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☆ Why Citadel's longest-running equities unit is focused on shorting stocks
▼ + stars: | 2024-10-29 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Justin Lubell, Citadel's Global Equities head, said shorting has been a big driver of returns. There's less competition in the space compared to going long on stocks, he said. Anthony Bozza, the founder of Lakewood Capital, called those who know who to short stocks a "dying breed." AdvertisementWhile some big bets against specific stocks have blown up in hedge funds' faces in recent years, there's still a focus on shorting at Citadel's longest-running equities unit. Related storiesEven investors known for bold short bets have moved away from the practice.

Persons: Justin Lubell, shorting, Anthony Bozza, —, there's, Ken Griffin's, Lubell, Robin, Gavin Baker, Lee Ainslie, Steve Cohen's Point72, Gabe Plotkin's Melvin Capital, Pershing, Bill Ackman, Bozza Organizations: Citadel's Global, Service, Citadel's, Citadel Global, Robin Hood Investors Conference, Business, Management, Lakewood Capital, Maverick Capital, GameStop, Lakewood Locations: Lakewood Capital, New York

☆ London's hedge fund rich are looking to avoid new taxes by relocating to Milan and Dubai. People who have made the move tell us what it's like.
▼ + stars: | 2024-07-31 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +9 min

AdvertisementSeveral cities have been trying to take advantage of the new policy, including Dubai, Milan, and more. A recently relocated hedge fund manager in Milan is planning to visit London or New York six or seven times a year going forward. "The best type of knowledge comes from people, from frequent interaction with people," said a Milan-based hedge fund manager. Several people — based in spots such as Dubai, Milan, and Zurich — mentioned that people early in their careers should still prioritize working in the biggest cities though. Moving to the Middle East just to interact with fellow UK ex-pats doesn't add much diversification to a portfolio manager's life.

Persons: —, Julian Robertson, Muyshondt, Elena Partners, Steve Cohen's Point72, Sebastian Dickgiesser, Girish Chouhan, aren't, COVID, I'm, Alfonso Peccatiello, he's, Darren Wolf, abrdn, It's, Wolf, Zoom Organizations: Service, Tyrian Investments, Business, Labour, Henley & Partners, United Arab, Eisler Capital, Capstone Investment Advisors, Getty, London, Investors, —, pats Locations: New York, Cascais, Portugal, Lisbon, London, Florida, Hong Kong, Dubai, Milan, China, United Arab Emirates, Italy, Point72, Girish Chouhan Dubai, Abu Dhabi, India, East, Europe, Madrid, Zurich, Amsterdam, Netherlands, Brera, —, Milan's Brera, UAE

☆ Labour's gains in London have private equity looking to exit — the country
▼ + stars: | 2024-07-17 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +5 min

Some of the proposals squarely take aim at the country's private equity sector, which, despite Britain's exit from the European Union, has maintained its stature as the regional hub for deal-making. "Private equity is the only industry where performance-related pay is treated as capital gains," the manifesto says. In practice, that would mean taxing carried interest, or the profits paid to private equity and hedge fund managers, as income. Labour's ascent comes at a precarious time for the private equity sector more broadly. "London has been the pulpit for financial services, private equity and investors in Europe for a long time," said Mark Veldon, a private equity partner at financial advisory and global consulting firm AlixPartners.

Persons: Big Ben, Keir Starmer, Lars Faeste, Faeste, Starmer, Marco Cerrato, he's, Giorgia Meloni, Cerrato, Steve Cohen's, Milan, Mark Veldon Organizations: Westminster, Nurphoto, Getty, Labour Party, Labour, Channel, European Union, Consulting's EMEA, CNBC, Capstone Investment, Management, Eisler, London, Labour Government Locations: London, Europe, Spain, Italy, Milan

☆ Elon Musk and Tesla are on the rise after a brutal start to the year
▼ + stars: | 2024-07-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, a tough sales report for Tesla can't slow the EV maker's turnaround . After a dreadful start to the year, the EV maker has been running on all cylinders on a full charge. Tesla's polarizing CEO also notched a massive victory when investors approved Elon Musk's $55 billion pay plan . But what is new at Tesla, and what sparked the company's recent market rally, are big promises from its CEO. As automakers reconsider their EV strategy , Tesla has figured out how to build cars cheaper than anyone else .

