DIRS.INFO The most relevant business & tech news

☆ Want to work in tech on Wall Street? These are the 8 coding languages that are most in demand.
▼ + stars: | 2022-11-18 | by ( Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +2 min

Coding languages are a foundational element of any tech job, but not all are made equal. But skilled technologists or those wanting to make a career switch into tech might still find a home on Wall Street. As it turns out, not all programming languages are made equal and some are more relevant to certain corners of Wall Street than others. Insider spoke with recruiters, Wall Street tech execs, and industry insiders, and analyzed job postings to get the low down on in-demand skill sets. Here are the top coding languages to know to land a tech job on Wall Street.

☆ Private equity is ready to make moves as the economy sours, but its approach to dealmaking might be different than in years past
▼ + stars: | 2022-11-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

When the going gets tough, PE gets going. Insider's Casey Sullivan and Rebecca Ungarino examined one segment of Wall Street that is primed to take off despite an economy that has left almost everyone hurting. The big question is where will PE firms look to deploy capital. How long PE firms resist those types of deals still remains to be seen, though. People who left Wall Street for crypto aren't second guessing themselves.

☆ Private equity is opening up to the public cloud, setting up a new battleground for AWS, Microsoft, and Google to win over Wall Street
▼ + stars: | 2022-11-15 | by ( Bianca Chan | ) www.businessinsider.com time to read: +7 min

Like other Wall Street firms upended by the technology, PE firms' motivation to make the move is tied to harnessing the copious amounts of data they manage. GFT works with more than 20 private-equity firms for digital transformation, including a handful of tier-one PE companies, he said. Some PE firms have tried to leverage their scale for pricing discounts among cloud providers, Mahenthiran said. Major cloud providers, like AWS, Microsoft Azure, and Google Cloud Platform, have been hungry for more Wall Street market share. But the wait-and-see approach has put PE companies far behind their Wall Street peers.

☆ Vanguard's head of tech details the asset manager's move to the public cloud that's already helped it cut costs by 30%
▼ + stars: | 2022-11-07 | by ( Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +5 min

Vanguard's tech chief is ready to play the field when it comes to the public cloud. Since Vanguard's first big push into public cloud in 2019, the firm has primarily relied on Amazon Web Services for much of its cloud tools. Similarly, he referenced the potential of Google Cloud Platform's "analytics capabilities" as another potential selling point. The public cloud is one of five main pillars of Vanguard's broader modernization of its application portfolio that began around 2019. In 2021, AWS detailed how the tech giant meets with Vanguard's Cloud Business Office monthly to review costs, and in one instance reduced its serverless compute expenses by 50%.

Meanwhile, the number of "mega-deals" — or funding rounds of more than $100 million — dropped to its lowest level since 2018, CB Insights also reported. According to CB Insights, the volume of payments-related dealmaking reached nearly $4 billion, or slightly less than a third of all fintech funding. And while that's not a record-breaking amount, payments are accounting for a larger amount of the fintech funding pie. One year ago, when third-quarter fintech funding topped $36 billion in the midst of a bull market, payments accounted for roughly 20% of overall funding volume. But even amid a relative pullback in broader fintech funding, payments represent a safe, evergreen thesis because it is a largely complicated and analog space.

☆ American Express just hired a new top cloud executive who was the CTO at Groupon and led tech at Goldman Sachs' Marcus
▼ + stars: | 2022-11-01 | by ( Bianca Chan | ) www.businessinsider.com time to read: +2 min

American Express just hired Sachin Devand as EVP and unit CIO of digital, data, and AI/ML tech. Devand is the former CTO of Groupon and was a managing director at Goldman Sachs. American Express just nabbed a new top cloud executive to oversee the development of cloud-based solutions, Insider has learned. Sachin Devand, the former CTO of ecommerce marketplace Groupon, joined the company on Monday after only eight months at Groupon, according to a person familiar with the situation. During his stint at Groupon, Devand was focused on increasing automation and streamlining the company's tech stacks.

