On the agenda as we speak:
Let’s get began.
The variety of Black workers holding executive-level roles at Morgan Stanley Funding Administration has remained unchanged since 2019, regardless of CEO James Gorman’s dedication to variety after George Floyd’s demise final yr. Here’s what else we learned from data the firm disclosed to an investor.
JPMorgan is axing upfront charges from the 529 schooling financial savings plan, a well-liked funding account meant to assist individuals save for school. The transfer is a part of the financial institution’s bigger plans to set itself aside in a extremely crowded wealth business. Get the full rundown here.
GlobeNewswire revealed a press launch claiming Walmart would enable buyers to pay utilizing cryptocurrency starting in October — nevertheless it turned out to be pretend (and triggered litecoin to spike then sharply fall). So regardless of the retailer signalling an interest in crypto earlier this yr, you still can’t use litecoin to check out at Walmart.
For the primary 90 days of the pandemic, Jason Mudrick had his analysts work 12- to 14-hour days — together with on weekends — to search out prime distressed debt alternatives. Why they spent the first three months of the pandemic “working as hard as we’ve ever worked.”
JPMorgan’s buy of restaurant-review web site The Infatuation may very well be Wall Road’s weirdest — and smartest — deal of the yr. Monetary companies are more and more leaning on content material and perks to woo prospects, and for JPMorgan, buying The Infatuation is a manner to increase its perks and retain customers in the process.
Hedge funds have piled into personal markets at a file tempo, based on Goldman Sachs. Non-public market information could be a robust discover, however startups like Forge International and Cyndx, amongst others, consider they’ve discovered a manner in. Here are some tools they’re using to provide private market data to investors.
On our radar: