JPM Top Exec Mary Erdoes: "There''s A Reason" Junior Bankers Must Work 72 Hour Weeks As debate continues to rage about what the "appropriate" amount of work is for junior investment bankers, Mary Erdoes, chief executive officer of JPMorgan Chase & Co.s asset and wealth management business is weighing in with an opinion that the snowflakes complaining about their workload might not like. Erdoes says that "there''s a reason" that junior bankers are forced to work 12 hour days, six days a week, according to Bloomberg. She says the hours will "help them master the job in two to three years" instead of the five years it would otherwise take. If you think 10,000 hours is about what you need to master any subject, if someone comes in and has a regular, eight-hour-a-day job, five days a week, its gonna take about five years to have a base-level mastery, she told David Rubenstein on Bloomberg Wealth. She continued: On Wall Street, its more like 12 hours a day, six days a week. That cuts you down to about two and a half years before you become mastered in something. She also told the story of starting in the industry by balancing her grandmother''s checkbook at the age of 6, earning a few of "a few dollars a month". 2,200 new analysts will be starting training with JP Morgan this summer.
Goldman Sachs is now settling and clearing crypto-linked Exchange Traded Products (ETPs) for its European hedge fund clients.
The mobile and broadband operator, which has roped in Goldman Sachs as principal of the programme, said the buy-backs will start on July 26 and end by November 17
The post Macro Guru Raoul Pal Says Hes Accumulating New Crypto Asset in Addition to Bitcoin and Ethereum appeared on BitcoinEthereumNews.com . Macro analyst and former Goldman Sachs executive Raoul Pal says hes expanding his portfolio beyond Bitcoin and Ethereum. In a new interview on Real Vision, Pal says hes gravitating toward
Macro analyst and former Goldman Sachs executive Raoul Pal says he''s expanding his portfolio beyond Bitcoin and Ethereum.
A NEW US$150 million venture capital fund in Japan, launched by former Goldman Sachs vice-chair Kathy Matsui, made the headlines recently as one of Japan''s first environmental, social and governance (ESG)-focused venture capital funds.
Summary List Placement Vio Bank (Member FDIC) pays high rates on its high-yield savings account and CDs. Vio has CDs with terms up to 10 years, and the minimum deposit is only $500. There''s no checking account, and its savings account is a bit more basic than what some banks offer. See Insider''s picks for the best high-yield savings accounts » Table of Contents: Masthead Sticky This post was last reviewed and updated on July 23, 2021. The bottom line: Vio Bank Online High-Yield Savings Account offers a good high-yield savings account and CDs, but you''ll need to look elsewhere for more banking products. Overall bank rating Feature Insider rating (out of 5) Savings 4 CD 4 Trustworthiness 5 Total: 4.25 Pros and cons Pros: Cons: High rates on savings and CDS Variety of CD term lengths No checking account or money market account options High early withdrawal penalties on CDs Savings Product Card 5ea34ed5a2fd910b832ebf1b You''ll get plenty of bang for your buck with this savings account. Vio Bank Online High-Yield Savings Account doesn''t charge monthly service fees, and it pays a high interest rate.
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Goldman Sachs incubated Fintech firm SIMON will be raising up to $100 million through a Series B round led by WestCap.
Goldman Sachs isnt the only bank making such a move. Bank of America has also been offering the clearing and settlement of crypto ETPs.
Summary List Placement Thirty-three percent of US institutional investors held digital assets as of April, up from 27% in March 2020, per a Fidelity Digital Assets survey of 408 US respondents. Digital assets cover cryptocurrencies, crypto assets, virtual currencies, and crypto tokens. This tracks with a prediction Insider Intelligence made coming into 2021: that four in 10 US institutional investors would have some portfolio exposure to digital assets by the end of the year. With many months to go before the end of the year, we may very well reach this threshold, especially since 69% of respondents said they plan to add digital assets in the near future. What is driving this adoption? Survey respondents pointed to digital assets'' high potential upside and lack of correlation with other asset classes as key reasons to invest. Meeting this demand presents significant growth opportunities, as seen with crypto asset managers Grayscale''s and Coinbase''s surging institutional AUM. Financial institutions also want a piece of the action and have added crypto services in recent months, including Goldman Sachs, Morgan Stanley, and even JPMorgan despite its CEO repeatedly criticizing the asset class.
Summary List Placement Katie Jacobs Stanton spun up her debut fund as a solo capitalist, but she''s no longer going it alone. Her firm Moxxie Ventures has hired Alex Roetter as an equal general partner. They''ve known each other for 18 years, overlapping at both Google and Twitter. Most recently, Roetter was at a fledgling flying-car startup, Kitty Hawk. GV has added two heavy-hitters to invest in the next generation of startups across enterprise and fintech: Crystal Huang and Sangeen Zeb . The two have a number of hot deals between them, including Huang''s investments in Tile and Wish, and Zeb''s bets on Attentive, Confluent, Databricks, Robinhood, and UiPath. The hiring spree at Andreessen Horowitz continues: Melissa Wasser has made the leap from investment banking to venture. Before Andreessen Horowitz, Wasser spent a decade at Goldman Sachs in private equity and later was managing director of Financial Technology Partners, a fintech-focused bank. She is the venture firm''s third partner based in New York.
Summary List Placement TGIF, readers! It''s time to prepare for the weekend by unwinding with some of our best reads spanning real estate, food, and entertainment. We''re going to introduce you to a luxury watchmaker who splits his time between Dubai and Geneva, give you a tour of a ritzy private club in New York, and explain why you might have a hard time getting a wax this summer. Let''s dive in. If this was forwarded to you, sign up here. For more of our newsletters, sign up here. Swimply, an app that''s been dubbed the "Airbnb for pools," has surged in popularity over the course of the pandemic, growing 4,000% in the past year alone. The app offers 13,000 pools from Los Angeles to New York and some people are renting out their luxury swimming holes to generate over $100,000 in income. Find somewhere to swim this summer. Just two hours north of New York City, Silo Ridge is a luxurious gated community and private club that has lured A-list guests from Bill Gates to Reese Witherspoon. We spent a day at the exclusive members-only club, where the wealthy escape to homes starting at $2.7 million.
London-based buy now, pay later lender Zilch has extended its Serie B round by a further $110 million in debt and equity, with backing from Goldman Sachs and the venture capital arm of UK newspaper Daily Mail. This brings the total raised by the startup to more than $200M, following an $80 million financing  The post London BMPL Player Zilch Extends Series B by $110 Million appeared first on Financial Technology .
London-based buy now, pay later lender Zilch has extended its Serie B round by a further $110 million in debt and equity, with backing from Goldman Sachs and the venture capital arm of UK newspaper Daily Mail.
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