The Wall Street stories that defined 2020

Subscribe to Business Insider View in browser       What a year. That's probably the best way to sum up 2020, which was an absolute whirlwind.  And while most of us will be happy to close the book on what has been a difficult and trying year, we'd like to take a look back at some of our top stories from the past 12 months.  Below you'll find some of our best work, from in-depth profiles of big personalities to deep-dive investigative pieces on widespread power struggles at the highest of levels. 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 ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco.  Masa Son faces one of his biggest challenges yet Before the pandemic and the craziness that ensued, one the most talked about topics on Wall Street was SoftBank. Dakin Campbell takes you inside the man in charge, Masayoshi Son, with this deep dive in which he spoke to more than a dozen insiders. Read more here.  How Dan Sundheim became the LeBron James of investing and launched one of the hottest hedge funds on earth Few hedge fund managers have had a run like Dan Sundheim and his fund, D1 Capital. Bradley Saacks and Alex Morrell take you inside the world of the former chief investment officer of Viking Global, who has a stake in the NBA's Charlotte Hornets and a high-profile art collection. Check it out here. Former employees say BTIG, a Wall Street firm backed by Goldman Sachs and Blackstone, had a toxic party culture that was stuck in the '80s Wall Street culture has evolved a lot over the years, but in some places it is still very much the same from decades ago. Nicole Einbinder and Rebecca Ungarino uncovered some startling revelations of what it was like to work at BTIG. Read more here. 40 insiders reveal the meteoric rise of Silver Lake's Egon Durban, the tech-focused PE firm's No. 1 dealmaker In the world of private equity, few have risen quicker, or higher, than Egon Durban, co-CEO of Silver Lake Partners. Dakin Campbell and Casey Sullivan spoke to 40 insiders to fully map out Durban's career and what lies ahead. Read more here. Pay rifts, a partner divide, and a threat at the Ritz Carlton: 50 insiders reveal all on a massive shakeup at elite law firm Boies Schiller Nothing like some good drama at one of the most powerful law firms in the world. Casey Sullivan and Meghan Morris take you inside Boies Schiller Flexner and the more than 30 partners that exited the firm over the course of six months. Read more here.  Meet Ram Sundaram, the leader of a secretive Goldman Sachs desk that's minting billions by designing some of the bank's most imaginative — and controversial — trades  Goldman Sachs has spent plenty of time in recent years trying to rebrand itself away from its cutthroat roots. Ram Sundaram, however, is a throwback to the bank's old persona, according to multiple people Dakin Campbell spoke with to source this deeply reported story. Read it all here. Inside Vista Equity Partners, where a top exec is negotiating a messy exit and questions about its future loom large One of the biggest breakups in the world of PE this year came out Vista Equity Partners between founder Robert Smith and departing president Brian Sheth. Dakin Campbell and Casey Sullivan bring you inside the negotiations between the two sides in the lead up to Sheth's eventual departure. Read more here. How a 23-year-old Wharton wunderkind seized power, alienated employees, and blew a $350 million opportunity at Coatue Here's a great inside look at how a data-science team at Coatue Management run by a young up-and-comer completely fell apart thanks to a hectic work environment. Alex Morrell and Bradley Saacks break down the fall of Coatue's quant fund. Read more here. The inside story of how $3 billion Brex went from raising $150 million to slashing staff in just 10 days Over the course of less 10 days, high-profile fintech Brex went from announcing $150 million in funding to cutting 17% of its staff. I wrote about the lead up to both events, talking to insiders at the company about the culture of the fast-growing company. Read more here. These are the 38 fintechs that investors say are poised to be breakout B2B stars Take a peak at the future of fintech. Shannen Balogh and I outlined 38 of the hottest early-stage B2B fintechs in the US, as recommended by investors. Check out the list here. Meet 2020's Rising Stars of Wall Street from firms like Goldman Sachs, Blackstone, and Bridgewater shaking up investing, trading, and dealmaking We'll end on a high note, looking toward the future. Meet the top young talent on Wall Street, from hedge funds to banks and even cryptocurrency investors. Read the full list here. SEE ALSO: Here are 12 hedge funds to watch in 2021: Big names, new launches, and under-the-radar managers SEE ALSO: The next hot fintech trends top VCs are betting on: Embedded finance, finfluencers, and a 'great rebundling' SEE ALSO: 2 senior bankers in Goldman Sachs' powerhouse tech group map out what to expect as the IPO frenzy continues in 2021           Was this email forwarded to you? SUBSCRIBE NOW     You received this email because you signed up to this Business Insider newsletter using the email: nguyenvu1187.love5@blogger.com   Email preferences Unsubscribe TERMS OF SERVICE PRIVACY POLICY 1 Liberty Plaza, 8th Floor. 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Taking stock of a remarkable year in asset and wealth management

