On the agenda right now:
Let’s get began.
The variety of Black staff holding executive-level roles at Morgan Stanley Funding Administration has remained unchanged since 2019, regardless of CEO James Gorman’s dedication to variety after George Floyd’s demise final yr. Here’s what else we learned from data the firm disclosed to an investor.
JPMorgan is axing upfront charges from the 529 training financial savings plan, a well-liked funding account meant to assist individuals save for faculty. The transfer is a part of the financial institution’s bigger plans to set itself aside in a extremely crowded wealth trade. Get the full rundown here.
GlobeNewswire printed a press launch claiming Walmart would enable consumers to pay utilizing cryptocurrency starting in October — nevertheless it turned out to be faux (and triggered litecoin to spike then sharply fall). So regardless of the retailer signalling an interest in crypto earlier this yr, you still can’t use litecoin to check out at Walmart.
For the primary 90 days of the pandemic, Jason Mudrick had his analysts work 12- to 14-hour days — together with on weekends — to seek out high distressed debt alternatives. Why they spent the first three months of the pandemic “working as hard as we’ve ever worked.”
JPMorgan’s buy of restaurant-review web site The Infatuation might be Wall Road’s weirdest — and smartest — deal of the yr. Monetary corporations are more and more leaning on content material and perks to woo clients, and for JPMorgan, buying The Infatuation is a manner to increase its perks and retain customers in the process.
Hedge funds have piled into personal markets at a report tempo, in keeping with Goldman Sachs. Personal market information is usually a powerful discover, however startups like Forge World and Cyndx, amongst others, consider they’ve discovered a manner in. Here are some tools they’re using to provide private market data to investors.
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