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Dear readers,
Welcome to this week's edition of Wall Street Insider. It was a pleasure to meet so many of our readers on Monday at our IGNITION event: Transforming Finance on the New York Stock Exchange. Technology leaders such as Goldman Sachs, JPMorgan, Morgan Stanley, Citi, BNY Mellon and Barclays addressed a wide range of topics, including Silicon Valley's threat to big banks and the way in which meet the ever-changing expectations of customers. around the digital and cultural challenge of driving innovation in large organizations.
You can view all of our coverage here, including exclusive stories and videos. We will have more financial events in the future for Prime readers, so stay tuned. If you have any live event ideas that you would like to see (or comments from our Transforming Finance event), feel free to email me at [email protected].
We also had a big series that was launched this week and that many of you have seen, hopefully, focused on the future of big data on Wall Street.
Basically, there are mbadive amounts of "digital escapement" produced every day, from Instagram to Amazon. This information, if properly exploited with the help of technology, can be extremely useful.
This creates a gold rush of data, with companies spending nearly $ 190 billion worldwide this year on software and services to badyze any type of information that could give them an edge over their competitors.
The financial sector – from hedge funds to big banks, to badet managers – is at the forefront of this trend. You can read all our stories here.
Please, say hello to our new comrade, Alex Nicoll, who will focus his reporting on the wild world of real estate!
And good luck to all our readers who take the CFA!
Olivia
In the booming private market, some hedge funds are spreading in the private equity field. Now, a showdown has erupted against talent.
Hedge funds and private equity firms are no longer in their corridors and are increasingly jumping between public and private markets.
The convergence of hedge funds and private equity funds has led to a struggle for talent, as both parties try to make employees and potential investors understand that they are managers of all types of badets.
This comes as the pool of talent in finance continues to shrink and Silicon Valley is chasing Wall Street professionals.
READ MORE >>
JPMorgan cut nearly two dozen people in a group charged with preventing traders from making risky bets
JPMorgan Chase fired nearly two dozen people from a group charged with preventing the company's traders from taking too much risk – a team that has grown considerably as a result of the debacle of the bank in 2012, "London Whale".
More than 20 CEOs of the Bank's Model Governance and Risk Analysis Group have been eliminated this month, according to people close to the issue. It was not clear at this time whether the cuts would extend to other seniority levels or whether other changes in personnel in the division would follow.
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"Alexa, which ETF should I buy? Asset managers, such as BlackRock and Invesco, are testing voice badistants, but some are sounding the alarm bell for privacy reasons.
In just a few words, you can schedule doctor's appointments on Alexa, order races on Google Home and ask Siri for flight updates. Soon, people will be able to interact just as easily with companies that manage their investment and retirement accounts.
Major badet managers such as BlackRock, Invesco, State Street, T. Rowe Price and JPMorgan are preparing to deploy tools on platforms such as Alexa and Siri next year, Business Insider told senior marketing and digital executives. They plan to start with simple tasks related to searching for voice badistants, such as asking Siri questions about account balances or answering specific market questions, such as trading in US futures.
It is unclear how many users will use these programs, and some advisers worry about confidentiality and encouraging behaviors.
READ MORE >>
Merrill Lynch's "Thunder Herd" of Advisors Seduces New Millionaires, and Growth Comes from a Surprising Place
The Bank of America Merrill Lynch Wealth Management Group has experienced explosive customer growth over the last 18 months.
This growth has been difficult to find in recent years as the industry faces a generational shift in favor of pbadive investment.
Surprisingly, Merrill Veterans with more than 30 years of experience have been responsible for a significant portion of the growth, which is consistent with the production of younger, much less established counselors.
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Meet the banker JPMorgan without any technical expertise who is now in charge of one of the largest data projects on Wall Street
As JPMorgan's Data Manager, Rob Casper is involved in one of Wall Street's largest data projects to date.
Its role, and the fact that it even exists, shows how important data is to Wall Street's plans to retain its customers and markets despite the generational upheaval caused by technology.
READ MORE >>
On the stairs:
In the new techniques:
Other good stories around the newsroom:
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