Persons: —, I'm, Tesla, Jordan Strauss, Chelsea Jia Feng, Insider's Nora Naughton, BI's Filip De Mott, hasn't, Karol Serewis, Musk's, Nora, it's, he's, Musk, Apu Gomes, Steve Cohen's Point72, Ken Griffin's, Mark O'Hare, Larry Fink, execs, Marc Benioff, trouncing, It's, Jenny Chang, Rodriguez, they've, Morgan Stanley, Beryl, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Business, Chelsea, Wall, Elon Musk's, Getty Images, Getty, Ken Griffin's Citadel, BlackRock, EU, Google, YouTube Locations: Wick, Jamaica, New York, London

☆ Jain Global, the most anticipated new hedge fund in years, is about to make its debut. An architect of the manager explains how it will be different.
▼ + stars: | 2024-06-24 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +12 min

The launch of Jain Global has dominated industry gossip since its founder left Millennium Management, where the 53-year-old Jain was Izzy Englander's right-hand man, in late 2022. And more specifically, scalability without incremental cost," Jonathan Barton, the firm's chief operating officer, said in an interview with BI. Starting from a clean sheet of paper gave Jain Global certain advantages, said one senior banker who worked closely with the new manager as it built out its teams and systems. 3Forge, a specialty-software provider, worked with Jain Global to build the interface that connects all the systems for PMs, the risk team, and management. In five to 10 years, Jain Global hopes it won't need a sprawling business-development function because a strong talent pipeline will have developed inside the firm.

Persons: —, Bobby Jain's, Jain, Izzy Englander's, It's, Morgan Stanley, Griffin's, Steve Cohen's Point72, Michael Gelband's, redemptions, Jonathan Barton, Barton, — Barton, it's, Bobby, Paul Enright, Sam Kellie, Smith, David Hochberg, Enright, Hochberg, there's, Jon Caplis, Caplis, they're Organizations: Service, Jain Global, Millennium Management, Business, UBS, Citadel, Bank of America, Meru Capital Group, Jain, Credit Suisse, Viking Global, Macquarie, Investors, Bloomberg Locations: Singapore, Balyasny, New York, Houston, London, Hong Kong, York, Lane, Meru, Asia, PivotalPath

Steve Cohen, chairman and CEO of Point72, speaking to CNBC on April 3, 2024. The firm is aiming to raise $1 billion, with Cohen himself and Point72 employees expected to contribute, the person added. He has called AI a "really durable theme" for investing, comparing the rise to the technological developments in the 1990s. I think the markets are discounting some of what we … think AI is going to do for companies," the Point72 founder said in a CNBC interview in April. Cohen said his investment firm found a way to save $25 million by using large language models such as ChatGPT to improve efficiency.

Persons: Steve Cohen, Steve Cohen's Point72, Cohen, Point72 Organizations: CNBC, Bloomberg News, Nvidia, Mets

☆ Billionaire Steve Cohen's $33.9 billion Point72 sheds stockpickers
▼ + stars: | 2024-05-07 | by ( Bradley Saacks | Alex Morrell | ) www.businessinsider.com time to read: +2 min

Billionaire Steve Cohen's Point72 has cut at least seven long-short equity portfolio managers. The firm, which is up 5.9% in 2024 through April, has dozens of portfolio managers across strategies. AdvertisementBillionaire Steve Cohen's Point72 has cut at least seven long-short equity portfolio managers, several people close to the fund told Business Insider. As of last September, the firm had 100 long-short portfolio managers. Five more macro portfolio managers joined the firm in March, Bloomberg previously reported, and the total number of macro teams now stands at more than 50.

