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Search resuls for: ". Citadel"


11 mentions found


☆ Banks' war against fintechs is a battle they're destined to lose
  + stars: | 2023-01-06 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +6 min
And while this shouldn't bother banks — they make plenty of money doing what they do best — this is Wall Street. In fact, the face of Wall Street, JPMorgan CEO Jamie Dimon, literally declared war on fintechs on an earnings call in 2021. But, as Insider's Bianca Chan and Reed Alexander recently outlined in a fantastic feature, banks' bid to topple fintechs is hopeless. Whether it's JPMorgan's digital-only bank Finn or, more recently, Goldman Sachs' Marcus, banks' attempt to cosplay as fintechs rarely ends well. Click here to read more about why banks are doomed to keep failing in their fight against fintechs.
☆ Miami Mayor Francis Suarez tapped several people close to Elon Musk to urge him to relocate Twitter out of San Francisco: 'They belong here'
  + stars: | 2022-12-28 | by ( Kimberly Leonard | ) www.businessinsider.com   time to read: +6 min
Miami Mayor Francis Suarez wants Twitter to relocate from San Francisco to Miami. He told Insider he has reached out to people close to Twitter CEO Elon Musk. Suarez publicly urged Twitter to move its headquarters to Miami by tweeting the suggestion to CEO Elon Musk at the beginning of December. Suarez, 45, is a Republican but the office of the Miami mayor is considered nonpartisan. As CEO of Twitter, Musk has promised to unleash free speech.
☆ Sinema widens gap between Democrats and Wall Street
  + stars: | 2022-12-09 | by ( Ben Winck | ) www.reuters.com   time to read: +3 min
WASHINGTON, Dec 9 (Reuters Breakingviews) - Big finance has lost an ally in the U.S. Democratic Party. Some of the biggest names on Wall Street have similarly tied themselves to the Republican Party’s leaders. But the gap between Democrats and the financial sector has been growing for years. Sinema’s exit, while it won’t change much in Washington, gives Wall Street one more reason to come off the fence. Follow @BenWinck on TwitterCONTEXT NEWSSenator Kyrsten Sinema said on Dec. 9 that she will change her party registration from Democrat to political independent.
☆ Sinema widens gap between Democrats and Wall St
  + stars: | 2022-12-09 | by ( Ben Winck | ) www.reuters.com   time to read: +3 min
WASHINGTON, Dec 9 (Reuters Breakingviews) - Big finance has lost an ally in the U.S. Democratic Party. Some of the biggest names on Wall Street have similarly tied themselves to the Republican Party’s leaders. But the gap between Democrats and the financial sector has been growing for years. Sinema’s exit, while it won’t change much in Washington, gives Wall Street one more reason to come off the fence. Follow @BenWinck on TwitterCONTEXT NEWSSenator Kyrsten Sinema said on Dec. 9 that she will change her party registration from Democrat to political independent.
☆ Ken Griffin’s hedge fund Citadel rises again in November, bringing 2022 gains to 32%
  + stars: | 2022-12-06 | by ( Yun Li | ) www.cnbc.com   time to read: +1 min
Billionaire investor Ken Griffin's hedge fund climbed again last month, lifting its year-to-date gain to almost 32%, according to a person familiar with the returns. Citadel's multi-strategy flagship fund Wellington rallied 0.9% last month, bringing its 2022 performance to 31.8%, the person said. All five core strategies in the fund — commodities, fixed income and macro, equities, quant and credit — were positive year to date, the person said. Other than the flagship fund, Citadel's global fixed income fund, tactical trading fund and equities fund are all up by double digits this year, the person said. The wider stock market suffered a tumultuous meltdown this year with the S & P 500 falling into a bear market.
☆ Citadel's anniversary extravaganza: Billionaire Ken Griffin treats employees to Disney World and a Coldplay concert amid a stellar year for the hedge fund
  + stars: | 2022-12-05 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +3 min
Billionaire Ken Griffin treated Citadel employees and their families to a weekend at Disney World. The 20th-anniversary event for Citadel Securities is one of many lavish events for the firm. This weekend, founder Ken Griffin treated Citadel and Citadel Securities' employees and their partners and children to an all-inclusive weekend in Disney World. The Disney World extravaganza was the 20th-anniversary celebration of market maker and trading firm Citadel Securities, and a belated event for hedge fund Citadel's 30th anniversary, which was in 2020. Citadel employees and families gathered at the Orange County Convention Center in Orlando, Florida on Saturday night for a party that featured a concert headlined by Coldplay.
