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Apollo CEO: "it's ultimately about having fun at this job"
Apollo's culture was brought into the spotlight during its investor-day presentations yesterday, when CEO Marc Rowan said the job "is just too hard not to have a good time." As it aims for a big growth push, the firm is changing compensation, with investment professionals getting a bigger slice of profits. Read more of Rowan's comments on Apollo's culture.
Credit Suisse's healthcare banking team is hollowed out
At least 11 mid- and junior-level employees - including nine directors and a number of MDs and vice presidents - have left Credit Suisse's healthcare banking team. Plus, a life sciences M&A managing director just left, marking the latest in a series of losses after the bank's Archegos scandal. More on how MD defections are creating ripple effects across the bank.
PayPal is reportedly exploring an acquisition of Pinterest
Pinterest soared as much as 19% on Wednesday after reports surfaced that PayPal is exploring an acquisition of the social-media company for around $39 billion. Everything we know about the potential deal.
Amex and Goldman Sachs are teaming up on a new business-payments feature
American Express and Goldman Sachs are partnering up to simplify how the world's largest companies make payments: The companies' corporate clients will now be able to pay via Amex' card network and through bank and wire payments offered by Goldman all in one place. What that means for their corporate clients.
Big Law bankruptcy lawyers are switching gears to M&A
Advising on corporate Chapter 11 cases has always required expertise in financing negotiations, asset sales, and other dealmaking. This year, as Chapter 11 filings evaporate, Big Law restructuring attorneys are banking on those finance skills to keep their practice groups busy.
On our radar:
- According to Bloomberg, Jamie Dimon just boosted JPMorgan wealth advisors' pay. What you need to know.
- Blackstone is buying a majority stake in Spanx, a deal that values the brand at $1.2 billion, WSJ reports. More on that here.
- Credit Suisse has been fined over a corruption scandal involving Mozambique's tuna-fishing industry.