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Inside Goldman Sachs’ investor day; meet up-and-coming FAs; Barclays’ MD hiring push


In case you have not heard by now, Goldman Sachs held its first-ever investor day this week.

No worries for those who did not get round studying by the a whole lot of pages of displays — we had been on it Wednesday morning and picked out these 10 critical slides.

Dakin Campbell was on-site at 200 West for the much-hyped occasion and reported on what the vibe was like. Chief Executive David Solomonreceived issues began by telling the viewers to carry their questions till the afternoon, however added that they had been free to interrupt into spontaneous applause every time it moved them.

Cubicles arrange within the foyer featured Goldman workers in light-blue tops demonstrating the agency’s new digital transaction-banking dashboard and its Marquee trading platformon giant flat screens. Most of the cubicles lacked partitions and had one thing of a Restoration {Hardware} meets Apple retailer look.

His story is a must-read to understand Goldman’s pitch, learn who said what, and even find out what food the bank served up along with its vision for the coming years(Avo toast made an look — TBD if that craze will see the tip of any three-year plans.)

Talking of laying out a path for the longer term, Rebecca Ungarino spoke with six up-and-coming financial advisersto listen to how they’re constructing their books and connecting with youthful shoppers.

Nonetheless, cracking into a brand new business could be powerful. As Dan DeFrancesco reported, “Billions” cocreator Brian Koppelman needed to get cozy with hedge-fund insiders for analysis functions to make the present as lifelike as potential.

If you aren’t yet a subscriber to Wall Street Insider, you can sign up here.

Fortunately, an in with the CEO of Wheels Up helped. And because the present picked up steam, folks within the hedge-fund world turned extra keen to share insights. However there have been criticisms. Koppleman mentioned one “very, very well-known hedge-fund man” identified that fictional hedge-fund billionaire Bobby Axelrod would by no means fly round in his “sardine can” of a PJ in actual life.

I will wrap up with a scoop on the 2020 hiring entrance. Alex Morrell reported that Barclays has hatched plans to hire double-digit numbers of investment banking MDsthis 12 months, and laid out particulars on what sectors and areas the financial institution is concentrating on within the push.

Learn on to be taught why PE companies are ringing up attorneys to be taught extra about activist methods; how point-of-sale lending startups are partnering with buzzy shopper manufacturers reminiscent of Warby Parker; and why WeWork is eliminating its free beer and wine on faucet.


Regulation-firm Insiders Say They Have Been Getting Calls From Private-equity Execs Asking The Best Way To Go Activist After KKR’s Splashy Stake In Dave & Buster’s

Personal-equity companies typically depend on shut relationships with an organization’s administration to land offers.

However they’re more and more contemplating mounting stakes in public firms — a transfer that may be seen as antagonistic to a CEO — as they search to crank out higher returns in an business bloated with undeployed capital.

PE companies are consulting with attorneys — reminiscent of these at Goodwin Procter in addition to these at Cadwalader, Wickersham & and Taft — about public-company investing prospects, although the PE companies wish to keep away from any reputational hurt that would come from entering into activism.


Four Startups Are Altering The Best Way Millennials Pay For Manufacturers Reminiscent Of Casper And Warby Parker — And Have Attracted Traders Together With Andreessen Horowitz And Snoop Dogg

A buzzy cohort of startups try to redefine how consumers get credit score at checkout.

Retailers have historically provided reductions and promotions in retailer and on-line for consumers who join a retailer’s bank card. And retail-branded bank cards, like these provided by Amazon and Hole, include charges as excessive as 30%, in line with Creditcards.com’s 2019 retail-card survey.

However the variety of these playing cards in circulation has declined steadily since 2009, particularly amongst millennial consumers.

Now various well-funded startups are providing subscriptionlike installment plans to enchantment to millennial consumers who may not need to apply for bank cards from their favourite shops.


WeWork Is Eliminating Free Beer And Wine On Faucet In All Its North American Places — Here Is The Way It’s Explaining The Transfer

WeWork is eliminating free beer and wine on faucet in its North American places of work, marking an enormous tradition shift for the coworking firm.

WeWork places of work have lengthy been identified for having free beer and wine, although in 2018 the corporate modified its coverage so the booze was not limitless. The corporate plans to part out beer and wine faucets throughout all North American places by March.

The transfer applies to WeWork’s member and worker places. The corporate will proceed to serve alcoholic drinks at on-site blissful hours, nevertheless.


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