Persons: Steve Cohen's Point72, —, Brevan Howard, Schonfeld, Point72, Mo Grimeh Organizations: Service, Business, Bloomberg, Millennium

☆ State of macro: Hedge funds Point72 and Pan Capital are adding talent, while Schonfeld, Brevan, and Walleye cut back
▼ + stars: | 2024-03-26 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Read previewIn what has been billed to be the year of macro, hedge funds are taking diverging paths on the sector. This story is available exclusively to Business Insider subscribers. Related storiesTwo people familiar with the changes told Business Insider that Jaime Villa, Schonfeld's head of macro research, is no longer with the asset manager. And despite the popularity the strategy might have with allocators at the moment, funds are still quick to cut underperformers. Brevan Howard, one of the biggest macro players in the world, cut dozens of investors earlier this month after its biggest loss on record in February.

Persons: —, Chris Rokos, Jaime Villa, Schonfeld's, Villa, Colin Lancaster, Mitesh, Jerome Sargoussi, Eisler, Raj Sethi, Brevan Howard, Steve Cohen's Point72, Mo Grimeh, Bloomberg —, Grimeh, Brett Gardocki — Organizations: Service, Federal, Business, Pimco, KKR, SPX, Walleye, Bloomberg, Millennium, Pan, Former Walleye Locations: Schonfeld's London, New York, Minnesota, Stamford, Houston, Hong Kong

☆ Schonfeld's strong start to 2024 has the once-imperiled manager besting larger peers
▼ + stars: | 2024-03-05 | by ( Bradley Saacks | Alex Morrell | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The $10 billion manager returned 1.5% last month in its flagship fund, pushing its 2024 returns to 3.3% for the year, sources close to the firm told Business Insider. Since September, when Schonfeld was drumming up cash and cutting costs, the firm has returned 6.2% in its flagship fund and 7.4% in fundamental equity. Its 2023 performance to date has the New York-based manager leading its multi-strategy peers, including Millennium and Ken Griffin's Citadel. AdvertisementBalyasny, which trailed peers in 2023, was flat last month, while Michael Gelband's ExodusPoint was up 0.7%.

Persons: —, Schonfeld, Griffin's, Steve Cohen's Point72, Michael Gelband's ExodusPoint Organizations: Service, Schonfeld Strategic, Millennium, Business, Investors, Griffin's Citadel, Citadel Wellington Locations: Asia, York, Wellington

☆ How Dmitry Balyasny's $21 billion hedge fund is looking to get ahead in the war for investment talent
▼ + stars: | 2023-11-28 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +6 min

One firm he was considering stood out to him: Dmitry Balyasny's namesake hedge fund and its program for up-and-coming portfolio managers, Anthem. Hedge funds are finding that to win the talent wars, it's not enough to have deep pockets to attract portfolio managers. He said that in the past year, $21 billion Balyasny had hired 40 portfolio managers. Its global equities head left in October, as did several other portfolio managers . They operate within a risk framework that is tighter than that imposed on veteran portfolio managers at the firm.

Persons: Sebastiaan De Boe, Dmitry Balyasny's, De Boe, Balyasny, It's, quants, Bridger, it's, they're, Bill Wappler, Wappler, Steve Cohen's Point72, They're, who've, who's, Seb Organizations: Citadel, Business, BAM, Kids Investors Conference, Millennium Management, Equity, Balyasny Asset Management, Balyasny, London Business School Locations: Toronto, Chicago, multistrategy, quant, Europe, London

☆ Where are they now: The many fascinating Bridgewater employees from the book on Ray Dalio 'The Fund'
▼ + stars: | 2023-11-16 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +17 min

The new book, "The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend" — which Dalio and his lawyers have pushed back against — describes everything from Bridgewater's investment process to internal grudges and backstabbing to allegations of sexual harassment. Here are the places where the dozens of Bridgewater employees and consultants named in the book ended up. Dalio, the book said, wrote into the firm's bylaws that he could never hold that title again. Before that, she was the head of investment research and a co-chief investment officer for sustainability. He's worked at different funds since leaving in 2006, including Larch Lane Advisors and Bonaccord Capital as an investor and business-development professional.