☆ Inside ex-Goldman Sachs banker Gregg Lemkau's big bet on himself
  + stars: | 2022-10-28 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +6 min
Gregg Lemkau (center) led MSD Partners, the investment firm financed by Michael Dell (right) to a merger with merchant bank BDT & Company, founded by Byron Trott (left). Gregg Lemkau seemingly had it all, which is why many were surprised at his decision to end his 28-year tenure at Goldman Sachs to run MSD Partners, Michael Dell's investment firm, in late 2020. Nearly two years later, Lemkau has silenced any doubters by orchestrating a merger between MSD and merchant bank BDT & Company. Lemkau will serve as co-CEO with BDT founder and CEO Byron Trott of the new firm, which will target rich families and founders. Click here to read more about Gregg Lemkau's ascension at Goldman Sachs and his decision to leave.
☆ Equifax fired at least two dozen employees after it used its own tool to suss out if workers had a second job
  + stars: | 2022-10-14 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +5 min
Four of the big six US banks (JPMorgan, Morgan Stanley, Citigroup, and Wells Fargo) all report their Q3 earnings today. Our friends over at Markets Insider will have the immediate reaction to all the revenue numbers as they're posted. That's clearly the message at Equifax, which fired at least 24 workers for secretly having second jobs, Insider reported Thursday. "I'm not sure how Equifax can be trusted with data when it uses it to spy on its own employees," an Equifax employee told Insider. Read our full story on how Equifax used its own tool to figure out if employees were working second jobs.
☆ Wealthy people who moved to Miami are rejecting Florida traditions and radically transforming their homes instead
  + stars: | 2022-10-12 | by ( Kelsey Neubauer | ) www.businessinsider.com   time to read: +7 min
"They're willing to bring their New York aesthetic down into Miami, or their LA or Beverly Hills aesthetic down into Miami." Miami newcomers aren't afraid to break away from aesthetic normsEilyn, who said her design style is more personable and poised, was born and raised in Miami. The result is a modern beach home that includes elements of classic Miami design "mixed with the tranquility of Mykonos" that combines a simple color palette with pops of visual interest. "You can incorporate details that maybe you wouldn't see so much in Miami design," she said. It means they have a steady stream of work, with the possibility to be creative and stretch their imaginations as they shape the future of Miami design.
☆ Wall Street shops get dinged for nearly $2 billion in penalties for failing to police bankers' use of Whatsapp
  + stars: | 2022-09-28 | by ( Aaron Weinman | ) www.businessinsider.com   time to read: +5 min
Some of the world's largest banks from Goldman Sachs to Morgan Stanley will cough up nearly $2 billion in penalties to the US regulators for failing to sufficiently monitor their employees' use of unauthorized messaging apps. At the heart of the matter here are bankers' use of communications platforms like Whatsapp or Signal. These are encrypted messaging apps that bankers regularly use to communicate with clients and even journalists. The largest US banks, boutiques, and European lenders were caught up in a probe around the use of unauthorized messaging apps. Whatsapp, for example, is a popular messaging app with bankers dealing with clients based outside the US.
☆ Digital World Acquisition Corp urges shareholders to delay merger with Trump Media
  + stars: | 2022-09-03 | by ( Jack Stebbins | ) www.cnbc.com   time to read: +4 min
Trump Media and Technology Group and the SPAC have faced increasing scrutiny in recent months. DWAC and Trump Media face a Thursday deadline to complete the merger, and the SPAC is eagerly seeking an extension. Trump Media and Technology Group and Truth Social were founded after Trump was banned from Twitter following the Jan. 6, 2021, Capitol riot. Trump Media announced in October 2021 that it would merge with DWAC to take the company public. Trump Media, headed by Republican former U.S. Rep. Devin Nunes, has said it also plans on launching TMTG News and TMTG+ video streaming services.
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