☆ Fintechs have been getting crushed this year, but the sector's biggest investors say payments are a key area to watch in 2023. Here's what they are most excited about.
▼ + stars: | 2022-10-26 | by ( Emilia David | Carter Johnson | Bianca Chan | ) www.businessinsider.com time to read: +2 min

☆ Morgan Stanley CEO James Gorman says there's about to be a "washout" of fintech valuations and a wave of consolidation. Here's how the bank is thinking about potential deals.
▼ + stars: | 2022-10-14 | by ( Hayley Cuccinello | Bianca Chan | ) www.businessinsider.com time to read: +4 min

Morgan Stanley CEO James Gorman predicted a "wash out" for fintech firms in an earnings call. The market is volatile, but Morgan Stanley CEO James Gorman sees it as a return to normalcy. Companies trading at 50 times revenue, what's gone on with Bitcoin trading at $60,000, and what's gone on with GameStop and other companies," Gorman said in the third-quarter earnings call on October 14. Consolidation in the fintech space is nothing new to Morgan Stanley, he added. Fintech founders, however, have been reluctant to face their new reality, according to a slew of VCs.

Organizations: & $

☆ Google and Amazon are two of the biggest poachers of Goldman's tech talent. We mapped out the top 10 firms snapping up the bank's recent departures.
▼ + stars: | 2022-10-12 | by ( Bianca Chan | Carter Johnson | Dakin Campbell | ) www.businessinsider.com time to read: +7 min

Amazon was the biggest poacher of Goldman tech talent from June to August. The organization tracked the LinkedIn profiles of people who left Goldman Sachs and picked up another job from June through August. Wall Street's tech hiring ambitions ramp up as tech powerhouses and startups pull backNonetheless, the demand for tech talent on Wall Street has remained strong. JPMorgan, the biggest beneficiary of the departures, hired 18 former Goldman Sachs employees. Citi and Morgan Stanley were also among the top poachers of Goldman talent, with the firms both scooping up 12 Goldman employees each.

Insider asked more than 40 investors to identify top up-and-coming fintechs. Investors nominated startups both inside and outside of their own portfolios. Insider surveyed 43 investors — including those from Bain Capital Ventures, Lightspeed Venture Partners, and QED Investors — about the most promising fintechs to watch. Startups that were nominated included a mix of investors' portfolio companies and ones they have no financial interest in. As was the case last year, the majority of those nominated work with other businesses, not individual consumers.

Parafin, launched in 2020, works with so-called platform partners, or companies that other small businesses sell their products through. All the cofounders knew was that they wanted to build technology that would help small businesses. And they may not get their first contract payment from the government for as long as 120 days," Reed, the startup's CEO, told Insider. Helping small businesses manage their taxesComplYant's founder Shiloh Jackson wants to help people be present in their bookkeeping. HoneyBookWhile countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.

☆ From quantum computing to augmented reality, here's how 10 top Wall Street firms are looking to use cutting-edge tech
▼ + stars: | 2022-09-26 | by ( Carter Johnson | Bianca Chan | ) www.businessinsider.com time to read: +3 min

JPMorgan is preparing for a quantum futureDavid Castillo, Andrew J. Lang, and Marco Pistoia. The difference could allow users of the tech to process algorithms and execute calculations at blistering speeds. That's because quantum computing uses quantum mechanics, a kind of physics that leverages quantum bits, or qubits, instead of ones and zeros used by classic computers. But JPMorgan researchers say there are signs the industry is getting close to the point where quantum computers can process real-world problems faster than classic computers, often referred to as quantum advantage. The platform, run by Castillo, is also hardware-agnostic, meaning it can interface with quantum computers from different providers without needing to rewrite the application code.

Investors nominated startups both inside and outside of their own portfolios. Check out the 61 startups identified as the most promising fintechs. Startups that were nominated included a mix of investors' portfolio companies and ones they have no financial interest in. In total, 61 startups that haven't raised beyond a Series B round were identified. Many investors noted B2B startups are one of the biggest bright spots in the sector as businesses and financial institutions continue to streamline their processes and cut costs where they can.