Persons: Rob Copeland's, Ray Dalio, Dalio, —, Bridgewater, Greg Jensen, YouTube Dalio, nixed, Copeland, He's, Jensen, Eileen Murray, Morgan Stanley, David McCormick, Dina Powell, McCormick, Dave McCormick, Michael M, Nir Bar Dea, Stefanova, Dalio's, Paul McDowell, Bob Eichinger, McDowell, Eichinger, Jen Healy, Osman Nalbantoglu, Matthew Granade, Steve Cohen, Steve Cohen's Point72, Bob Prince, politicking, Karen Karniol, Bridgewater Associates Karen Karniol, Vladimir Putin, Bob Elliott, Elliott, James Comey, Winn McNamee, Barack Obama, Donald Trump, Hillary, Britt Harris, Bridgewater's, Julian Mack, L, Michael Partington, Spencer Stuart, Niko Canner, Jon Rubinstein, Beck Diefenbach Jon Rubinstein, Steve Jobs, Tom Adams, Rosetta Stone, J, Michael Cline, Cline, Kevin Campbell, Campbell, Craig Mundie, Bill Gates, Gates, Mundie, Bill Clinton, George W, Bush, David Ferrucci, IBM's Watson, Ferrucci, Keith Alexander, Alexander, Larry Culp, Culp, Jamie Gorelick, conscientiously, Clinton, Jared Kushner, Jesse Horwitz, Comey, Horwitz, Samantha Holland, Perry Poulos, Murray, Joe Sweet, Tara Arnold, Arnold —, Leah Guggenheimer, She's, Charles Korchinski, Harris, Kent Kuran Organizations: New York Times, Bridgewater Associates, Business, Bridgewater, YouTube, HSBC, Broadridge, Life Insurance, Wells, Treasury Department, Republican, Getty, GOP, Israel Defense Forces, Marto, Princeton University, McKinsey, Point72, Bridgewater didn't, Domino Data, CircleUp, FBI, Trump, of, University of Texas Investment Management Co, Apple, Dalio, Health, Cognition, Mundie, National Security Agency, Amazon, General Electric, Boston Globe, Electric, Trump White House, Harvard Law School, —, Hubble, Stefanova's Marto, HBR Consulting, MIO Partners, Burford, Larch Lane Advisors, Bonaccord, Eaton Partners, Stanford, NextEra Energy Resources Locations: Bridgewater, Connecticut, Pennsylvania, China, San Francisco, of Texas, Atlanta, WilmerHale, Asia, India, Shanghai, Singapore, Israel, Africa

☆ Insider Today: You should buy a house now
▼ + stars: | 2023-10-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementIn today's big story, we're looking at why it's a good time to buy a house. RichLegg/Getty ImagesIt's a pretty terrible time to buy a house these days, which is why it's a good time to buy a house. AdvertisementAdvertisementInsider's Jennifer Sor detailed why it's a good time to buy a house. Part of the issue is that mortgage rates won't magically drop overnight. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: OpenAI's Sam Altman, Jennifer Sor, Jacob Zinkula, they're, that's, Gen Zers, who's, it's, Doug Haynes, Haynes, Steve Cohen's Point72, Leon Cooperman isn't, Arantza Pena Popo, carmakers, EVs, Tyler Le, Satya Nadella, Mathias Döpfner, Axel Springer, Jensen Huang, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: FBI, RichLegg, Norias Research, Investments, Ameriprise, Insurance, Microsoft, Activision Blizzard, Nvidia, ZTE Corp, Philips, NBA Locations: West Palm Beach, Fla, Tokyo, Oklahoma City, New York City, San Diego, London, New York

☆ Doug Haynes — the former Point72 president who resigned after a #MeToo scandal — is hoping to raise $1 billion for his new fund
▼ + stars: | 2023-10-20 | by ( Bradley Saacks | ) www.businessinsider.com time to read: 1 min

Norias Research Group is a new "quantamental" hedge fund based in Florida. Haynes founded Norias after executive positions at Steve Cohen's Point72. Haynes resigned from the fund in 2018 and was accused in a lawsuit of sexual discrimination. Doug Haynes, who resigned from Steve Cohen's Point72 in 2018, a month after being named as a defendant in a sexual discrimination lawsuit, hopes to raise $1 billion for his new fund, two sources close to the fund told Insider. The new fund, named Norias Research Group, will be based in West Palm Beach, the ritzy enclave many financiers have moved to in Florida.

