JPMorgan’s Jamie Dimon says bankers ‘dancing in the street’ on Trump win
JPMorgan Chase & Co. CEO Jamie Dimon said Wall Street bankers expect President-elect Donald Trump to ease strict regulations across industries, regardless of who they vote for. He said they were “dancing in the streets” over his victory. “A lot of bankers are like dancing in the street, because there's been regulations that have been […]
China Taps Global Bankers for Feedback to Lift Market Confidence – Yahoo Finance
(Bloomberg) — China’s securities regulator is gradually increasing the frequency of its interactions with banks around the world, according to people familiar with the matter, with the aim of gathering views on recent economic stimulus measures. Consultations that used to be held quarterly have been stepped up to once a week or occasional inquiries in […]
Goldman Sachs names dozens of bankers to ‘Wall Street’s most exclusive club’
Goldman Sachs named 95 new partners Thursday, adding dozens of bankers to Wall Street's most exclusive club. This is the highest number since former CEO Lloyd Blankfein promoted 115 financiers in 2006. Goldman's latest class of new partners includes 26 female bankers, the largest group to date since David Solomon became CEO in 2018. The […]
Wall Street CEO Peter Orszag downplays worries about junior bankers’ long hours
Wall Street's top chief executive has rejected concerns that young bankers are suffering from burnout, arguing that junior staff should be able to tolerate long hours in “interesting” work. Lazard CEO Peter Orszag appeared to downplay criticism that newcomers to the banking industry are overworked, even as JPMorgan is limiting the hours of junior team […]
Bank of America is making it harder for junior bankers to lie about their work hours – Fortune
Bank of America is rolling out new tools to more closely monitor the hours worked by junior investment bankers, part of a larger trend by banks to limit the hours of younger employees in the months following the sudden death of a junior associate. Bank of America's new monitoring tools, due to take effect next […]
Wall Street Dems are rallying for Kamala Harris — will bankers make the same mistake they made with Obama in ’08?
With the media hyping up the possibility of former dork-turned-cool-brat Kamala Harris becoming president, Wall Street Democrats aren’t wasting any time jumping on the bandwagon to convince the undecided billionaires that Harris is the winner in November’s election. Wall Street executives should support her and they will not regret it. History shows they will regret […]
Central bankers love the ‘childless cat ladies’ JD Vance ridiculed
Andrew Jackson, who appears on the $20 bill, is a misunderstood president. He is known primarily for his mistreatment of Native Americans and the passage of the Indian Removal Act, a reputation that obscures Jackson’s true accomplishments: he took on the central bankers and defeated them. The loan shark is the enemy of the family: […]
Wall Street junior bankers still battling burnout by logging gruesome 100-hour weeks amid Leo Lukenas’ death: survey
A recent survey found that many junior Wall Street bankers are battling burnout after working 100-hour weeks, with some even risking their health or sleeping in the office. Concerns about their grueling work schedules come as debate about the industry’s work culture intensifies following the death of Leo Lucenas, a 35-year-old Bank of America associate […]
Sinaloa Cartel Laundered Money with Help from Chinese Underground Bankers
Federal authorities have found that members of the Sinaloa Cartel used an underground banking network in China to launder more than $50 million in drug proceeds. This week, the U.S. Department of Justice Ten indictments were unsealed. It indicted 24 men on charges of participating in an international conspiracy involving individuals from California, Mexico and […]
Pressure mounts on senior bankers as discontent in junior ranks simmers – Financial Times
Get your free copy of Editor’s Digest FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. On message boards such as Wall Street Oasis and Reddit, junior investment bank analysts have been posting complaints about the long hours and the impact they are having on their mental and physical health, and are […]