornado that just hit — and why it may be turning some young bankers away from a career on the buyside
▼ + stars: | 2023-07-24 | by ( Emmalyse Brownstein | Reed Alexander | ) www.businessinsider.com time to read: +8 min

Private-equity recruiting for 2025 roles officially kicked off Friday, including at Apollo and TPG. Many of those bankers had barely started their current investment-banking jobs, and others were still in training sessions for them. As always, the firms were recruiting first-year investment banking analysts for jobs that won't start until 2025. Midnight interviews are not uncommon in private-equity recruiting, nor are "exploding offers," which demand that candidates make a decision before leaving the interview room to prevent them from shopping around. $300,000 offersOver the years, on-cycle recruiting has crept up on candidates earlier and earlier.

Persons: I'm, It's, Carlyle, Warburg Pincus, —, webinar, headhunting, Brian O'Callghan, O'Callaghan Organizations: Apollo, TPG, nab, General Atlantic, KKR, Permira, TPG Capital, Labor Locations: York

☆ Getting an entry-level job at Blackstone is harder than getting into Harvard, says Steve Schwarzman. Here's how to ace an interview and land a job there.
▼ + stars: | 2023-07-21 | by ( Casey Sullivan | Reed Alexander | ) www.businessinsider.com time to read: +2 min

Getting a job at private equity giant Blackstone is getting more competitive. In 2020, Insider spoke with president Jon Gray to learn how to stand out and land a job Blackstone. The billionaire that built Blackstone doubts he'd land a job at the private equity titan today. "Getting an entry-level job at Blackstone is 12 times harder than getting into Harvard. So how exactly do applicants dead-set on working for the firm land one of its highly-prized entry-level gigs?

Persons: Jon Gray, Blackstone, Stephen Schwarzman, That's, I'd, Schwarzman, —, Gray, Blackstone's cofounders, Pete Peterson, couldn't, Here's Organizations: Blackstone, Morning, Wall Street, Harvard, University of Pennsylvania, Wall Locations: New York, Chicago

☆ Junior bankers are 'freaking out' and ditching summer training sessions amid rumblings that private equity recruiting is kicking off ridiculously early
▼ + stars: | 2023-07-21 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +10 min

Panic is setting in at investment banks across Wall Street as junior bankers are thrust into the whirlwind of private equity recruiting. Private equity recruiting is an annual Wall Street ritual, albeit an unwelcome one for some investment banks. Coffee chats vs on-cycleWhich private equity firms are recruiting and when is somewhat murky — for good reason. Private equity firms have also begun hosting events, including an invite-only networking social with KKR Thursday night and online information sessions hosted by Hellman & Friedman Wednesday. "I know it's crazy, but it's in your best interest to decide upfront whether you want to pursue private equity," he said.

Persons: I'm, Evercore, Asif Rahman, Friedman, Apax, Hellman, that's, Matt Ting, It's, Ting, they'll, Reed Alexander Organizations: Oasis, Henkel, Advisors, KKR, Hellman, Industry, headhunters, Permira Locations: Wall, New York

☆ China is looking all over the world for help building and flying its fighter jets
▼ + stars: | 2023-06-25 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

A British Royal Air Force Eurofighter Typhoon fighter jet at RAF Coningsby in May. Daniel Duggan, a former US Marine Corps pilot, has been accused of violating the Arms Export Control Act by training Chinese military pilots. "Currently, Chinese jet engines can at best achieve one-fourth the life span of Western engines," the report says. To manufacture engines, China still needs to import complex machine tools, including equipment made in Germany, Japan, Italy, and South Korea. A J-20 stealth fighter jet at Airshow China 2022 in Zhuhai in November.

Persons: —, Der Spiegel, Christopher Furlong, Daniel Duggan, Duggan, Chen Jimin, Deng Hua, John Paul Jones, walling, Michael Peck Organizations: Service, Privacy, China, NATO, Taiwan, British Royal Air Force Eurofighter, Coningsby, US, Chinese headhunters, US Marine Corps, Western, China News Service, Getty, Center for Strategic, International Studies, CSIS, Nations, Soviets, Defense, Foreign Policy, Twitter, LinkedIn Locations: China, May, Australian, Zhuhai, US, Germany, Japan, Italy, South Korea, Xinhua, Constantinople, Byzantine Empire, Hungarian, Russia, Russian, Nazi, Forbes

But the plunge in the deal pipeline prompted soul-searching and job-hopping among investment bankers accustomed to a feast. Barclays, which has struggled to retain bankers following a shake-up in the management of its investment banking division, has lost at least nine top technology bankers in recent weeks. Traditionally, smaller firms have been reluctant to offer investment bankers guaranteed compensation, in order to have more of their pay tied to performance. Alan Johnson, managing director of compensation consultancy Johnson Associates, said that first-year guarantees were common practice in the hiring of investment bankers, but second-year guarantee used to be rare. "You get paid a higher percentage of revenue than in a big bank, but you have to generate the revenue with perhaps less help," Johnson said.