Persons: Haynes, Steve Cohen's Point72, Doug Haynes, HFM Organizations: Norias Research, West Palm Beach Locations: Florida, West Palm

☆ Wall Street's typical career path might have a massive detour thanks to AI
▼ + stars: | 2023-09-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

As for today's edition, we're looking at how AI could upend the job of the junior banker, and the effect that'll have on Wall Street's traditional career path. AdvertisementAdvertisementAspiring financiers need to look no further than investment banks' analyst programs to get a foot in the door. But this crucial piece of Wall Street's ecosystem could be upended by the rise of artificial intelligence. AdvertisementAdvertisementBuy-side firms have largely held off on going after college graduates, instead pointing them toward banks' analyst programs. Regardless of what direction things go, what's clear is the type of work AI excels at falls directly in junior bankers' wheelhouse.

Persons: Insider's Bianca Chan, Emmalyse Brownstein, Alyssa Powell, Steve Cohen's, Cohen, millennials, Elon Musk, Mark Zuckerberg, Jeff Bezos, ChatGPT, Xavier Lalanne, It's, Saint, Givenchy, Donald Glover, Childish Gambino, Will Smith, Catherine Zeta, Jones, krisanapong detraphiphat, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Guild of America, Hollywood, Tech, LinkedIn, Meta, National, Costco, Lowe's, Tractor Supply, Brands, Getty Images Finance Locations: Wall, Silicon, Paris, New York City, San Diego, London, New York

☆ Where Steve Cohen's Point72 Ventures sees opportunities in fintech, from generative AI to solving gamers' payments woes
▼ + stars: | 2023-07-27 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Tripp Shriner is a managing partner at Point72 Ventures, the VC arm of Steve Cohen's hedge fund. Point72 Ventures is now actively looking for new fintech investments after what it said was "a quieter period"— it last invested in payment startup Pagos' $34 million Series A in February. "We're still early, getting toward the check-writing side of things," Tripp Shriner, managing partner and fintech investor at Point72 Ventures, told Insider. The investment themes lay the groundwork for where Point72 Ventures will spend its time and money in the coming months and years. Point72 Ventures' approach to AI is largely guided by how financial firms want to use the tech.

Persons: Tripp Shriner, Steve Cohen's, Fintechs, We're, Shriner, it's Organizations: Point72 Ventures, Point72, Mastercard Locations: fintech, KYC

☆ How Citadel, Millennium, Point72 and other hedge fund giants stack up as they enter the second half of a challenging year
▼ + stars: | 2023-07-06 | by ( Alex Morrell | ) www.businessinsider.com time to read: +2 min

Hedge funds have reached the halfway point in a challenging year. The first half of 2023 was not how hedge fund managers drew it up. They invested heavily in global macro hiring late last year, expecting plenty more runway in the strategy's revival after a blockbuster 2022. Overall, the hedge fund industry lags far behind, gaining just 1.23% through May, according to the HFRI Fund Weighted Composite Index. Citadel's strength has been one of the few certainties in an otherwise uncertain year for hedge funds.

Persons: Ken Griffin's, Izzy Englander's, Here's, Steve Cohen's Point72 Organizations: Millennium, Suisse, HFRI, Ken Griffin's Citadel, Citadel Wellington, Carlson, Global Locations: Wellington

☆ How Citadel, Millennium, D.E. Shaw, and Other Hedge Funds Fared in May
▼ + stars: | 2023-06-07 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

This year, it remains the top-performing multistrategy fund, just ahead of Steve Cohen's Point72. Here's how multistrategy hedge fund giants fared in May, from Citadel to Millennium. Billionaire Ken Griffin's Citadel continues to lead the competitive multistrategy hedge fund performance race this year, despite being bested for the month of May by Izzy Englander's hedge fund. Returns are still rolling out, but the major hedge fund players did not see major movements within their flagship funds. In other hedge fund news: London-based hedge fund Marshall Wace's Eureka flagship fund, an equity fund managed by founder Paul Marshall, climbed 1.74% in May and is up 1.70% year to date.

