Add news
March 2010
April 2010
May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020
News Every Day |

Citi wages war with hedge funds — Pimco takes on BlackRock's Aladdin — Balyasny's PM training program

stock broker exchange wall street face mask

Happy hump day.

Wall Street's attempt at returning to some form of normalcy has already hit its first roadblock. 

JPMorgan had to send some employees home after someone on its equities trading team tested positive for the coronavirus, as reported by Bloomberg.

It was difficult timing for Wall Street's biggest bank, as its chief executive, Jamie Dimon, had just finished speaking at a conference about the importance of returning to work and reopening cities.  

If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.

Like the newsletter? Hate the newsletter? Feel free to drop me a line at or on Twitter @DanDeFrancesco

Citi wages war with hedge funds

Michael Corbat
DAVOS 2016; World Economic Forum -- Pictured: Michael Corbat, CEO of Citigroup, in an interview at the annual World Economic Forum in Davos, Switzerland, on January 21, 2016 -- (Photo by: David A.Grogan/CNBC/NBCU Photo Bank via Getty Images)

Back again with another great story out of Dakin Campbell, who has a scoop about Citigroup freezing out the firms it's locked in a legal battle with over the $900 million wire it mistakenly sent. 

In case you missed it, Citi is currently at odds with about a dozen hedge funds and investment firms that refuse to return money the bank mistakenly sent to them last month on behalf of Revlon.

Most financial firms in that position would look to the legal system to try and claw their money back, something Citi has already done

But, Citi has another trick up its sleeve. Being one of the most powerful banks on Wall Street has its perks. And the bank has leveraged its position as a key trading partner to freeze out the firms it's at odds with

Click here to read the full story.

Zumper, a home-listing site that has raised $150 million from backers like Blackstone and Kleiner Perkins, weeded out thousands of Section 8 renters in a practice some experts say may amount to discrimination

real estate broker

Daniel Geiger has an absolute must-read story about home-listing site Zumper. Daniel got his hands on some data that shows how the startup, which has big-name backers like Blackstone and Kleiner Perkins, screens lower-income tenants who receive government assistance. This is one you want to give a read.  

Inside $8.3 billion Balyasny's Anthem training program, where aspiring portfolio managers are handed hundreds of millions of dollars to prove they can cut it

Dmitry Balyasny speaks at the 2018 Milken Conference in Beverly Hills, California.

Think you have what it takes to be a portfolio manager? Balyasny Asset Management has a program for you. Reed Alexander and Bradley Saacks have all the details on how the $8.3 billion hedge fund finds its next money managers. Here's the full story

$1.9 trillion PIMCO just launched a new tech team aimed at taking on BlackRock's massive Aladdin business — read the full memo here

Emmanuel Roman
PIMCO CEO Emmanuel Roman

BlackRock's Aladdin is arguably one of the most successful tech platforms since the wake of the 2008 financial crisis. So, it's no wonder others would look to challenge its business. Enter $1.9 trillion PIMCO. Bradley Saacks and Rebecca Ungarino have a memo outlining the giant asset manager's plans

A majority of Goldman Sachs' summer interns prefer Instagram to TikTok, believe remote work hurts relationships, and think Biden will be elected president in November

Joe Biden
Joe Biden

Biden over Trump. Instagram over TikTok. Dogs over cats. These are some of the takeaways from Goldman Sachs' annual intern survey. Reed Alexander has the entire story here.

 Odd lots:

Davis Polk announces surprise associate bonuses of up to $40,000, becoming the latest firm to tout its financial strength amid the pandemic (BI)

Silver Lake-Led Group Pours $650 Million Into Payments Company Klarna (WSJ)

The rise of another Indian at Masayoshi Son's SoftBank (The Economic Times)

After Wirecard, Ernst & Young Says Auditors Should Focus More on Fraud Prevention (WSJ)

Viral videos of a 'UFO' in New Jersey really captured a Goodyear blimp (Insider)

Read the original article on Business Insider

Read also

'Every match is a battle – I'm ready': Simona Halep in confident mood ahead of French Open challenge

Elton John Announces New North American Dates For “Farewell Yellow Brick Road Tour”

Who should get the Covid-19 vaccine first? The equality vs. equity debate, explained.

News, articles, comments, with a minute-by-minute update, now on — latest news 24/7. You can add your news instantly now — here