Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:
The talent brokers of quant trading: The headhunters at the forefront of Wall Street’s systematic-trading and data-science hiring frenzy
Quant and data-science specialists are the lifeblood of many hedge funds, trading firms, market makers, and banks — and the market for them has never been hotter. As the war for talent heats up, we assembled a list of headhunters who specialize in the field.
4 portfolio companies backed by Two Sigma Ventures laid out the perks they’re offering remote employees, like VR headsets and $10,000 budgets for tricking out their home offices
Two Sigma Ventures
TSV is helping some of its portfolio companies make a permanent pivot to virtual work. See what these four portfolio companies are doing as remote work becomes the new norm.
Goldman Sachs wants to hold onto its richest clients’ kids. The bank’s private wealth heads explain how its Marcus unit is helping them do that.
With the world’s largest-ever transfer of wealth between generations underway, Goldman is expanding its offerings and focusing on holding onto the next generation of its clients. We spoke with Meena Flynn and John Mallory, the bank’s private wealth co-heads, who detailed their strategy for us. Here’s what they said.
The trading firms that employ quant and data-science specialists are highly secretive, as are the recruiters they work with. So we spoke with more than two dozen recruiters about their competitive, stealthy field. Take a look inside the world of Wall Street quant recruiting.
Barclays dropped plans to raise $850 million for private-prison manager CoreCivic through Alabama after activists cited the bank’s previous promise to not fund private prisons. Find out more here.
Wells Fargo is paying its corporate and investment-banking analysts and associates special bonuses up to $20,000 spread across 6 months
Wells Fargo Securities is the latest financial firm to give its young talent gifts after a grueling year handling significant deal volume while isolated at home. Read more here.
CastleKnight Management, founded by Appaloosa partner Aaron Weitman and backed by billionaire David Tepper, has had a fantastic first six months. Get a rundown on its early returns.
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HSBC executives no longer have their own offices. Instead, they’re being asked to use “hot desks,” or rotating workstations. More on that here.
A document shared with Insider gives a glimpse into how the bank plans to forge ahead with its new NYC headquarters. See more here.