A behind-the-scenes look at the stories dominating banking, business, and big deals.

Subscribe to Business Insider View in browser       For the wealth and asset management industries, this year was marked by widespread consolidation, fierce competition for financial advisor talent, and firms doubling down on their wealth businesses. From Morgan Stanley's E-Trade and Eaton Vance acquisitions to Franklin Templeton's Legg Mason deal and LPL Financial and Macquarie's bid for Waddell & Reed's businesses, the asset and wealth management industries underwent drastic consolidation.  Investment management merger and acquisition activity in the US was valued at some $28 billion this year, the highest overall deal value in the sector since $29 billion in 2000, according to data from Dealogic.  Meanwhile JPMorgan, Goldman Sachs, and Citi all laid out new ambitions or executed on plans to grow their wealth businesses, and a flurry of financial advisor recruitment took the industry by storm. Analysts and executives expect the wave of consolidation to carry into next year as sheer scale has become a necessity for fee-pressured investment managers looking for an edge. Business Insider is taking you through our asset and wealth management coverage of 2020.  Deal activity is taking the asset and wealth management industries by storm.  Credit Suisse names 4 firms as likely deal targets after a fresh wave of asset management M&A — and pinpoints possible buyers   Execs from 4 asset managers like Franklin Templeton and Invesco give clues on how they're prepping for a wave of M&A  A new SPAC is on the hunt for a wealth-management deal. Here's a look at the type of companies it's targeting.  Here's our analysis of some of the biggest deals: Why Morgan Stanley's $7 billion bid for a storied asset manager gives it a leg up on rivals and signals more deals to come What BlackRock's $1 billion bid for a trendy indexing business means for the money management industry   Morgan Stanley, which has 15,000-plus financial advisers catering to the super-wealthy, is buying a discount broker known for its talking baby ads Wealth and asset managers are rapidly evolving in a low- or no-fee world, where clients' tastes are changing. The asset manager of the future looks like a consultant. Here's how firms like BlackRock, PIMCO, and Invesco are preparing for it. Uber-rich investors hungry for growth have turned their sights on the private market. Here's how wealth firms like Citi and UBS are transforming their businesses to meet those client demands. Meet the 17 BlackRock power players carrying out CEO Larry Fink's vision to turbocharge private equity and alternative investments growth Goldman Sachs just revealed a new wealth brand at its first-ever investor day. It shows how the bank is trying to reshape its strategy — and image. How JPMorgan's Kristin Lemkau is planning to turbocharge the firm's $500 billion wealth business, from a rebrand and ramping up advisor training to new tech As the coronavirus pandemic ushered in widespread remote work, firms were forced to adjust. Is Florida the new Wall Street? Wealth managers can no longer take clients on splashy outings or events because of the pandemic. Here's what they're doing instead to keep their richest clients happy. Wells Fargo is ditching a 750-person WeWork space, while Citi inked a deal with the flex-office giant far from a big city. Here's a look at how financial firms are retooling their real estate. Merrill Lynch has restarted hiring for its ultra-competitive 3,000-person financial advisor trainee program after hitting pause for months amid the pandemic           Was this email forwarded to you? SUBSCRIBE NOW     You received this email because you signed up to this Business Insider newsletter using the email: nguyenvu1187.love5@blogger.com   Email preferences Unsubscribe TERMS OF SERVICE PRIVACY POLICY 1 Liberty Plaza, 8th Floor. New York, NY 10006