Insider asked more than 40 top fintech investors to nominate the most promising fintechs. Here are the 61 most promising fintechs. Insider surveyed 43 investors — including those from Bain Capital Ventures, Lightspeed Venture Partners, and QED Investors — about the most promising fintechs to watch. Global fintech funding dropped to $20.4 billion in the second quarter, falling 46% from last year, according to data from CB Insights. Check out the 61 fintechs identified as most promising by top investors.

☆ Inside the little-known team of engineering execs Google Cloud uses as its secret weapon to solve customers' toughest tech challenges
▼ + stars: | 2022-09-09 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Google Cloud's Office of the CTO is a group of former tech execs with engineering experience. Nestled inside Google's burgeoning cloud business is a small group of engineering pros who work on some of the tech giant's most ambitious projects. Finance is another sector target for Google Cloud, which is benefitting from the cloud revolution taking over Wall Street. While the group sits within the cloud business, OCTO can leverage all of Google's resources from research and development to engineering, Rowe said. Through OCTO, Google Cloud is able to keep a pulse on what its customers are thinking about and what they care about.

☆ JPMorgan is trying to harness the power of quantum-computing to solve problems at lightning speed, from options pricing to fraud detection
▼ + stars: | 2022-09-08 | by ( Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +5 min

As an emerging alternative to the traditional computer, JPMorgan execs believe quantum computing could upend how finance firms perform computations. Unlike classical computers, which can store only a one or a zero, quantum computers use quantum bits, or qubits. Qubits can store multiple values at the same time, which theoretically gives the quantum computers big speed advantages. Meanwhile, Fidelity has been exploring the potential of quantum computing in wealth management. Wells Fargo, too, has invested in quantum computing to process complex data structures used for fraud detection.

☆ I went from designing Xbox video games at a Microsoft-backed studio to a software job at Citadel Securities. I was surprised at how many of my skills transferred over.
▼ + stars: | 2022-08-24 | by ( Carter Johnson | Bianca Chan | ) www.businessinsider.com time to read: +5 min

William Archbell works in engineering at the market maker Citadel Securities. Archbell had previously designed video games for a Microsoft-backed gaming studio. I joined the market maker Citadel Securities as a senior software engineer last September, and moved from Santa Monica, California, to Chicago, Illinois. It's similar to Citadel Securities, where we take market data, we do research, and we run experiments to build tech that meets users' needs. But the difference is that at Citadel Securities, the key performance indicators are profit and loss.

☆ These 14 execs are leading the cloud revolution at top Wall Street firms like JPMorgan, Point72, and Citadel
▼ + stars: | 2022-06-06 | by ( Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +2 min

Here are 14 power players on Wall Street leading the industry's push into the cloud. Finance hasn't always been open to public-cloud technology, largely due to security and regulatory concerns. The cloud is currently taking Wall Street by storm, and a new class of power players is emerging with it. The cloud now touches every nook and cranny on Wall Street from investment banking to risk management and marketing. Here are the 14 power-player executives leading cloud strategy, vision, and execution for the country's largest financial firms.

Persons: Finance hasn't, Saul Van Beurden, workloads Organizations: Wall, Finance, Web Services, Google, IBM, Microsoft, Wells Fargo Securities, Wells Locations: Wells, Wells Fargo

☆ The public cloud is changing how Wall Street works. Here's how the tech is upending everything from trading to dealmaking.
▼ + stars: | 2022-02-23 | by ( Bianca Chan | ) www.businessinsider.com time to read: +13 min

Cloud technology has now percolated through nearly every nook and cranny of Wall Street, affecting everything from investment banking to risk management and marketing. What's motivated the recent trend stems from two things that typically elicit change at financial firms: saving money and moving faster. But at least 30 Wall Street firms and well-known fintechs have publicly sided with one provider as a primary partner. "If you look at Wall Street, they have tens of thousands of people in back offices. Take Citibank, which accidentally wired $900 million to Revlon lenders in what is considered one of the largest blunders ever on Wall Street.

Search resuls for: "Bianca Chan"

19 mentions found