Persons: Goldman Sachs, Sam Britton, Britton, Anthony Keizner, Goldman, Nick Pomponi, Rob Chisholm, Troy Broderick, Goldman's, Perella Weinberg, Laurence Braham, Richard Hardegree, Steve Markovich, Ron Eliasek, Jason Auerbach, Alan Johnson, Johnson, Milana Vinn, Anirban Sen, Greg Roumeliotis, Jamie Freed Organizations: YORK, Goldman, Bank of America, Barclays, Qatalyst Partners, Jefferies Financial, Technology, LSEG, Intelligence, Search, Evercore, UBS, Centerview, Jefferies, SVB Securities, Bank, Reuters, Johnson Associates, Thomson Locations: Qatalyst, New York

THE SWISS BANKPossibly the first hurdle is a politically fraught decision on Credit Suisse's "crown jewel", its domestic business. But UBS will have to weigh that against public pressure to keep the Credit Suisse business separate with its own brand, identity and, critically, workforce. However, insiders talk of rivals aggressively wooing Credit Suisse clients and employees. Clients who would typically bank both with UBS and Credit Suisse to spread their risk, might now take some of that business elsewhere. One potential risk stems from legal challenges to the decision by Swiss authorities to write off special AT1 bonds issued by Credit Suisse.

Persons: Sergio Ermotti, Ermotti, Colm Kelleher, Alan Mudie, Arturo Bris, Kelleher, Lars Schweizer, John Revill, Oliver Hirt, Noele Illien, Tomasz Janowski, Elisa Martinuzzi, Alexander Smith Organizations: Credit Suisse, UBS, Suisse, Woodman Asset Management, Finance, International Institute for Management Development, Reuters Graphics, Credit, Frankfurt University, Barclays, Thomson Locations: ZURICH, Switzerland, Swiss, Lausanne

☆ The future of AI in finance might be about accepting what we don't know
▼ + stars: | 2023-06-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Such a suggestion is blasphemy — and potentially illegal — on Wall Street. But as AI tech continues to advance, one Wall Street executive is wondering if there isn't some wiggle room on those types of policies. But what really caught my eye was Friedman's comments around having to fully understand how the AI works. That's a fascinating thought exercise, and one worth having with how quick AI tech seems to be evolving these days. Wall Street is getting fed up with Amazon.

Persons: Dan DeFrancesco, we've, Adena Friedman, shouldn't, Simon Berlyn, Robert Kindler, Morgan Stanley, Paul, Weiss, Garrison, Marc Lasry, Frank, Charlie Javice, Sam Altman, Bernstein, Rod Stewart, We've, Jeffrey Cane, Nathan Rennolds Organizations: PE, Disney, Pixar, . Finance, Nasdaq, Bloomberg Invest, Milwaukee Bucks, JPMorgan, Amazon, Communist Party, LinkedIn Locations: NYC, Point72, Rifkind, Wharton, New York, London

☆ How to land a job with Blackstone, Apollo, KRR, and other private equity titans
▼ + stars: | 2023-06-06 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +6 min

Private equity is often seen as the Holy Grail of finance jobs — but breaking in can be challenging. We also have data on private equity pay and the industry's top recruiters. Here is what we found about pay at private equity firms, including Blackstone, Apollo, and Bain Capital. Private equity recruiting has been starting earlier than ever Getty ImagesPrivate equity firms like to recruit young talent from investment banks. These days, the private equity recruiting process has started earlier than ever, resulting in middle-of-the-night interviews with offers being made — and blown up — all before Labor Day.

Persons: —, bymuratdeniz, Blackstone, Samantha Lee, Drew Angerer, Skye Gould, Jon Gray, Grace Koo, Read, Carlyle, Alex Crisses, Thoma Bravo, Warburg Pincus, Wharton's, Axel Springer Organizations: Blackstone, KKR, Service, Apax Partners, Oaktree, of Foreign Labor, Apollo, Bain Capital, Labor, General Atlantic, PJT Partners, Partners, dealmakers, Wall, University of Michigan Locations: Carlyle, Blackstone, Axel

☆ In ‘Succession,’ Tom and Greg Were Never Playing the Long Game
▼ + stars: | 2023-05-29 | by ( Alexis Soloski | ) www.nytimes.com time to read: +1 min

I genuinely don’t know what he wants any more than I know what I want. Do I need to feel this bad at work?” I also don’t know if he’s going to cut my salary. Walking down the hall, every office: “You’re fired.”Why do you think Shiv sides with Tom over her brothers, Kendall and Roman? She just looks at Kendall and thinks, “I can’t.” I don’t think she made a rational decision. And then there’s this beautiful stage direction that Jesse wrote in the script of Tom and Shiv in the car.

☆ Who's going to work on all these AI projects at the big banks?
▼ + stars: | 2023-05-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Everyone seems to agree that artificial intelligence is going to upend Wall Street. Insider's Paige Hagy and Bianca Chan have a fascinating story on how AI talent doesn't seem to be sticking around at big banks. What's even more foreboding is that AI talent isn't leaving for other banks. But struggling to hold on to AI talent seems especially concerning when one considers what's at stake — like, uh, humanity — and the speed at which it'll happen. Here are the three reasons banks can't seem to hold on to AI talent.

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