Persons: Ken Griffin's, Steve Cohen's Point72, Ken Griffin's Citadel, Izzy Englander's, Marshall, Paul Marshall Organizations: Millennium, Point72, Wellington, Nvidia, Tactical Trading Locations: Citadel, Wellington, Miami, London

☆ Steve Cohen's Point72 fund has likely scored a $100 million gain on Nvidia stock in 2 months as the AI craze persists
▼ + stars: | 2023-05-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Steve Cohen's hedge fund has likely made a $100 million gain on Nvidia after investing last quarter. Cohen recently urged investors to shrug off their fears and ride the "big wave" of AI. Steve Cohen's hedge fund has likely scored a $100 million gain on Nvidia in just two months, thanks to the chipmaker's stock surging on the back of the artificial-intelligence boom. Point72's largest positions included a $523 million stake in Meta Platforms, and more than $400 million worth of stock in both Broadcom and Amazon. He described the burgeoning technology as a "big wave," and predicted it would create new jobs as well as eliminate existing ones.

☆ Multi-strategy hedge funds had mixed results for a mad March. Here's how Citadel, Millennium, and Point72 did.
▼ + stars: | 2023-04-04 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

Multi-strategy hedge funds had a mixed March after the Silicon Valley Bank collapse put markets on edge. The Citadel Wellington fund ended the month up 1.38%, while Steve Cohen's Point72 was up 1.33%. Equities was up 2.16% in March, bringing year-to-date performance to 4.56%. Its global fixed income fund returned 0.12% in March, bringing year-to-date performance to 1.77%. Hedge fund performance figures are still trickling out, but data and reports suggest that trend-following and macro funds were caught out after the banking crisis rocked markets.

☆ SEC asks big hedge funds for employee phone review - Bloomberg News
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +1 min

Feb 2 - The U.S. Securities and Exchange Commission has asked some major hedge funds to review certain employees' personal mobile phones for evidence of business dealings on unapproved channels, Bloomberg News reported on Thursday. The hedge funds include Steve Cohen's Point72 Asset Management and Ken Griffin's Citadel, the report said, citing people familiar with the matter. The SEC and Point72 and did not immediately respond to Reuters request for comment, while Citadel said it had no immediate comment. Reuters reported in October that the SEC's probe had expanded to investment funds and advisers. Reporting by Niket Nishant in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Non-alcoholic beer to continue growing in 2023, Athletic Brewing Company CEO says
▼ + stars: | 2022-12-30 | by ( Ian Thomas | ) www.cnbc.com time to read: +1 min

But the CEO of one of the leading non-alcoholic beer companies said that the demand for non-alcoholic brews is booming well beyond a single month. "This is the moment we've been waiting for in the category," Bill Shufelt, Athletic Brewing CEO, said on CNBC's "Squawk Box "on Wednesday. Long a sleepy category within the broader industry of beer, non-alcoholic beer has seen its growth skyrocket in recent years as bigger beer giants like AB InBev and Heineken launch new products as well as the emergence of independent brewers like Athletic Brewing. The lack of quality non-alcoholic beer options was the impetus for Shufelt, a former trader at Steve Cohen's Point72 Asset Management, to start the Connecticut-based company in 2017, which solely focuses on non-alcoholic brewing. Shufelt said that non-alcoholic beers now make up more than 2% of all beer sold at U.S. grocery stores, and at some national chain retailers, it is upwards of 8% of their beer category.

☆ Public-cloud providers are reimagining themselves as consultants. Here's how AWS, Azure and Google Cloud are helping finance firms use the tech to rethink their business.
▼ + stars: | 2022-11-29 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

In turn, public-cloud providers are reimagining themselves as business consultants. Wall Street firms are embracing the cloud for everything from research to risk and marketing. Cloud providers are building teams to interface with execsFinancial firms making the jump to the cloud are thinking beyond their IT divisions. Some of the largest Wall Street shops are taking the opportunity to rethink how they run their businesses entirely. Wall Street uses cloud to hit the reset buttonSelipsky's comments ring true on Wall Street, where cloud projects can have firm-wide ripple effects.

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