Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:
Money managers from Apollo to BlackRock are scrambling to capitalize on investors’ demand for private markets. Here are 16 people leading that push.
These are the key leaders pushing asset-management firms to ramp up alternative-investment distribution efforts. Check out our list here.
BlackRock employees at the director level and below will see a bump in their base pay starting Sept. 1. The internal announcement followed months of Wall Street banks raising junior pay (we’ve been keeping tally of the firms that are raising pay — check out our list here).
Bank of America’s top tech leader Cathy Bessant named a new right-hand exec to help oversee more than 95,000 employees
Sumeet Chabria, Bank of America’s head of global business services, is now also COO of global tech and ops. Here’s what we know about his expanded role.
Morgan Stanley’s CEO wants employees back to the office by Labor Day, but the bank just told its newest crop of juniors they can head in as early as this month
New juniors in investment banking and capital markets are eligible to head in as early as July 27, employees learned during an internal
call. More details from the meeting.
United Development Funding sued Bass, saying his “short-and-distort” strategy devastated its business. Get the full rundown here.
Goldman Sachs and JPMorgan this week reported records in their prime brokerage businesses. Read more here.
Global shipping delays and supply-chain disruptions are playing a role in lower commercial lending. Here’s what’s going wrong.